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AloStar Bank of Commerce

Popular Accounts at this Bank

1.23%1-year CD12 Month CD
1.31%2-year CD24 Month CD
1.23%18-month CD18 Month CD

Overview / Commentary
3595 Grandview Parkway, Suite 425
Birmingham, AL 35243

AloStar Bank of Commerce is a relatively new bank established in 2011 and based in Birmingham, Alabama. It does not have a traditional branch structure, but operates out of a single location in Birmingham and has depositors in at least 48 states. AloStar does maintain a commercial lending office in Atlanta, Georgia, from which it manages a portfolio of commercial loans.

AloStar Bank of Commerce offers Personal, Retail, and Business banking solutions. On its personal banking side, the bank usually offers higher rates on its Savings and Checking account offerings because it does not have the overhead costs of banks that operate branches. AloStar also makes a Money Market account available – each of its savings, checking, and Money Market accounts come with a debit card. Certificates of deposit are offered in term lengths ranging from 30 days to 60 months and have minimum opening amount requirements.

AloStar Bank of Commerce online banking offers an Internet platform on which customers can manage their accounts, including performing tasks like Bill Pay and check image viewing. The bank also released a free mobile banking app that allows customers to perform the same functions via their phones. AloStar Bank of Commerce partners with MasterCard to offer debit cards to their customers.

AloStar Bank of Commerce was named by its founders in order to convey the bank’s commitment to service and leadership. ‘Alo’ is a Latin term for nourishes and ‘Star’ implies a guiding light or sign of destiny. The star, with its seven points, also symbolizes the bank’s foci of character, capital, cash flow, collateral, conditions, correspondents, and commerce.

Related Posts

AloStar Bank of Commerce Hikes Savings Account Rate - 4/18/2016

AloStar Bank of Commerce (internet bank) has hiked the rate on its Savings Account (1.05% APY). Min opening deposit is $50, with max opening deposit capped at $250k.

AloStar Bank Of Commerce Raises Rates On Four CDs - 4/13/2016

AloStar Bank of Commerce (internet bank) has raised rates on several CDs: 6-month (1.05% APY), 12-month (1.35% APY), 18-month (1.45% APY), and 24-month (1.55% APY).

Alostar Bank Top Rated 6/12/24Mo CD's. Quick Look. - 4/12/2016

AloStar Bank of Commerce raised APY's on 3 of its' nationally available short term CD's to top/near-top APY's today. Minimum deposit $1K, no maximum:    6-month CD APY 1.05% (was 1.01%)    12-   "       "    "    1.35% (was 1.26%)    24-   "       "    "    1.55% (was 1.46%) Credit for find: Bankaholic's Sabrina Karl Most recent Ken Blog review: 12/15/2015

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Reviews (4)


Posted by: DCMPen | Aug 21, 2012

You get a representative to speak with without having to go into the mechanical filtering.  The same representatives from Nexity are there and helped me get statements from back in 2007 when I had opened my account.  I do not blame them for taking responsibility on how to manage my checkbook, I am greatly satisfied with this bank and its service that I receive when I contact them personally.

No Electronic Transfers?

How does a bank that is going for a higher interest rate on CDs make it work? Perhaps it;s because they have a lot of fees. They want your money, but don't have electronic transfers and charge $20.00 for a wire transfer. Snail mail is free, however. Just talked to a representative at their bank and was going to open a CD, but not with snail mail AloStar Bank of Commerce. I went with another bank!

Will Not Do Business With Alostar Again

Posted by: mahalo | Aug 31, 2012

We used Alostar Bank (formerly Nexity) for a HELOC and when we ran into trouble with the home values decreasing in our area, we attempted to refinance. Alostar refused to subordinate and it killed the deal. 2 years later, we tried to refinance again - to better our situation and actually put more money towards the payoff of the HELOC, however, Alostar would not even compromise.

I'd stay far away from this bank as the actions we've seen above speak to their level of personal relationship with their customers.

Happy To Charge Extra Fees! Alostar Representatives Filled With Major Attitude.

Posted by: timasdf | Nov 3, 2011

We have had a business account with them and the bank they took over for around ten years.

They left a voicemail at 9:18am to inform that we had a couple small (less than $500 total) checks that we didn't have enough in our checking account to cover.  The rep asked for a call back by noon.

We had between $60,000 and $80,000 in our money market account that is linked to our checking.

We were unable to call back right away, but transfered plenty of $$$ within NINE MINUTES of the voicemail.

At 1:00pm, when we had more than $5,000 in our checking account, they "bounced" both checks and charged us $60.  Of course, we'll be charged even more by the vendors whose checks bounced.

After Nexity Bank had treated us so well for so many years, it's a shame that their representatives treated us only with (major) attitude when we asked why our checks were bounced when we had more than TEN TIMES the funds to cover.  The answer was:  you didn't call like we wanted.

Can't close our account right now (too many checks with all of Alostar/Nexity info on them), but at the next opportunity (a few months from now), we will definitely do so.  Too bad that for $60 they are willing to lose a profitable, long-time customer. :-(


Health Grade Components

FDIC Certificate #59060
Year Established2011
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.69%
Return on Equity - YTD3.68%
Annual Interest Income$31.3MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$1.03B$919.0MM
LoansQ3 2016vs Q3 2015$729.4MM$665.1MM
DepositsQ3 2016vs Q3 2015$793.6MM$658.0MM
Equity CapitalQ3 2016vs Q3 2015$186.9MM$181.4MM
Loan Loss AllowanceQ3 2016vs Q3 2015$12.0MM$10.0MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$11.6MM$3.4MM
Real Estate OwnedQ3 2016vs Q3 2015$121.00K$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

AloStar Bank of Commerce Savings Account Rates


AloStar Bank of Commerce Money Market Rates

0.70%*$50k*-Money Market Advantage
OTHER TIERS: 0.50% Up to $50k
0.50%$1k-Money Market
0.50%$1k-Business Money Market

AloStar Bank of Commerce Checking Account Rates

0.40%$500-Interest Checking

AloStar Bank of Commerce CD Rates

1.61%$1k-60 Month CD
1.37%$1k-36 Month CD
1.31%$1k-24 Month CD
1.23%$1k-12 Month CD
1.23%$1k-18 Month CD
0.80%$1k-6 Month CD
0.80%$1k-9 Month CD
0.50%$1k-Business 24 Month CD
0.40%$1k-90 Day CD
0.30%$1k-Business 12 Month CD
0.25%$1k-Business 9 Month CD
0.20%$1k-Business 6 Month CD
0.15%$1k-Business 90 Day CD

AloStar Bank of Commerce IRA Rates

1.10%$1k-36 Month IRA
1.10%$1k-36 Month Roth IRA
0.85%$1k-24 Month IRA
0.85%$1k-24 Month Roth IRA
0.75%$1k-12 Month IRA
0.75%$1k-12 Month Roth IRA

AloStar Bank of Commerce is an Internet only bank and does not have branch locations. Its headquarters is located at 3595 Grandview Parkway, Suite 425 - Birmingham, AL 35243