International Bank of Commerce (OK)
International Bank of Commerce (OK) is headquartered in Oklahoma City and is the 9th largest bank in the state of Oklahoma. It is also the 592nd largest bank in the nation. It was established in 2017 and as of September of 2020, it had grown to 323 employees at 46 locations. International Bank of Commerce (OK) has an A health rating.
As easy as banking gets
I have been with Capital One Bank for many years (formerly ING Direct). There are no fees associated with a 360 account and no minimum balances have to be maintained. They consistently have one of the most competitive interest rates in the country. Their site is easy to use and I never experience technical glitches with the site. It was easy to link the accounts to my personal checking account and transferring funds to my other accounts is very easy and instantaneous. I have contacted customer service on a couple of occasions and was very satisfied with the timeliness and helpfulness of the information I received. You have the option of opening multiple accounts within your main account. You can use those individual accounts for different savings goals etc. I highly recommend Capital One Bank.
My Favorite Bank
Capital One is my favorite bank. It is a free checking account with no fees at all. They actually give you $50 if you just make 3 small debit purchases in I think the first 30 days. It really was that easy to make $50. I do not know how they make any money. They have another deal if you go to there sister company Share Builder and buy a small stock they give you another $50. I just bought one cheap $5 stock and they gave me $50 more. How do they make any money this way is a mystery to me. If I ever had a problem they take care of it right of way too. I plan on staying with them a long time.
Customer Service Is Horrible
Customer service is most unprofessional. Opening an account was time consuming and handled very unprofessional.
Transferred funds from my brokerage account, Raymond James, were held for 7 days before I was allowed to access funds. After receiving a letter from IBC advising they were holding the funds, I inquired about the delay. I was told by a management official that we "did not have a relationship" so they would have to hold funds. When I asked how do we go about having a relationship - she could not tell me!! Even though the funds were NOT from a 3rd party person but from a reputable brokerage firm the funds were still held. I requested numerous times to be mailed statements but I never received the paper statements. I finally decided to close the account and let the funds dwindle down to close account. Three checks were presented and were returned for insufficient funds even though there were sufficient funds for 2 of the 3 checks. I never received a call or notice from the bank of the insufficient funds and therefore the checks were continued to be run back thru for a total of $630 of overdraft charges. There were sufficient funds in my savings account to cover the checks which would have been the most cost effective for me.
I believe the overdraft charges are a moneymaking business for IBC and they were most unprofessional in not advising.
I just happened to go on line to check my balance when I noticed the oversight.
They held my deposits because we did not "have a relationship" yet they sent no letter or made a phone call to advise of the issue. History of my bank deposits of $20,000, $6,000, $10,000 would have alerted most people I would not let a $117 or $119 check be returned for insufficient funds.
I was totally dismayed with their total lack of customer service. I wrote a long letter to the Headquarters office in Oklahoma City as well as the branch office in Tulsa that I dealt with and neither had the courtesy to respond to me.
I would recommend anyone considering this bank find another bank to make a "relationship".
Data as of Q3 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 59093 |
| Year Established | 2017 |
| Employees | 323 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.63% |
| Return on Equity - YTD | 3.97% |
| Annual Interest Income | $33.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2020vs Q3 2019 | $1.64B$1.41B |
| Loans | Q3 2020vs Q3 2019 | $805.1MM$719.1MM |
| Deposits | Q3 2020vs Q3 2019 | $1.25B$1.08B |
| Equity Capital | Q3 2020vs Q3 2019 | $246.6MM$236.7MM |
| Loan Loss Allowance | Q3 2020vs Q3 2019 | $10.5MM$4.8MM |
| Unbacked Noncurrent Loans | Q3 2020vs Q3 2019 | $636.00K$1.4MM |
| Real Estate Owned | Q3 2020vs Q3 2019 | $17.9MM$21.7MM |
