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Southwestern National Bank Review

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

Overview

Southwestern National Bank was founded in 1997 with headquarters in Houston, Texas. Southwestern National Bank manages assets of $396 million and deposits totaling $332 million, which makes it a small bank. Southwestern National Bank 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 apps. On the whole, Southwestern National Bank is an average bank that leaves room for improvement, with a score of 3.6 out of 5 stars from our team. Southwestern National Bank offers a full array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is your best option for accruing the most income from your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.6/5
National Average: 4.1

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

Rates

3.4
SmartAsset Average: 3.5

Southwestern National Bank has a savings rate of 0.25%, which is poor compared to other U.S. banks. Its CDs feature a rate of 0.60% and 0.90% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.32%. Given its noncompetitive savings rate, you should think about other options to earn more on your deposits.

How Southwestern National Bank's Savings Rates Compare

Southwestern National Bank Savings 0.25 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Southwestern National Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

Southwestern National Bank is a brick-and-mortar bank, with six total bank locations in California and Texas. With mobile and web apps, Southwestern National Bank makes account access easy, even on the go. Southwestern National Bank's mobile app allows you to manage your accounts by checking current statements, sending and receiving money as well as reaching support representatives. Southwestern National Bank receives a superb consumer satisfaction score based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating NR
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

Southwestern National Bank is currently a small bank owning assets totaling $396 million as well as deposits totaling $332 million. Its Texas Ratio is 1.44%, denoting a negligible possibility of failure. Additionally, Southwestern 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

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 Southwestern National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1000
Checking Account 0.17% APY $1000
Certificates of Deposit
  • 12 Month: 0.60% APY
  • 24 Month: 0.70% APY
  • 36 Month: 0.85% APY
  • 48 Month: 0.85% APY
  • 60 Month: 0.90% APY
$1000 for all terms
Money Market Accounts 0.32% APY 0.32% APY $10000 $15000

Southwestern 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. Southwestern National 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. Southwestern National Bank's CD rates are fair in comparison to the national average.

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Find a Southwestern National Bank Near Me

Southwestern National Bank has six branches in the U.S.

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