BankDirect

2000 Mckinney Ave, Suite 700
Dallas, TX 75201
1.877.839.2737
www.bankdirect.com



BankDirect, a fast growing Internet-only bank that provides convenient, competitive banking products and services to customers nationwide, went live on the Internet on May 17, 1999 at www.bankdirect.com. BankDirect provides competitive interest checking, savings, and money market accounts as well as certificates of deposit and free bill pay service to customers on the web. BankDirect offers financial control to customers who benefit from the convenience of banking anytime, anywhere. Through a "no-branch" model, BankDirect offers competitive rates and more convenient banking than traditional banks.

BankDirect Routing Number: 111024331

Related Posts

Review of BankDirect and Its AAdvantage Miles Program - 4/8/2011

With interest rates on internet savings accounts so low I thought it might be worthwhile to review BankDirect . Instead of competitive interest rates BankDirect offers airline miles on its deposit pro ...



See Rates for: Checking | Savings | Money Market | CD | IRA

BankDirect Checking Account Rates

ApyMinMaxProduct
0.10%$10k-Checking
0.01%$2,500-Mileage Checking

BankDirect Savings Account Rates

ApyMinMaxProduct
0.10%$100-Savings

BankDirect Money Market Rates

ApyMinMaxProduct
0.15%$10k-Money Market
0.15%$10k-IRA Money Market Account
0.15%$10k-Roth IRA Money Market Account
0.05%--Mileage MMA

BankDirect CD Rates

ApyMinMaxProduct
0.25%$10k-12 Month CD
0.25%$10k-18 Month CD
0.25%$10k-24 Month CD
0.25%$10k-30 Month CD
0.25%$10k-36 Month CD
0.25%$10k-48 Month CD
0.25%$10k-60 Month CD
0.25%$10k-12 Month Commercial CD
0.25%$10k-18 Month Commercial CD
0.25%$10k-24 Month Commercial CD
0.25%$10k-30 Month Commercial CD
0.25%$10k-36 Month Commercial CD
0.25%$10k-48 Month Commercial CD
0.25%$10k-60 Month Commercial CD
0.20%$10k-6 Month CD
0.20%$10k-6 Month Commercial CD
0.10%$10k-90 Day CD
0.10%$10k-6 Month Mileage CD
0.10%$10k-12 Month Mileage CD
0.10%$10k-24 Month Mileage CD
0.10%$10k-90 Day Commercial CD

BankDirect IRA Rates

ApyMinMaxProduct
0.25%$1k-12 Month IRA CD
0.25%$1k-18 Month IRA CD
0.25%$1k-24 Month IRA CD
0.25%$1k-30 Month IRA CD
0.25%$1k-36 Month IRA CD
0.25%$1k-48 Month IRA CD
0.25%$1k-60 Month IRA CD
0.25%$1k-12 Month Roth IRA CD
0.25%$1k-18 Month Roth IRA CD
0.25%$1k-24 Month Roth IRA CD
0.25%$1k-30 Month Roth IRA CD
0.25%$1k-36 Month Roth IRA CD
0.25%$1k-48 Month Roth IRA CD
0.25%$1k-60 Month Roth IRA CD

Rates updated: 2/7/2012

Data for Q3 2011


Institution Statistics


Texas Capital Bank, National Association
FDIC Certificate #34383
BankRate ReportView
Year Established1997
Employees781
Primary RegulatorOCC

Assets and Liabilities

Assets$7.70 billion
Loans$7.14 billion
Deposits$5.52 billion
Equity Capital$654.90 million
Loan Loss Allowance$67.90 million
Unbacked Noncurrent Loans$67.07 million
Real Estate Owned$35.80 million

Historic Data - September 2010

Assets$6.33 billion
Equity Capital$528.43 million
Loan Loss Allowance$75.66 million
Unbacked Noncurrent Loans$127.80 million
Real Estate Owned$38.65 million

Profit Margin - Quarterly

Net Interest Margin4.52%
Return on Assets1.05%
Return on Equity12%
Interest Income$229.30 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 BankDirect had $102.86 million in non-current loans and owned real-estate with $722.8 million in equity and loan loss allowances on hand to cover it. This gives BankDirect a Texas Ratio of 14.23% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for BankDirect decreased significantly from 27.39% as of September 30, 2010 to 14.23% as of September 30, 2011, resulting in a positive change of 48.05%.This indicates that the balance sheet and financial strength for BankDirect has improved significantly in recent periods.
Deposit Growth3
In the past year, BankDirect has increased its total deposits by $22.68 million, resulting in 0.41% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth BankDirect has shown is average.
Capitalization3
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. BankDirect has $7.7 billion in assets with $722.8 million in equity, resulting in a capitalization level of 9.39%, which is average.
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AAdvantage Miles Program
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Leave a Comment (16) »
cheated by Fort knox - April 8, 2011
This account is a good way to keep your AA miles from expiring.

Anonymous - April 8, 2011
Any idea how the miles are reported on the 1099?

Anonymous - April 8, 2011
No 1099 for the miles.

unmesh - April 8, 2011
To me, the value is closer to 1c/mile since saver awards tend to be available only for periods where fares are heavily discounted. With a yield of 0.05%, this is by no means a no-brainer.

To prevent miles from expiring, I typically make a small purchase through AA Shopping at Best Buy and pick it up on the way home!

Anonymous - April 8, 2011
We have found that snagging a business class Saver Award to Europe or Japan can get you a round trip ticket worth from $4000 to $9000 for 100K miles.  So with some planning and flexibility the miles can be fairly valuable.  AA also has some very valuable unpublished perks when your lifetime miles from all sources reach one million.  The danger with accruing miles is the constant threat of the airlines changing their rules on short notice.

Anonymous - April 8, 2011
rule of thumb: don't use the mileage for a domestic trip.

Anonymous - April 9, 2011
What is the FDIC insured limit for a Checking acct ? Same as Savings ie 250K

adityanm - April 9, 2011
The problem with the mileage accounts is that any mileage less than one ticket worth goes waste, I like Schwab card because there is no wastage of reward.

Anonymous - April 12, 2011
Earn 5,000 miles for using your BankDirect Visa® CheckCard? Where is that shown on their website? I don't see it anywhere.

KenBDG - April 13, 2011
I added the link in the post to the new account offer.

Anonymous - April 24, 2011
You get 1000 extra miles for a referral per checking account

Anyone giving out referrals?

DutchPeasant - June 12, 2011
Also need to consider redemption.  Most programs require 25k-30k for a domestic flight.  With planning, many domestic flights can be gotten for $200-300.  So, if you had $10k balance for a year and got 12k miles, you'd need two years of that balance to get a ticket.  If you get 1% interest on 10k you'd have $200 after twoyears - enough for some domestic trips but not all/many.  But no blackout dates.  So, this program is marginally OK if only need 25k miles to redeem.  Other programs have increased miles needed (Capital One rewards money market went from 25k to 30k for redemption.)  That Capital One program would give you 6,000 miles a year for a $10k monthly balance but you also get 2500 miles on signup and a 0.75% interest rate - so lower miles but added interest makes it comparable probably.  Plus no blackouts.  And I think you can combine miles from this with Capital One credit card miles which could be attractive

pilot210 - July 20, 2011
One thing to note, they recently changed the program with less than a month's notice, limiting the miles earned/"household". They will only award the full mileage (100 mile/$1000 deposited/month) for amounts up to $200K. Beyond that you earn 1/2 the mileage. So, not so much worth it beyond $200K on deposit. When I complained that I had just recently moved my money there and would move the excess of $200K out if they didn't continue the previous policy, a V.P. basically said, sorry, we don't care if you move your money. Hard to figuure this out, but given the attitude, I moved my money.

Anonymous - August 4, 2011
I just noticed that they have reduced the number of miles earned to 50 per $1000 for the first $200K

Anonymous - November 29, 2011
not true, i just called and verified. they are still doing 100 miles per $1000 for checking. Its 50 miles per $1000 for money market accounts which has always been the case.

Anonymous - November 29, 2011
$12/mnt fixed fee is coming Jan 2012 for milage checking accounts. Feel free to confirm by calling BankDirect Client Support:

 



Client Support 1.877.839.2737 Option 4, then Option 2
Monday through Friday 8:00 AM to 6:00 PM (CT)