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Security State Bank Review

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Security State Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1925, Security State Bank has assets totaling $614 million and deposits totaling $534 million, making the institution a medium-size bank. Security State Bank, whose headquarters are in Pearsall, Texas, 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 in-person service, in addition to its online and mobile apps. On the whole, Security State Bank is a respectable bank that deserves your consideration, with a rating of 4.1 stars out of 5 from the SmartAsset team. Security State Bank has a complete array of banking products, which include savings accounts, checking accounts, money market accounts and CDs. Security State Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Security State Bank offers an option without a maintenance or monthly fee. Finding a checking account with no monthly fee and a savings account with a high interest rate at the same bank is the best option for accruing the most income from your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

3.8
SmartAsset Average: 3.5

Security State Bank features a savings rate of 0.25%, which is fair in comparison to the national average. Its one-year CD has a rate of 1.26%, while its highest-yielding money market account has an APY of 0.50%. Given Security State Bank's noncompetitive savings rate, you should consider other options to earn more on your deposits.

How Security State Bank's Savings Rates Compare

Security State Bank Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Security State Bank charges its customers extremely low fees in comparison to the average U.S. bank. With no monthly fee, Security State Bank's checking account is ideal for people who want an easy banking experience. Security State Bank does not refund out-of-network ATM fees, which means you will have to find a Security State Bank ATM or eat the withdrawal fee.

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

2.5
SmartAsset Average: 3.7

Security State Bank is a brick-and-mortar bank, with six total branches in Texas. It also offers access to a web app, for a straightforward online-banking experience. Security State Bank receives a superb consumer satisfaction score based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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

5.0
SmartAsset Average: 4.8

Security State Bank ranks as a medium-size bank with assets totaling $614 million and $534 million in deposits. It has an excellent Texas Ratio of 0.06%, suggesting that the bank is in excellent financial shape and unlikely to fail. Additionally, Security State Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $100
Checking Account 0.5% APY $1000
Certificates of Deposit
  • 12 Month: 1.26% APY
$1000 for all terms
Money Market Account 0.5% APY $10000

Security State Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Security State 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. Security State Bank's CD rates are fair in comparison to the national average.

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Find a Security State Bank Near Me

Security State Bank has six physical locations in the U.S.

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