Gibsland Bank & Trust (LA) Offers Rewards Checking Statewide
I first wrote about Gibsland Bank & Trust’s (GBT) then-new GBT Hometown Rewards Checking account about seven years ago. At that time, the rate was 4.11% APY on qualifying balances up to $15k, with only the residents of North Central Louisiana eligible to open an account. While many reward checking accounts have experienced declining APYs and lowered balance caps in the past few years, GBT Hometown Rewards Checking has not only maintained its initial APY and balance cap since 2013, but has also expanded its availability to a statewide market area. Qualifying balances above $15k earn 0.51% APY, with non-qualifying balances earning 0.05% APY.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 1.75*% | $0 | $15k | Gibsland Bank & Trust Company | GBT Hometown Reward Checking | |
| OTHER TIERS: 0.10% → $15k+ | |||||
The statement cycle qualifications haven’t changed in seven years and include,
- At least 15 debit card purchases.
- At least one direct deposit or recurring ACH payment.
- Receive e-Statements.
The GBT Hometown Rewards Checking account can be opened with a $100 minimum deposit. There is no minimum balance requirement to earn the stated APY, but there is a $9.99 monthly fee on balances of $499.99 and below. Unlimited nationwide ATM fees will be reimbursed up to an aggregate of $30 per statement cycle, if qualifications are met. Paper statements are not offered.
While the GBT Hometown Rewards Checking account has remained unchanged for the last seven years, the same can’t be said about the GBT Hometown REALSaver: it no longer exists. The REALSaver was a companion savings account linked to the Rewards Checking account and earned 1.51% APY on qualifying balances up to $25k. As stated on the Compare Our Accounts page,
Interest earned in GBT Hometown Rewards Checking is automatically transferred
to GBT Savings account each statement cycle and does not compound.
Gibsland Bank & Trust's website does not list any rates for any accounts, other than the GBT Hometown Rewards Checking, and the GBT Savings account is the only savings account to be found on the website.
Availability
Headquartered in Gibsland, Louisiana (Bienville Parish), Gibsland Bank & Trust’s primary market area is northwest Louisiana, but all Louisiana residents are now eligible to open a Hometown Rewards Checking account.
Opening a GBT Hometown Rewards Checking account can be done online. The lobbies of the nine Louisiana branches (located in Arcadia, Athens, Bossier City, Gibsland, Homer, Minden, Shreveport (2), and Sibley) remained closed to walk-in traffic, but,
Branch staff and commercial bankers will be available by phone, email or by appointment. Please call your branch during regular business hours to schedule an appointment. All drive thrus will maintain regular hours of operation
Bank Overview
Gibsland Bank & Trust has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 28.86% (average) based on December 31, 2019 data. In the past year, GBT increased its total non-brokered deposits by $15.31 million, an excellent growth rate of 4.2%. Please refer to our financial overview of Gibsland Bank & Trust (FDIC Certificate # 16689) for more details.
Established in 1948 with $30k in capital, Gibsland Bank & Trust was originally known as the Gibsland Bank. Between 1997 and 2009, the GBT opened seven branches in seven northwestern Louisiana towns. GBT is currently the 30th largest bank in Louisiana, with assets in excess of $465 million and more than 17,000 customer accounts.
How the Rewards Checking Account Compares
When compared to the High Yield Rewards Checking Accounts tracked by DepositAccounts.com that are available to all Louisiana residents and have qualifying balances of at least $15k, Gibsland Bank & Trust’s Hometown Rewards Checking APY* currently ranks first.
The above rates are accurate as of 6/27/2020.
To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.
*We continue to work to keep our rates up-to-date, but there have been just too many rate cuts for us to process all the changes quickly. For the time being, please be aware that the rates listed at DepositAccounts.com may not reflect the latest rates published by the banks and credit unions.
