Classic Bank is headquartered in Cameron and is the 141st largest bank in the state of Texas. It is also the 1,489th largest bank in the nation. It was established in 1889 and as of June of 2022, it had grown to 93 employees at 6 locations. Classic Bank has an A health rating.
I have had an rewards checking account at Classic Bank for 5-6 years and the customer service has been great, however they continue to lower the interest rate. Lately they have been lowering the interest rate almost monthly without any prior notice to customers with Rewards Checking accounts. I have taken most of my money out about a month ago, and will close my account as soon as I can insure that all my direct deposits and Auto Pays have been switched to my new bank that pays 5%.
Classic Bank is unable to manage an Escrow Account and they don't comply with RESPA Guidelines and do what they want. They translate the law to suit their needs and there is no OCC office that one can walk into to submit complaints in person. Will have to do what I have to do but this bank sucks and they are most expensive when it comes to closing cost and the lack of service or assistance from the Giddings Branch is horrific. In addition when you request documentation they send you typed up documentation not system generated information. This banks practices really need to be looked in to by some banking governing party. They don't apply funds correctly and no one governs them. This bank lacks many things and leaves a bad taste in one's mouth.
|FDIC Certificate #||3126|
|Return on Assets - YTD||1.4%|
|Return on Equity - YTD||16.49%|
|Annual Interest Income||$11.5MM|
|Assets and Liabilities|
|Assets||Q2 2022vs Q2 2021||$603.6MM$527.7MM|
|Loans||Q2 2022vs Q2 2021||$459.9MM$410.7MM|
|Deposits||Q2 2022vs Q2 2021||$536.4MM$446.9MM|
|Equity Capital||Q2 2022vs Q2 2021||$46.3MM$49.4MM|
|Loan Loss Allowance||Q2 2022vs Q2 2021||$6.3MM$5.1MM|
|Unbacked Noncurrent Loans||Q2 2022vs Q2 2021||$72.00K$426.00K|
|Real Estate Owned||Q2 2022vs Q2 2021||$0$0|
Rates for Classic Bank are currently being reviewed.
|Classic Bank Locations|
|Classic Bank, National Association||102 N Houston Ave||Cameron, TX 76520|
|Liberty Hill Branch||12251 West State Highway 29||Liberty Hill, TX 78642|
|Cameron Branch||1707 West Cameron||Rockdale, TX 76567|
|Rosebud Branch||198 W Ave B||Rosebud, TX 76570|
|Classic Bank, National Association Branch||493 Highway 71 W||Bastrop, TX 78602|
|Giddings Branch||825 East Austin||Giddings, TX 78942|