Paramount Bank (MO)


Overview / Commentary
800-735-5957
622 Emerson Rd., Ste. 325
St. Louis, MO 63141

Paramount Bank (MO) is headquartered in Hazelwood and is the 117th largest bank in the state of Missouri. It is also the 2,767th largest bank in the nation. It was established in 2004 and as of December of 2020, it had grown to 172 employees at 1 location. Paramount Bank (MO) has an A health rating.

Related Posts

Paramount Bank Lowers Checking Interest Rate - 4/17/2021

Paramount Bank lowered its checking account rate on April 17, 2021. They had one of the highest interest rates in the country of .85% for all balances. Now the rate is .75% for balances below $100,000 and .10% for accounts with balances above $100,000. The drop from .85% to .10% may come as a shock to many depositors because their monthly statement, which is issued on the 17th of each month, will show the interest rate at the previous higher rate. Depositors may not see the drastic cut to .10% until they look at next month's statement. This is the wording from Paramount's website: The Annual Percentage Yield (APY) and the Rate of the Interest Checking Account is 0.75% as of April 17, 2021 for accounts with balances up to $99,999.99 and 0.10% for accounts with balances over $100,000.00. Rates are subject to change daily and fees may reduce earnings. $100 minimum initial deposit is required to open an account. The account must be funded within 30 days to remain open. APY may change at a

High-Interest Checking, 0.85%* APY, NO Debit Card Requirements - 1/2/2021

This account can be used like a savings account without the 6 withdraw limitation. High-Interest Checking, 0.85%* APY Opening deposit $100 Min Bal to avoid monthly fee: No Fees Nationally available standard checking account... per Ken's review. *The Annual Percentage Yield (APY) of the High-Interest Checking Account is 0.85% as of January 2, 2021 for balances of $500,000 or more, 0.85% for balances of $100,000–$499,999, 0.85% for balances of $50,000–$99,999, 0.85% for balances of $5,000–$49,999, and 0.85% for balances of less than $5,000. Rates are subject to change daily and fees may reduce earnings. Minimum $100 deposit is due at account open. =>.<= Call 833.731.0229 for the most up to date rates. Member FDIC https://paramountbank.com/banking-rates/ Reviewed by Ken on 11/20/2020: https://ww

Paramount Bank High-Interest Checking (non-RCA) Is A Rate Leader - 11/20/2020

Paramount Bank's nationally available High-Interest Checking (non-reward checking account) currently earns a top rate on all balances. $100 minimum opening deposit.

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Also Confirmed Account Gradfathered

Posted by: |

UPDATE (04/09/2021): I spoke to them on the phone today and was told accounts opened prior to March 24 are grandfathered and will earn 0.85% on the ENTIRE balance.

Great Customer Service!!!

Posted by: |

Russ was amazing. He walked me through the verification process, waitinguntil it was complete. I appreciate such high standards of customer service compared to being thrown some instructions and to go on your merry way!!

3 Limitations To Be Aware Of

Posted by: |

So far my experience with Paramount has been favorable, but new depositors may not be happy with 3 service limitations:
*ACH withdrawals are limited to $5000.
*They have no "secure messaging". You have to call them or send a regular email.
*A checkbook order is a minimum of $35! But they have no objection if you buy discount checks elsewhere.
Their staff has been friendly and knowledgeable, and they do answer the phone promptly without a lot of menus to go through.

$100K Limit!

Posted by: |

I went to open an account today and was surprised to see the $100K limit for .85% interest. Above $100K its .10 (not clear if thats for the excess or the whole amount).

I didn't see that anywhere on the description here. Did it just change?

VIEW MORE REVIEWS

Health

Health Grade Components

Overall
FDIC Certificate #57884
Year Established2004
Employees172
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD4.94%
Return on Equity - YTD62.3%
Annual Interest Income$4.6MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$237.9MM$104.3MM
LoansQ4 2020vs Q4 2019$191.2MM$86.7MM
DepositsQ4 2020vs Q4 2019$152.7MM$59.7MM
Equity CapitalQ4 2020vs Q4 2019$19.1MM$10.0MM
Loan Loss AllowanceQ4 2020vs Q4 2019$938.00K$312.00K
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$209.00K$0
Real Estate OwnedQ4 2020vs Q4 2019$1.6MM$2.0MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Paramount Bank (MO); we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Paramount Bank (MO) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%--Personal Statement Savings
0.15%--Minor Savings

Paramount Bank (MO) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%--Money Market Deposit
0.25%--Business Money Market

Paramount Bank (MO) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%*-$100kInterest Checking
OTHER TIERS: 0.10% $100k+

Paramount Bank (MO) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%$1k-6 Month CD
0.40%$1k-18 Month CD
0.40%$1k-36 Month CD
0.40%$1k-48 Month CD
0.40%$1k-60 Month CD
0.40%$1k-12 Month CD
0.40%$1k-24 Month CD

Paramount Bank (MO) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%$1k-6 Month IRA
0.40%$1k-18 Month IRA
0.40%$1k-36 Month IRA
0.40%$1k-48 Month IRA
0.40%$1k-60 Month IRA
0.40%$1k-12 Month IRA
0.40%$1k-24 Month IRA
Locations


Paramount Bank (MO) Locations
Superior Bank90 Village Square Shopping CenterHazelwood, MO 63042

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