SouthEast Bank is headquartered in FARRAGUT and is the 6th largest bank in the state of Tennessee. It is also the 413th largest bank in the nation. It was established in 2002 and as of December of 2024, it had grown to 300 employees at 15 locations. SouthEast Bank's money market rates are 6X the national average, and it has an A health rating.
Southeast Service
Great Service, Over all outstanding service, staff polite and courteous.
Great Rate And Customer Service But Issues Opening Account
I had problems opening this account online. The first is that like many banks they want to send you a pin that you need to enter to continue, but this pin was not being delivered to me and delivery by email is the only option. I checked my email on my tablet via Gmail and it was not present. I checked my email on my laptop via Thunderbird and it was not present. After being locked out of my account twice and calling customer service we determined that this email must be stuck in my spam. Which it was under Comcast. So FYI to Comcast users to log into their account online and check / fix their spam setting for this Bank. Odd because I've never had any Bank problems before through dozens and dozens of accounts but something about this bank's email is a problem. I wish Southeast would support sending this pin by phone instead of email.
The second issue is a terminology problem they use the term passcode in multiple places but it means different things and has different answer/values.in one place passcode means to be used when calling them by phone. It's given to the CSR agent to validate Who You Are. In other case the passcode is used actually as an account log on password. But the usage of these passcodes are not clear.
That said the csrs were fantastic. they spoke English, understood and resolved my quickly, staying with me online the whole time and never rushed me to hang up. I can't say enough positive things about that experience. If they could tweak a couple things that I mentioned above I would give them five stars across the board.
Not Ready For Prime Time
While their rates are great, they don't support Quicken and their web interface has bugs. You cannot download an account statement electronically. The web page interface for that feature is broken. Also, Quicken returns a cc 501 error trying to connect to their server to download any account data. I brought this issue up many times to their customer service with no resolution. I connect to dozens of Banks without issue so the problem is on their side. Without the ability to do everyday common Electronic Banking activities, I would not recommend using this Bank.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57348 |
| Year Established | 2002 |
| Employees | 300 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.93% |
| Return on Equity - YTD | 10.75% |
| Annual Interest Income | $191.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $2.98B$2.91B |
| Loans | Q4 2024vs Q4 2023 | $2.46B$2.46B |
| Deposits | Q4 2024vs Q4 2023 | $2.66B$2.63B |
| Equity Capital | Q4 2024vs Q4 2023 | $263.8MM$237.9MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $16.7MM$19.5MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $860K$2.4MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |
