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Security Bank Review

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Security Bank Savings
0.03% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 1928, Security Bank has assets totaling $788 million along with deposits totaling $673 million, making it a medium-size bank. Security Bank, whose headquarters are in Midland, Texas, lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. On the whole, Security Bank is a satisfactory bank that might not serve all your needs, with a score of 3.1 stars out of 5 from the SmartAsset team. Security Bank offers numerous product offerings, including savings accounts, checking accounts, CDs, mortgage products and credit cards. Security Bank has a fair savings rate; other popular banks have higher rates. Institutions that offer no-fee checking and a high savings APY are your best option for accruing the highest income on your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

Security Bank features a savings rate of 0.03%, which is poor as compared against the national average. Its one-year CD has a rate of 0.10%, while its highest-yielding money market account earns at a rate of 0.05%. Given Security Bank's below average savings rate, you should consider taking a look at other banks for savings accounts.

How Security Bank's Savings Rates Compare

Security Bank Savings 0.03 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Security Bank charges customers high fees in comparison to the national average. Also, Security Bank has an overdraft fee of $29.00, which is considerably steeper than that of other U.S. banks. Security Bank unfortunately does not reimburse out-of-network ATM fees, which means you'll be required to search for a Security Bank ATM or eat the withdrawal fee.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $29.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Security Bank is a brick-and-mortar bank, with 12 total branches in Texas. It also offers access to mobile and web apps for straightforward access and banking on the go. Security Bank's online and mobile banking services get relatively positive scores from users. The Security Bank mobile app is rated at 4.1 out of 5 (out of 56 reviews on Apple and Android) compared to the national average of 3.8. Security Bank's mobile app lets you manage your finances by monitoring account balances, transferring money and accessing support representatives. Security Bank receives an excellent consumer satisfaction score based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Security Bank is currently a medium-size bank with $788 million in assets and $673 million in deposits. Its Texas Ratio is 7.98%, signifying a tiny chance of failure. Additionally, Security Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Security Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.03% APY $100
Certificates of Deposit
  • 12 Month: 0.10% APY
  • 24 Month: 0.15% APY
  • 36 Month: 0.15% APY
$3000 for all terms

Security Bank has several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. Security Bank does not have the best savings rate, which means you should consider taking a look elsewhere 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. Security Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Security Bank Near Me

Security Bank has 12 physical branches in the U.S.

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