Independent Bank of Texas is headquartered in Irving and is the 353rd largest bank in the state of Texas. It is also the 4,414st largest bank in the nation. It was established in 2003 and as of September of 2013, it had grown to 18 employees at 2 locations. Independent Bank of Texas' savings rates are 83% higher than the national average, and it has a B+ health rating.
The other reviews about a 'hard pull ' are correct. However, I have not had any problems. I would definitely not consider that any reason for a less than high rating. So far, so good!
easy to open online, but a hard pull (Experian, I believe)
While they do offer good rates on checking accounts, beware, they make a hard pull on your credit as if you were applying for credit from them which can affect your credit score, and will show up on your credit report for several years.
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, 2013 Independent Bank of Texas had $794,000 in non-current loans and owned real-estate with $10.9 million in equity and loan loss allowances on hand to cover it. This gives Independent Bank of Texas a Texas Ratio of 7.28% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Independent Bank of Texas decreased slightly from 8.17% as of September 30, 2012 to 7.28% as of September 30, 2013, resulting in a positive change of 10.89%.This indicates that the balance sheet and financial strength for Independent Bank of Texas has improved slightly in recent periods.
In the past year, Independent Bank of Texas has increased its total deposits by $1.2 million, resulting in 1.24% 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 Independent Bank of Texas has shown is above 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. Independent Bank of Texas has $115.38 million in assets with $10.9 million in equity, resulting in a capitalization level of 9.45%, which is average.
|FDIC Certificate #||57476|
|Assets and Liabilities|
|Equity Capital||$10.10 million|
|Loan Loss Allowance||$807,000|
|Unbacked Noncurrent Loans||$269,000|
|Real Estate Owned||$525,000|
|Historic Data - September 2012|
|Equity Capital||$8.65 million|
|Loan Loss Allowance||$734,000|
|Unbacked Noncurrent Loans||$269,000|
|Real Estate Owned||$446,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.88%|
|Return on Assets||0.68%|
|Return on Equity||8.22%|
|Interest Income||$3.58 million|
Always verify rates and promotions with the bank or credit union. We are not Independent Bank of Texas, we are a rate comparison website and can not provide official rates or promotions.
|0.15%||$100||-||Consumer Savings Account|
|0.15%||$100||-||Commercial Savings Account|
|0.40%||$200k||-||Consumer Money Market Account|
|0.40%||$200k||-||Commercial Money Market Account|
|1.46%||-||$100k||60 Month CD|
|1.25%||-||-||5 Year Variable CD|
|1.05%||-||$100k||48 Month CD|
|1.00%||-||-||3 Year Variable CD|
|0.80%||-||$100k||36 Month CD|
|0.75%||-||$100k||24 Month CD|
|0.45%||-||$100k||18 Month CD|
|0.40%||-||$100k||12 Month CD|
|0.20%||-||$100k||6 Month CD|
|0.20%||-||$100k||9 Month CD|
|0.10%||-||-||1 Month CD|
|0.10%||-||-||3 Month CD|
|0.80%||-||$100k||36 Month IRA|
|0.80%||-||$100k||36 Month Roth IRA|
|0.75%||-||$100k||24 Month IRA|
|0.75%||-||$100k||24 Month Roth IRA|
|0.40%||-||$100k||12 Month IRA|
|0.40%||-||$100k||12 Month Roth IRA|
|0.20%||-||$100k||6 Month IRA|
|0.20%||-||$100k||6 Month Roth IRA|
|Independent Bank of Texas Locations|
|Frisco Branch||1518 Legacy Dr Ste 100||Frisco, TX 75034|
|Independent Bank Of Texas||4300 North Belt Line Road||Irving, TX 75038|