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Lubbock National Bank Review

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Lubbock National Bank Money Market
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Lubbock National Bank first started operating in 1978 and has its headquarters in Lubbock, Texas. Lubbock National Bank handles $1 billion in assets as well as $839 million in deposits, making it a medium-size bank. Lubbock National Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset experts rated Lubbock National Bank 4.2 out of 5 stars, suggesting it is a solid pick to be your bank. Lubbock National Bank provides customers with a full suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. Lubbock National Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Lubbock National Bank's standard checking account does not have a monthly fee. Using a bank with free checking and a high savings APY is your best option for getting the most income from your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.1
SmartAsset Average: 3.5

Lubbock National Bank's one-year CD has a rate of 0.50%, while its highest-yielding money market account has a rate of 0.15%.

How Lubbock National Bank's Savings Rates Compare

Lubbock National Bank Money Market 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Lubbock National Bank generally has extremely low fees in comparison to the national average. With no monthly fee, Lubbock National Bank's checking account is perfect for people who want a hassle-free checking account. Lubbock National Bank doesn't reimburse out-of-network ATM fees, meaning you will be required to find a Lubbock National Bank ATM or pay the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.0
SmartAsset Average: 3.7

Lubbock National Bank is a brick-and-mortar bank, with 12 total bank locations in Texas. It also offers access to mobile and web apps for an easy mobile-banking experience. It does not provide access to all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday and 9:00 a.m. to 5:00 p.m. CT. Lubbock National Bank gets relatively good feedback from customers for its mobile banking services. The Lubbock National Bank mobile app rates a 4.0 out of 5 (out of 21 ratings on Apple and Android) compared to the national average of 3.8. You can use Lubbock National Bank's app to manage your accounts by checking monthly statements, transferring funds as well as accessing customer service. Lubbock National Bank gets a superb consumer satisfaction rating due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

Lubbock National Bank ranks as a medium-size bank with assets totaling $1 billion and deposits totaling $839 million. Lubbock National Bank has a strong Texas Ratio of 7.34%, indicating a small possibility of failure. Additionally, Lubbock National Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.34%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Lubbock National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.75% APY
  • 36 Month: 0.90% APY
  • 48 Month: 1.00% APY
$1000 for all terms
Money Market Account 0.1% APY $1

Lubbock National Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Lubbock National Bank does not have the best savings rate, which means you should consider other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Lubbock National Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Lubbock National Bank Near Me

Lubbock National Bank has 12 physical locations in the U.S.

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