State Bank of Texas (SBT)

Overview / Commentary
111 W John Carpenter Fwy
Irving, TX 75039

State Bank of Texas (SBT) is headquartered in DALLAS and is the 45th largest bank in the state of Texas. It is also the 495th largest bank in the nation. It was established in 1987 and as of September of 2023, it had grown to 90 employees at 7 locations. State Bank of Texas (SBT) has an A+ health rating.

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State Bank of Texas Boosts 12-Month CD Special Rate - 10/16/2023

State Bank of Texas has is offering competitive tiered APYs on its 12-month CD Special. The limited-time rates require minimum opening deposits of $50k and $25k.

5.22% APY Jumbo Money Market - 7/7/2023

I just discovered that State Bank of Texas has increased their jumbo money market to 5.22% APY. The minimum to obtain this rate is 100K. Existing customers must add 10% of their current balance to receive the increase.

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Not The Easiest CD Application Process

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I recently opened a 100k 12 mo. CD at SBT. Online application was not too bad. However, they do require a banker to contact you and request a copy of your D/L. Once they have that back, they then email a signature card to sign and return. If you have a scanner, like me, then it is no big deal. Otherwise, snail mail it back. After approval, they ACH the amount you designated on your application. The only notification you get regarding your account number is on the signature card you signed. At this point, your money is gone, but you can't log in to the bank because you have no user name or password. SBT doesn't bother to tell you you have to go to the website and click "Enroll". What is even more enjoyable is starting to enroll and them asking you for a PIN number, which you don't have. So, you are stuck. Hmm, now what? Email the "banker" and ask WTF is my PIN number? Oh, he replies, its the last 4 of your social. How the F^%# am I supposed to know that? I suggest to him that I should not have to ask for this info, SBT should be advising me of the process. He offers to let TPTB know of my suggestion. Bottom line, not the easiest bank to deal with. Rate-wise, hard to beat 5.85%, but you have to work for it.

Online CD Application

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Update 12/24/22) I lowered all ratings after trying to get my matured CD proceeds back out. A simple ACH transfer back to the funding institution took a written form, not to be sent until at least five days before maturity, and a $10 fee. I've blacklisted them from any more of my business. Strange, as I usually research these details before investing.

No real surprises during the online application but could not save the application at the end for future review. The screen was there to save, but it didn't function. However, the application did get submitted.

It did take 4 business days to get acknowledgement, and then only after I had called. They required copies of our driver's license. No luck sending a .pdf by regular email. I had to register and use their Secure Messaging site. Some glitches...

Got approved and sent an email with the paperwork. Basically, signature cards, but a confusing couple of account ownership pages to initial. I had to call back in to understand. Then print out the 4 pages, sign and initial, scan to .pdf, and use their Secure Messaging site to send it back in.

I think they've progressed, but still are maturing in handling applications online.

Difficult To Do Online With

Attempted to place a Jumbo CD with this bank. After 4 days I heard nothing back from them. Called the number and got an answering machine. Left message. No response. Called again, again answering machine. Left message. Finally they responded. Told them I could not do business with a bank that does not respond nor takes days to process deposits. Halfway through a sentence they hang up on me. That's great customer service. NOT. Then I get an e-mail saying they will not take my CD because of bad credit information. Check my score it is around 790. Don't do business with these people.

Kind Of Clunky Internet Banking

Typical of small brick and mortar banks which attempt to solicit out of market deposits, SBT has apparently patched together various purchased software to support their internet banking.

Most importantly, this seems to have resulted in many steps to the account opening process, but worse, there is a one day delay in response time between each step. It took an entire week and a half from initiating the account opening request to the funding my account (including micro deposit reporting routine), then several more days to get online banking up and running.

The website and some of the online forms lack necessary information resulting in several phone calls. For example, I could not find SBT’s routing number on their website. And, their online banking agreement says there are limits to transfers, but does not state what they are, rather indicating they ‘may’ be available on the transfer funds screen, but none such exists in my experience. Luckily DA had called to get clarification on this point (see Competitive Jumbo MMA link above). UPDATE:
Today, 8/24, I attempted to make a large transfer from a linked bank to SBT (using SBT online banking). A pop up appeared telling me that I had exceeded the transfer limits of:
Incoming $15,000 per day and $30,000 per month
Outgoing $5000 per day and $10,000 per month

All of this is not really a problem sufficient to deter one from seeking the above average (jumbo) MMA rate, just a point of frustration. Since there are few posts evaluating this bank, I thought I’d give those interested a heads up.

P.S. This is a real bank, no hard credit pull to open a deposit account



Health Grade Components

FDIC Certificate #27074
Year Established1987
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD5.06%
Return on Equity - YTD37.31%
Annual Interest Income$153.7MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$2.36B$1.8B
LoansQ3 2023vs Q3 2022$1.91B$1.44B
DepositsQ3 2023vs Q3 2022$1.92B$1.44B
Equity CapitalQ3 2023vs Q3 2022$324.8MM$250.4MM
Loan Loss AllowanceQ3 2023vs Q3 2022$22.4MM$18.1MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$7.6MM$3.6MM
Real Estate OwnedQ3 2023vs Q3 2022$72K$53K

Sorry, we do not have rate data for State Bank of Texas (SBT).


State Bank of Texas (SBT) Locations
O'hare International Airport Branch10000 West O'hare AvenueChicago, IL 60666
Irving Branch605 W. Airport FreewayIrving, TX 75062
Garland Branch517 West I-30Garland, TX 75041
Richardson Branch500 W Belt Line RoadRichardson, TX 75080
State Bank Of Texas111 W John Carpenter FwyIrving, TX 75039
Devon Branch2615 West DevonChicago, IL 60659
Houston Branch8585 S. Gessner RoadHouston, Texas 77074

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