SouthEast Bank is headquartered in Farragut and is the 9th largest bank in the state of Tennessee. It is also the 488th largest bank in the nation. It was established in 2002 and as of June of 2022, it had grown to 247 employees at 15 locations. SouthEast Bank's money market rates are 6X the national average, and it has an A health rating.
Never Experienced This Before
Oddly, you can open ANY account with these folks on-line....except the 2 cd specials they have going. You are able to apply, open and fund any of their other cd products through the on-line/ACH transfers process.....but the "Specials" seem to have to be done either in-person or back and forth by snail mail.
Plan on it taking a couple of weeks to get it all in place that way.
I must say..the customer service was top notch though. They were very helpful and professional in communicating and getting the info I needed. Always responded to emails and phone calls. I think it seemed perhaps strongly odd to them as well.
Hopefully the "powers that be" will realize they are truly losing out on an entire new market because of a simple inconvenience.
Customer Service
The absolute worst customer service by the Ooltewah branch! The customer “care” center is a complete joke. SouthEast lost 3 accounts today from myself & family - rest assured MANY more will follow!
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57348 |
| Year Established | 2002 |
| Employees | 247 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1% |
| Return on Equity - YTD | 11.57% |
| Annual Interest Income | $41.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $2.28B$2.20B |
| Loans | Q2 2022vs Q2 2021 | $2.04B$1.88B |
| Deposits | Q2 2022vs Q2 2021 | $2.05B$1.97B |
| Equity Capital | Q2 2022vs Q2 2021 | $203.9MM$185.0MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $6.9MM$7.8MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $1.3MM$3.3MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$54.00K |
