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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 as well as $534 million in deposits, making the institution a medium-size bank. Security State Bank, whose headquarters are in Pearsall, Texas, lacks premium access to customer service, 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. Coming in at a commendable 4.1 out of 5 stars, Security State Bank is a good bank that should be given a look. Security State Bank has a full choice of banking products, including savings accounts, checking accounts, money market accounts and CDs. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Security State Bank's ordinary checking account does not have a monthly fee. Institutions that offer free checking and a high savings APY are the best option for getting the highest income from your deposits while maintaining convenient access to your money.

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

With a savings rate of 0.25%, Security State Bank ranks poorly in comparison to other U.S. banks. Security State Bank's 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 below average savings rate, you should consider looking elsewhere to open savings accounts.

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 typically has extremely low fees in comparison to the national average. With no monthly fee, Security State Bank's checking account is perfect for those who want an easy checking account. Security State Bank unfortunately does not reimburse out-of-network ATM charges, meaning you'll need to search for a Security State 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

2.5
SmartAsset Average: 3.7

Security State Bank is a brick-and-mortar bank, with six total bank locations in Texas. It also offers access to a web app, for a simple online-banking experience. Security State Bank gets a superb consumer satisfaction rating due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 is a medium-size bank owning assets totaling $614 million as well as $534 million in deposits. Security State Bank's Texas Ratio is 0.06%, suggesting that the bank is in superb financial shape and improbable 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 Accounts 0.5% APY 0.5% APY $10000 $15000

Security State Bank offers 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 think about looking 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 State Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Security State Bank Near Me

Security State Bank has six branches in the U.S.

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