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122 East Main Street
Sentinel, OK 73664

Evantage Bank is the Internet banking division of Southwest State Bank, an Oklahoma-based institution that offers depository banking products and services via its web-based platform. The bank offers loans and other related products through its brick and mortar division at the main Southwest State Bank headquarters.

Since Evantage Bank is the Internet division of the bank, it offers a sophisticated and convenient system for consumers nationwide to open and manage a checking or money market account. A free checking account option is available and comes with no monthly maintenance fee, free checking, customer service, and a Visa check card. Evantage also offers a reward checking account that pays a higher rate of interest when certain requirements are fulfilled. The bank will also pay back ATM fees incurred from withdrawing money from a reward checking account when the depositor meets certain requirements.

Evantage Bank also offers a money market account that pays interest on deposits up to a certain amount. The account has no minimum balance requirement and comes with an Evantage Bank Visa check card, which money market account owners can use to make six withdrawals per month without a fee. DepositAccounts has recognized Evantage repeatedly in the past for both its reward checking and money market account offerings.

Evantage Bank online banking is intuitive and simplifies the account opening process, the depositing of funds, and account management for consumers looking to open an account. The online banking platform also provides an Education Center in which customers can become informed of security issues and banking service explanations.

Evantage Bank is a subsidiary of Southwest State Bank and is headquartered in Sentinel, Oklahoma. Its parent company, Southwest State Bank, was originally established in 1911 as The First National Bank of Sentinel and changed to its current name in 1970.

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Reviews (5)

Will Not Work With Etrade Bank

Tried to open and account with Evantage Bank after several days did not receive the small deposits, called found out they have known problems with working with Etrade bank, Left me hanging with no contact or email follow up. I canceled the account. Very poor customer service.

Love Evantage

I've had no problems with them. The only reason I switched to Danversbank was the 25K limit as opposed to the 10K limit at Evantage. Now I am regretting the switch since Danvers will to 3.01% mid-cycle on October 4th. Not sure where to put my money now. Other than that, great bank with really easy requirements. No direct deposit required. Only 10 debit card transactions.

No Problems

I managed to open an account before the “Sold Out” sign went up.  The whole process was fast and easy without any glitches. I called customer service two times and my questions were clearly answered by a knowledgeable rep. I like their website. It’s user friendly and gives you everything you need.  I am happy to be with Evantage since they pay one of the best interests on what is really a hybrid checking/money market account. I have had no problems with Evantage whatsoever.

No Online Withdrawals While Evantage Changes Its Online Banking Provider

I just spoke to Evantage and was told they are negotiating with a new online banking provider and in the meantime only limited online banking services are available.  They didn't know when this issue will be resolved.

I've had a rewards checking account with evantage and found them to be reliable, friendly and encountered no problems when I was using it.  However, I haven't used it much for a few years so only became aware of the current situation when I called to ask about opening up a money market account.

Evantage Bank Said There Is No Problem With Etrade

Evantage Bank said there is no problem with Etrade if using etrade for in or outbound transfer. No limitation. The money will be available on the next day for inbound transfer.


Data for Q1 2014

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Evantage Bank has a relatively low asset base.

Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Evantage Bank had $104,000 in non-current loans and owned real-estate with $10.44 million in equity and loan loss allowances on hand to cover it. This gives Evantage Bank a Texas Ratio of 1.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Evantage Bank decreased dramatically from 22.79% as of March 31, 2013 to 1.00% as of March 31, 2014, resulting in a positive change of 95.63%.This indicates that the balance sheet and financial strength for Evantage Bank has improved dramatically in recent periods.

Deposit Growth


In the past year, Evantage Bank has decreased its total deposits by -$7.24 million, resulting in -7.68% 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 Evantage Bank has shown is below average.



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. Evantage Bank has $97.34 million in assets with $10.44 million in equity, resulting in a capitalization level of 10.73%, which is above average.

Institution Statistics

FDIC Certificate #4195
Year Established1911
Primary RegulatorFDIC
Assets and Liabilities
Assets$97.34 million
Loans$50.61 million
Deposits$86.97 million
Equity Capital$9.37 million
Loan Loss Allowance$1.07 million
Unbacked Noncurrent Loans$40,000
Real Estate Owned$64,000
Historic Data - March 2013
Assets$104.89 million
Equity Capital$9.58 million
Loan Loss Allowance$1.05 million
Unbacked Noncurrent Loans$40,000
Real Estate Owned$42,000
Profit Margin - Quarterly
Net Interest Margin3.71%
Return on Assets1.74%
Return on Equity18.42%
Interest Income$1.05 million
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Always verify rates and promotions with the bank or credit union. We are not Evantage Bank, we are a rate comparison website and can not provide official rates or promotions.

Evantage Bank Money Market Rates

0.90%-$35kMega Money Market Account

Evantage Bank Checking Account Rates

1.50%-$10kEvantage Rewards Checking - Qualifyinig
0.25%--Evantage Rewards Checking - Non Qualifying

Evantage Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 122 East Main Street - Sentinel, OK 73664