State Bank of Texas

Overview | Locations (6) | Receive alerts for this bank

REVIEWS

Popular Accounts at this Bank

APY	ACCOUNT TYPE	ACCOUNT NAME
1.55%	Money Market	Jumbo MMDA 0.90% - Ally Bank Money Market Account
1.55%	1-year CD	Jumbo 12 Month CD 1.50% - Goldman Sachs Bank USA 12 Month CD
1.45%	1-year CD	12 Month CD 1.50% - Goldman Sachs Bank USA 12 Month CD

View all State Bank of Texas rates »

Overview / Commentary

www.statebnk.com

972-252-6000

11950 Webb Chapel Road
Dallas, TX 75234

State Bank of Texas is headquartered in Dallas and is the 75^th largest bank in the state of Texas. It is also the 912^th largest bank in the nation. It was established in 1987 and as of June of 2017, it had grown to 136 employees at 15 locations. State Bank of Texas' money market rates are 4X the national average, and it has a B+ health rating.

I have apparently made the unpardonable error of being a current customer of State Bank of Texas. The current posted rate for their Jumbo Money Market account is 1.55%. When I got my latest statement, the rate shown is 1.25%, the rate when I opened the account. I called today, and was told that the higher rate is for"new money". I replied that the old money is likely to disappear given the bank's behavior toward its customers. The response was that the banker would talk to the Treasurer of the bank to see what he could do. Maybe this will be fixed by my leaving, or maybe they will pay what they are advertising- we will see. The one thing for sure is that you have to watch your accounts with them like a hawk!

State Bank of Texas Ups Jumbo MMDA Rate - 6/26/2017

State Bank of Texas has raised the rate on its nationally available Jumbo MMDA (1.55% APY, $100k+). Balances below $100k do not earn any interest.

State Bank of Texas 12-Month Jumbo CD Available Nationwide - 5/24/2017

State Bank of Texas has raised the rate on its nationally available 12-month Jumbo CD (1.55% APY, $100k min) and 12-month CD (1.45% APY, $25k min).

View all posts from:

2017
2016

7/17 - 1.55 % Money Market, BUT NOT FOR ME
6/26 - State Bank of Texas Ups Jumbo MMDA Rate
5/24 - State Bank of Texas 12-Month Jumbo CD Available Nationwide

8/30 - State Bank of Texas Offers 1-Year CD and MMA Nationwide
2/22 - State Bank of Texas Offers Competitive 1-Year CD And MMA

Reviews (4)

Write a Review

Featured Account Options

Shaky Start

Posted by: dla1946 | May 27, 2016

We decided to open a jumbo money market account at the Garland branch based on the excellent rate. The sign up experience was shaky. We had to ask for both checks to be sent to us and a receipt for our deposit, among other things. I keep waiting for a phone call telling me they forgot something

15

Account Opening

Posted by: CSample | Mar 11, 2016

The Chicago office said you must go into one of the branches to open an account. It can't be done online or by snail mail.

22

Money Market Account

Posted by: dale26s | Jun 16, 2017

Beware- when balance falls below $25,000 there is $20 monthly fee-

4

Awful Customer Service

Posted by: pwj7050 | Jul 28, 2017

I called this bank on TWO separate occasions inquiring about its Jumbo Money Market account. I had to leave messages both times, but nobody ever called me back.

I find this to be incredibly unprofessional and bad business on their part since I was looking to deposit $100,000 and not open a Christmas Club account with $100.00!

I'm shocked by their incompetence.

7

Health

B+

Data as of Q2 2017

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	27074
Year Established	1987
Employees	136
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	11.96%
Return on Equity - YTD	68.43%
Annual Interest Income	$29.9MM

Assets and Liabilities
Assets	Q2 2017vs Q2 2016	$835.7MM$680.1MM
Loans	Q2 2017vs Q2 2016	$620.7MM$498.5MM
Deposits	Q2 2017vs Q2 2016	$612.3MM$541.3MM
Equity Capital	Q2 2017vs Q2 2016	$166.1MM$123.1MM
Loan Loss Allowance	Q2 2017vs Q2 2016	$6.4MM$6.1MM
Unbacked Noncurrent Loans	Q2 2017vs Q2 2016	$11.7MM$3.3MM
Real Estate Owned	Q2 2017vs Q2 2016	$10.2MM$14.2MM

User-submitted Promotions & Notices

Submit a Promo

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

1.55 % Money Market, BUT NOT FOR ME

RichL40T | Jul 17, 2017

I have apparently made the unpardonable error of being a current customer of State Bank of Texas. The current posted rate for their Jumbo Money Market account is 1.55%. When I got my latest statement, the rate shown is 1.25%, the rate when I opened the account.

I called today, and was told that the higher rate is for"new money". I replied that the old money is likely to disappear given the bank's behavior toward its customers. The response was that the banker would talk to the Treasurer of the bank to see what he could do. Maybe this will be fixed by my leaving, or maybe they will pay what they are advertising- we will see.

The one thing for sure is that you have to watch your accounts with them like a hawk!

13

Rates

Skip to rates for:

Money Market
CD

Report an Issue

Always verify rates and promotions with the bank or credit union. We are not State Bank of Texas; 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.