Security Bank is headquartered in Midland and is the 74th largest bank in the state of Texas. It is also the 872nd largest bank in the nation. It was established in 1928 and as of September of 2019, it had grown to 176 employees at 12 locations. Security Bank has an A+ health rating.
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10/4/11 - Security Bank (TX) Drops RCA Rate (2.54%APY, 2.51%/1.01%APY RR Withsaver)
9/1/11 - Security Bank Of Texas Rate Cuts
8/16/11 - Top Reward Checking and Savings Combo at Security Bank - Texas Only
7/30/11 - Security Bank Of Texas Drops RCA Rate From 3.51%APY To 3.23%APY Effective 8/1/11
7/7/11 - First Period Waiver
Security Bank customer
I have had nothing but good experiences with Security Bank. I have been banking with them for over ten years. I have one checking and one savings account with them. They are always pleasant and helpful when I call in via phone and also when I visit the lobby or window at the branch location. Their phone app and website are very user friendly and I make use of these on an almost daily basis. They have a number of convenient ATM locations that I visit on a fairly regular basis. I also appreciate how they are active in local community charities and events. I would not hesitate to refer my friends, family, or anyone, for that matter, to Security Bank for any of their banking needs.
Not for me
My husband and I opened a business checking account with this bank recently. When my husband went in to cash some checks they did not want to honor them at first. These were written by people who banked with this bank. Then they hit us with fees that they told us they would waive for 6 months. This was an outright lie. Their mobile app doesn't update very quickly. I have used other banks mobile apps and had no problems so I don't know what the issue is. I am not impressed with this bank and I don't appreciate a bank being dishonest with me, especially on a business account.
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 13408 |
| Year Established | 1928 |
| Employees | 176 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.18% |
| Return on Equity - YTD | 15.97% |
| Annual Interest Income | $32.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $921.7MM$847.8MM |
| Loans | Q3 2019vs Q3 2018 | $494.0MM$456.3MM |
| Deposits | Q3 2019vs Q3 2018 | $785.5MM$726.9MM |
| Equity Capital | Q3 2019vs Q3 2018 | $128.4MM$110.9MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $10.1MM$8.8MM |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $629.00K$3.7MM |
| Real Estate Owned | Q3 2019vs Q3 2018 | $539.00K$3.2MM |
