Banks clear at the end of the day all the checks that arrive at your account during the day. This bank's policy results in maximizing overdraft fees in that it clears the checks starting from the largest to the smallest. In this way, if the first, large check, empties the account, all the remaining checks have overdraft fees. Clearing checks in the reverse order might result in only the largest check having an overdraft fee. This policy is not illegal but it does take advantage of the bank's customer.
It seems that the mission of Bank of Texas is to create the most unenjoyable experience for the customer. When my business changed names, I had the bank change the name on the account. Unfortunately, sometimes the change shows up in the system and sometimes it does not. Cashiers at the branch closest to me are slow, very slow. And checks take much longer to clear at Bank of Texas than at the bank I have a personal account with. On top of this, there are no convenient locations.
|FDIC Certificate #||4214|
|Return on Assets - YTD||1.34%|
|Return on Equity - YTD||13.82%|
|Annual Interest Income||$1.18B|
|Assets and Liabilities|
|Assets||Q4 2018vs Q4 2017||$34.10B$32.22B|
|Loans||Q4 2018vs Q4 2017||$18.64B$17.10B|
|Deposits||Q4 2018vs Q4 2017||$22.18B$22.32B|
|Equity Capital||Q4 2018vs Q4 2017||$3.25B$3.26B|
|Loan Loss Allowance||Q4 2018vs Q4 2017||$207.5MM$230.7MM|
|Unbacked Noncurrent Loans||Q4 2018vs Q4 2017||$143.7MM$179.3MM|
|Real Estate Owned||Q4 2018vs Q4 2017||$11.2MM$10.7MM|
Rates for Bank of Texas (OK) are currently being reviewed.