Select Bank & Trust Company is headquartered in Greenville and is the 39th largest bank in the state of North Carolina. It is also the 2,286th largest bank in the nation. It was established in 2004 and as of December of 2013, it had grown to 47 employees at 6 locations. Select Bank & Trust Company has a A+ health rating.
Unfortunately, as of January 8th, 2013, it appears that Select Bank and Trust will be cutting its reward checking rate to 2.02%, and raising the monthly requirements from 10 card transactions to 15 (no mininum transaction amount). Not terrible at this strange moment in history, but once again, hardly worth the trouble!
Down to 1.01% now. With all the hoops for the minimal return, the main thing now left to be said for it is it's "free", except when you have to take time to deal with their occasional screwups. Coastal Federal Credit Union is looking better by the day, as are things like shopping, stocks, long-term tax-advantaged debt repayments, mattresses . . .
This is a slimy little bank. They've cheated me out of my monthly interest on 3 separate occasions, claiming the requirements were not met, even though they were.
Now they've lowered their rate. Not unexpected. But they also increased their debit card use requirements. Only problem is they didn't notify anyone. A lot of their customers are in for a shock at the end of the current cycle when they get no interest payment. Yes, it's true that these changes can be found deep in their website, if you knew to look for it in the first place. But a change of terms of this magnitude should have been announced via a mailing. Pretty poor business practices.
I'll be closing my account at the end of the current cycle.
No problems with this bank to date! The requirements for the EasyGreen Checking account are simple and straightforward, and the interest rate is currently at an outstanding rate (3.05% APY up to $25,000). You do need to go to a branch to open an account, but you get a green piggybank and a generous supply of starter checks in the mail for your trouble. Highly recommended!
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 December 31, 2013 Select Bank & Trust Company had $252,000 in non-current loans and owned real-estate with $35.1 million in equity and loan loss allowances on hand to cover it. This gives Select Bank & Trust Company a Texas Ratio of 0.72% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Select Bank & Trust Company decreased dramatically from 1.19% as of December 31, 2012 to 0.72% as of December 31, 2013, resulting in a positive change of 39.45%.This indicates that the balance sheet and financial strength for Select Bank & Trust Company has improved dramatically in recent periods.
In the past year, Select Bank & Trust Company has increased its total deposits by $19.95 million, resulting in 9.62% 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 Select Bank & Trust Company has shown is excellent.
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. Select Bank & Trust Company has $280.59 million in assets with $35.1 million in equity, resulting in a capitalization level of 12.51%, which is excellent.
|FDIC Certificate #||57783|
|Assets and Liabilities|
|Equity Capital||$31.48 million|
|Loan Loss Allowance||$3.62 million|
|Unbacked Noncurrent Loans||$31,000|
|Real Estate Owned||$221,000|
|Historic Data - December 2012|
|Equity Capital||$29.73 million|
|Loan Loss Allowance||$3.58 million|
|Unbacked Noncurrent Loans||$31,000|
|Real Estate Owned||$296,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.6%|
|Return on Assets||0.93%|
|Return on Equity||8.22%|
|Interest Income||$11.23 million|
Always verify rates and promotions with the bank or credit union. We are not Select Bank & Trust Company, we are a rate comparison website and can not provide official rates or promotions.
|0.15%||$100k||-||Select Investment Account|
|0.15%||$100k||-||Business Investment Account|
|0.15%||-||-||Business Sweep Account|
|0.15%||$100k||-||Business Savings Account|
|0.15%||$100k||-||Money Market Account|
|0.15%||$100k||-||Business Money Market Account|
|1.01%||-||$25k||Easy Green Checking|
|0.05%||-||-||Easy Green Checking|
|0.05%||-||-||Absolutely Free Silver Checking|
|0.05%||-||-||Not For Profit Checking|
|0.05%||-||-||Business Interest Checking|
|1.01%||$500||-||60 Month CD|
|1.01%||$500||-||Business 60 Month CD|
|1.01%||$500||$250k||37 Month CD Special|
|1.01%||$500||$250k||Business 37 Month CD Special|
|0.75%||$500||-||48 Month CD|
|0.75%||$500||-||Business 48 Month CD|
|0.50%||$500||-||36 Month CD|
|0.50%||$500||-||Business 36 Month CD|
|0.50%||$500||$250k||19 Month CD Special|
|0.50%||$500||$250k||Business 19 Month CD Special|
|0.40%||$500||-||30 Month CD|
|0.40%||$500||-||Business 30 Month CD|
|0.30%||$500||-||24 Month CD|
|0.30%||$500||-||Business 24 Month CD|
|0.25%||$500||-||18 Month CD|
|0.25%||$500||-||Business 18 Month CD|
|0.20%||$500||-||12 Month CD|
|0.20%||$500||-||15 Month CD|
|0.20%||$500||-||Business 12 Month CD|
|0.20%||$500||-||Business 15 Month CD|
|0.15%||$500||-||9 Month CD|
|0.15%||$500||-||Business 9 Month CD|
|0.10%||$500||-||90 Day CD|
|0.10%||$500||-||180 Day CD|
|0.10%||$500||-||Business 90 Day CD|
|0.10%||$500||-||Business 180 Day CD|
|0.05%||$500||-||30 Day CD|
|0.05%||$500||-||60 Day CD|
|0.05%||$500||-||Business 30 Day CD|
|0.05%||$500||-||Business 60 Day CD|
|1.01%||$100||-||60 Month IRA (Traditional,Roth,CESA)|
|0.75%||$100||-||48 Month IRA (Traditional,Roth,CESA)|
|0.50%||$100||-||36 Month IRA (Traditional,Roth,CESA)|
|0.40%||$100||-||30 Month IRA (Traditional,Roth,CESA)|
|0.30%||$100||-||24 Month IRA (Traditional,Roth,CESA)|
|0.25%||$100||-||18 Month IRA (Traditional,Roth,CESA)|
|0.20%||$100||-||12 Month IRA (Traditional,Roth,CESA)|
|0.20%||$100||-||15 Month IRA (Traditional,Roth,CESA)|
|0.15%||$100||-||9 Month IRA (Traditional,Roth,CESA)|
|0.10%||$100||-||90 Day IRA (Traditional,Roth,CESA)|
|0.10%||$100||-||180 Day IRA (Traditional,Roth,CESA)|
|0.05%||$100||-||30 Day IRA (Traditional,Roth,CESA)|
|0.05%||$100||-||60 Day IRA (Traditional,Roth,CESA)|
|Select Bank & Trust Company Locations|
|Elizabeth City Branch||104 Nance Court||Elizabeth City, NC 27909|
|Washington Branch||155 North Market Street, Suite 103||Washington, NC 27889|
|Gibsonville Branch||220 Burlington Street||Gibsonville, NC 27249|
|Select Bank & Trust Company||3600 Charles Boulevard||Greenville, NC 27858|
|East Tenth Street Branch||3800 East Tenth Street||Greenville, NC 27858|
|Burlington Main||523 South Worth Street||Burlington, NC 27215|