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Texas Security Bank Review

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Texas Security Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 2008, Texas Security Bank has assets totaling $412 million along with $357 million in deposits, which makes the institution a medium-size bank. Texas Security Bank, whose headquarters are in Dallas, Texas, lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. We gave Texas Security Bank a 3.8 stars out of 5, indicating that it is a decent choice, but with better options out there. Texas Security Bank offers a varied choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs and mortgage products. It has a fair savings rate compared to the average savings account. Finding an institution with free checking as well as a high interest rate savings account is the best bet for gaining the highest income on your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.8/5
National Average: 4.1

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

Rates

4.0
SmartAsset Average: 3.5

Texas Security Bank has a savings rate of 0.10%, which is fair compared to the national average. Its one-year CD has a rate of 2.40% and the five-year CD earns at a rate of 2.90%, while its highest-yielding money market account has an APY of 0.40%. Given Texas Security Bank's below average savings rate, you should think about choosing another bank to earn more on your deposits.

How Texas Security Bank's Savings Rates Compare

Texas Security Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Texas Security 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

Texas Security Bank is a brick-and-mortar bank, with three total bank locations in Texas. Unfortunately, it does not offer a mobile or web app, which means customers are restricted to in-person customer service and access It does not provide access to all-day customer service with representatives. You can get help during its hours, which are Monday through Friday and 9:00 a.m. to 5:00 p.m. CT. Texas Security Bank gets a superb consumer satisfaction score due to relatively few 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

Texas Security Bank ranks as a medium-size bank owning $412 million in assets and deposits totaling $357 million. Texas Security Bank has an excellent Texas Ratio of 0.00%, denoting that the bank is in outstanding financial health and unlikely to fail. Additionally, Texas Security 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 Texas Security Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.05% APY $2500
Certificates of Deposit
  • 12 Month: 2.40% APY
  • 24 Month: 2.60% APY
  • 36 Month: 2.75% APY
  • 60 Month: 2.90% APY
$10000 for all terms
Money Market Account 0.4% APY $25000

Texas Security Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Texas Security 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. Texas Security Bank's CD rates are fair compared to other U.S. banks.

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Find a Texas Security Bank Near Me

Texas Security Bank has three locations in the U.S.

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