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Texas Bank and Trust Company Review

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Texas Bank and Trust Company Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1958, Texas Bank and Trust Company has $2 billion in assets and deposits totaling $2 billion, classifying the institution as a large bank. Texas Bank and Trust Company, whose headquarters are in Longview, Texas, has above-average customer service access with a live chat feature, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 4.3 out of 5 stars, Texas Bank and Trust Company should be solidly in contention for your choice of bank. Texas Bank and Trust Company has a diverse array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking account carries a $8.00 monthly fee, although banks sometimes have requirements that allow you to waive the fee. Banks that offer no-fee checking, in addition to a high interest rate savings account are the best bet for returning the most income on your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
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 0.15%, Texas Bank and Trust Company ranks poorly in comparison to the average U.S. bank. Texas Bank and Trust Company's one-year CD earns at a rate of 1.51% and the five-year CD has a rate of 2.27%, while its highest-yielding money market account has an APY of 0.10%. Given Texas Bank and Trust Company's below average savings rate, you should think about choosing another bank to earn more on your deposits.

How Texas Bank and Trust Company's Savings Rates Compare

Texas Bank and Trust Company Savings 0.15 National Average 0.26 Compare Offers
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Fees

4.2
SmartAsset Average: 4.4

Texas Bank and Trust Company has generally average fees as compared against the national average. Its checking account has a monthly fee of $8.00, which makes it fair for anyone looking for a hassle-free account. For those who often withdraw money from the ATM, it is ideal because it charges no out-of-network ATM fees. Additionally, it has an overdraft fee of $30.00, which is noticeably less than the national average overdraft fee. Texas Bank and Trust Company unfortunately doesn't reimburse out-of-network ATM fees, meaning you'll need to locate a Texas Bank and Trust Company ATM or eat the cost of withdrawal.

Monthly Fee $8.00 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

4.3
SmartAsset Average: 3.7

Texas Bank and Trust Company is a brick-and-mortar bank, with 21 total bank locations in Texas. With mobile and web apps, Texas Bank and Trust Company makes account access straightforward, even on the go. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 8:15 a.m. to 11:00 p.m. CT; Saturday and Sunday, and 9:00 a.m. to 5:00 p.m. CT. Additionally, Texas Bank and Trust Company customers can access live chat for help, which may provide helpful service without getting on the phone. Texas Bank and Trust Company gets reasonably high marks from customers for its mobile banking services. The Texas Bank and Trust Company mobile app rates a 4.1 out of 5 (out of 78 ratings on Apple and Android) compared to the national average of 3.8. You can use Texas Bank and Trust Company's app to control your bank accounts by checking current statements, transferring money and accessing customer service. Texas Bank and Trust Company receives an excellent consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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

4.8
SmartAsset Average: 4.8

Texas Bank and Trust Company is a large bank and has assets totaling $2 billion and $2 billion in deposits. Texas Bank and Trust Company's Texas Ratio is 5.85%, denoting that Texas Bank and Trust Company is in good financial well-being and far from failure. Additionally, Texas Bank and Trust Company is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.85%
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 Texas Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.1% APY $1500
Certificates of Deposit
  • 12 Month: 1.51% APY
  • 24 Month: 1.76% APY
  • 36 Month: 2.02% APY
  • 48 Month: 2.17% APY
  • 60 Month: 2.27% APY
$1000 for all terms
Money Market Account 0.1% APY $1

Texas Bank and Trust Company has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Texas Bank and Trust Company 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. Texas Bank and Trust Company's CD rates are fair compared to the national average.

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Find a Texas Bank and Trust Company Near Me

Texas Bank and Trust Company has 21 branches across the U.S.

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