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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

Established in 1997, Southwestern National Bank has assets totaling $396 million and deposits totaling $332 million, classifying it as a small bank. Southwestern National Bank, whose headquarters are in Houston, Texas, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Coming in at an average 3.6 out of 5 stars, Southwestern National Bank is an average bank that leaves room for improvement. Southwestern National Bank provides customers with the full selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. Institutions that offer free checking, in addition to a high interest rate savings account are the best bet for accruing the most income from your deposits while having 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

With a savings rate of 0.25%, Southwestern National Bank ranks poorly as compared against the national average. Its one-year CD has a rate of 0.60% and the five-year CD has a rate of 0.90%, while its highest-yielding money market account has an APY of 0.32%. Given Southwestern National Bank's below average savings rate, you should think about opting for higher earning savings accounts with other banks.

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. It also offers access to mobile and web apps for simple access and banking on the go. Southwestern National Bank's mobile app allows you to control your bank accounts by reviewing account balances, sending and receiving money and accessing customer service. Southwestern National Bank gets an excellent consumer satisfaction rating due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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 ranks as a small bank owning $396 million in assets as well as $332 million in deposits. Southwestern National Bank's Texas Ratio is 1.44%, signifying a negligible probability 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 Account 0.32% APY $10000

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 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. Southwestern National Bank's CD rates are fair as compared against the national average.

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Find a Southwestern National Bank Near Me

Southwestern National Bank has six locations across the U.S.

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