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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

Started in 2008, Texas Security Bank has assets totaling $412 million along with deposits totaling $357 million, making the institution a medium-size bank. Texas Security Bank, whose headquarters are in Dallas, Texas, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. With a score of 3.8 out of 5 stars, Texas Security Bank should be near the middle of the pack in your search for a bank. Texas Security Bank has a complete suite of product offerings, including savings accounts, checking accounts, money market accounts, CDs and mortgage products. Texas Security Bank has a fair savings rate compared to the average savings account. Institutions that offer free checking and a high interest rate savings account are your best option for returning the most income from your deposits while having easy 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 poor as compared against the national average. Texas Security Bank's one-year CD earns at a rate of 2.40% and the five-year CD has a rate of 2.90%, while its highest-yielding money market account earns at a rate 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 offer 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 based on comparatively 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

Texas Security Bank ranks as a medium-size bank owning assets totaling $412 million as well as deposits totaling $357 million. Texas Security Bank has an excellent Texas Ratio of 0.00%, signifying that the bank is in superb financial condition 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 Accounts 0.4% APY 0.4% APY $10000 $15000

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

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Find a Texas Security Bank Near Me

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

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