Origin Bank (LA/MS/TX) Adds Performance Checking, 4.00% APY

Louisiana-based Origin Bank recently added a new rewards checking account (RCA) – the Performance Checking, which earns 4.00% APY on qualifying balances up to $40k. Qualifying balances above $40k earn 0.40% APY, with non-qualifying balances earning no interest. There is no required minimum opening deposit.

The fine print on the landing page states, “Rate may change on or after June 30, 2020.” CSR confirmed that the 4.00% APY is guaranteed through June 2020.

Qualification Requirements

• At least 16 debit card transactions per cycle.
• Receive monthly eStatements.
• At least one ACH debit or credit transaction per cycle.

Fees

There is a $14 service charge that will be assessed every statement cycle if the average daily balance falls below $4k. If a new Performance Checking account is closed within 90 days of opening, a $25 fee will be imposed.

On the other hand,

If you originate a mortgage loan with Origin during the life of this account you will receive a $100 lender credit to be redeemed at the time of your closing; there is no minimum balance required for this benefit.

Availability

Headquartered in Choudrant, Lousiana, Origin Bank has a market area that includes six northern Louisiana parishes, four Mississippi counties, and the greater Houston and Dallas-Fort Worth metropolitan areas.

Opening a Performance Checking account can be done at any of the 20 Louisiana branches located in Bastrop, Bernice, Bossier City, Calhoun, Choudrant (2), Farmerville (2), Monroe (3), Ruston (5), Shreveport (2), and West Monroe (2). There are also 19 Texas branches in Allen, Dallas (2), Fort Worth (3), Frisco, Houston (8), Irving, and The Woodlands, and five Mississippi branches in Flowood, Jackson, Madison, Oxford, and Ridgeland.

According to CSR, all Louisiana, Mississippi, and Texas residents are eligible to open Performance Checking account if they are able to “drive to one of our locations. Don’t forget your Social Security card and driver’s license/passport.”

Bank Overview

Origin Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.47% (excellent), based on December 31, 2018 data. In the past year, the Bank has increased its total non-brokered deposits by $212.52 million, an excellent annual growth rate of 6.54%. Please refer to our financial overview of Origin Bank (FDIC Certificate # 12614) for more details.

While the Origin Bank brand is relatively new (2015), the Bank’s roots stretch back to 1912, when the Bank of Choudrant was established. That name remained in place for 75 years, until it was changed to Community Trust Bank, following the acquisition of the Bank of Bernice in 1987. Between 2005 and 2010, four more banks were acquired, including the Community Trust Bank of Texas (Dallas). Origin Bank is currently Louisiana’s second largest bank, with assets in excess of $4.7 billion and more than 84,000 customer accounts.

How the Performance Checking Compares

There aren’t many High Yield Reward Checking Accounts tracked by DepositAccounts.com that have maximum qualifying balances of at least $40k and are available with Origin Bank’s wide-spread market area. In fact, there are only two and the Performance Checking APY currently ranks first.

The above rates are accurate as of 4/3/2019.

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.