Paramount Bank (MO)


Overview / Commentary
800-735-5957
90 Village Sq. Shpctr.
Hazelwood, MO 63042

Paramount Bank (MO) is headquartered in Hazelwood and is the 147th largest bank in the state of Missouri. It is also the 3,508th largest bank in the nation. It was established in 2004 and as of December of 2021, it had grown to 134 employees at 1 location. Paramount Bank (MO) has a B health rating.

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?

Horrible experience

Posted by: |

Horrible experience with Paramount Bank. Six months after establishing a Business Money Market Account with over $100,000, Paramount Bank decided to drop its interest rate from the promised .50% to .05% with no notice. I thought it must have been a typo when I first saw it on my statement, because I could not believe that any reputable bank could do such a thing to its customers, particularly a large depositor. When I asked why the change was made, the only answer I received was that it was a decision of the Board. Lousy customer service and absolutely no respect for its customers. Recommend that you stay away from this bank!

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Health
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Paramount Bank (MO) has a negative return on equity.

Health Grade Components

Overall
FDIC Certificate #57884
Year Established2004
Employees134
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-2.05%
Return on Equity - YTD-22.37%
Annual Interest Income$4.5MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$153.0MM$237.9MM
LoansQ4 2021vs Q4 2020$74.4MM$191.2MM
DepositsQ4 2021vs Q4 2020$127.2MM$152.7MM
Equity CapitalQ4 2021vs Q4 2020$17.9MM$19.1MM
Loan Loss AllowanceQ4 2021vs Q4 2020$938.00K$938.00K
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$0$209.00K
Real Estate OwnedQ4 2021vs Q4 2020$1.1MM$1.6MM
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
0.05%--Money Market Deposit
0.05%--Business Money Market

Paramount Bank (MO) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%*-$100kInterest Checking
OTHER TIERS: 0.10% $100k+

Paramount Bank (MO) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%$1k-37 Month CD Special
0.50%$1k-25 Month CD Special
0.05%$1k-18 Month CD
0.05%$1k-36 Month CD
0.05%$1k-48 Month CD
0.05%$1k-60 Month CD
0.05%$1k-24 Month CD
0.01%$1k-6 Month CD
0.01%$1k-12 Month CD

Paramount Bank (MO) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$1k-18 Month IRA
0.05%$1k-36 Month IRA
0.05%$1k-48 Month IRA
0.05%$1k-60 Month IRA
0.05%$1k-24 Month IRA
0.01%$1k-6 Month IRA
0.01%$1k-12 Month IRA
Locations


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

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