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 48th largest bank in the state of Texas. It is also the 522nd largest bank in the nation. It was established in 1987 and as of June of 2023, it had grown to 87 employees at 7 locations. State Bank of Texas (SBT) has an A+ health rating.

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State Bank of Texas 12-Month CD Special Has Near Market-Leading Rate - 11/24/2023

State Bank of Texas nationally-available 12-month CD Special has a near rate-leading APY, following a recent rate increase. Minimum opening deposit is $50k.

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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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.

State Bank Of Texas "Bait And Switch" Scheme

Do not use this bank! Their money market accounts were showing online as some of the highest in the country so I opened an account. I noticed ongoing advertising of high rates but did not see these high rates being paid to my account. When I called "Christina" the "assistant manager" she said "those higher rates are for a 'different product'". Different product? Ridiculous! I had deposited the max covered by FDIC! She was also very obnoxious and kept interrupting me constantly so I could barely say anything. Also, when I requested a form to wire my money out of the account, she refused and said someone else would have to call and ID me and send me the form. AVOID THIS BANK AT ALL COSTS!

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

Shaky Start

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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



Health Grade Components

FDIC Certificate #27074
Year Established1987
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD5.13%
Return on Equity - YTD38.09%
Annual Interest Income$99.3MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$2.19B$1.61B
LoansQ2 2023vs Q2 2022$1.77B$1.27B
DepositsQ2 2023vs Q2 2022$1.81B$1.30B
Equity CapitalQ2 2023vs Q2 2022$303.2MM$230.7MM
Loan Loss AllowanceQ2 2023vs Q2 2022$21.0MM$15.8MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$6.9MM$11.3MM
Real Estate OwnedQ2 2023vs Q2 2022$0$462.00K

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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