SouthEast Bank is headquartered in Farragut and is the 10th largest bank in the state of Tennessee. It is also the 475th largest bank in the nation. It was established in 2002 and as of March of 2020, it had grown to 236 employees at 19 locations. SouthEast Bank has an A health rating.
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.
|FDIC Certificate #||57348|
|Return on Assets - YTD||0.63%|
|Return on Equity - YTD||7.06%|
|Annual Interest Income||$21.3MM|
|Assets and Liabilities|
|Assets||Q1 2020vs Q1 2019||$1.86B$1.65B|
|Loans||Q1 2020vs Q1 2019||$1.68B$1.44B|
|Deposits||Q1 2020vs Q1 2019||$1.68B$1.50B|
|Equity Capital||Q1 2020vs Q1 2019||$161.8MM$136.7MM|
|Loan Loss Allowance||Q1 2020vs Q1 2019||$8.1MM$5.8MM|
|Unbacked Noncurrent Loans||Q1 2020vs Q1 2019||$1.9MM$1.9MM|
|Real Estate Owned||Q1 2020vs Q1 2019||$93.00K$549.00K|
Rates for SouthEast Bank are currently being reviewed.