State Bank of Texas (SBT) is headquartered in Dallas and is the 78th largest bank in the state of Texas. It is also the 942nd largest bank in the nation. It was established in 1987 and as of December of 2019, it had grown to 86 employees at 6 locations. State Bank of Texas (SBT) has a B+ health rating.
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Shaky Start
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
Account Opening
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.
Money Market Account
Beware- when balance falls below $25,000 there is $20 monthly fee-
Nonsense Of A Bank
So many banks have a much more APY. And this bank wants a minimum balance of $100,000 for their abysmal APY?
Awful Customer Service
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.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 27074 |
| Year Established | 1987 |
| Employees | 86 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 4.62% |
| Return on Equity - YTD | 28.41% |
| Annual Interest Income | $64.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $853.1MM$919.4MM |
| Loans | Q4 2019vs Q4 2018 | $674.1MM$635.3MM |
| Deposits | Q4 2019vs Q4 2018 | $686.2MM$777.9MM |
| Equity Capital | Q4 2019vs Q4 2018 | $150.4MM$133.9MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $7.3MM$6.4MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $7.6MM$15.4MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $2.4MM$1.5MM |