TAB Bank


Overview / Commentary
801-624-5304
4185 Harrison Boulevard, Suite 200
Ogden, UT 84403

TAB Bank is headquartered in Ogden and is the 23rd largest bank in the state of Utah. It is also the 957th largest bank in the nation. It was established in 1998 and as of December of 2020, it had grown to 268 employees at 1 location. TAB Bank has an A health rating.

Related Posts

KASASA Checking Account Lowered To 1.5% As Of 2/1/21 - 1/27/2021

Dear Valued Customer, We are reaching out to you today to make you aware that the Annual Percentage Yield (APY) for the qualifying rate on your Kasasa Cash account will be reduced from 2.00% APY to 1.50% APY. The new APY is effective as of 02/01/2021. Please see your account disclosures to review the details of this account.

KASASA Checking Account Lowered To 2% As Of 7/1 - 7/1/2020

Dear Valued Customer, We're writing to let you know that the Annual Percentage Yield (APY) for your Kasasa Cash Checking Account with TAB Bank is changing from 3.00% APY to 2.00% APY for balances from $0.01 to $25,000 effective 7/1/2020. As our country continues to deal with the economic impacts of the COVID-19 pandemic, there have been major shifts in interest rates for deposit accounts. At TAB Bank, we are committed to providing the best possible rate that we can under the current circumstances. If you have any questions, please contact TAB Bank Customer Service at 800-355-3063.

Kasasa Cash Discontinued July 1st - 5/30/2020

Just got an email stating that TAB Bank was completely discontinuing their Kasasa Rewards product as of July 1st. All Kasasa accounts will be converted to High Yield Savings accounts (current rate: 1.10% APY).

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Great Rewards Checking Rates.

Posted by: |

Had about five glitches to open and fund the account in the past month, no problem. Everything is fine now. I went from 2.25% checking rewards rate on $20,000 and savings rate of 1.00%, to TAB's 4.00% on $50,000, and savings rate of 2.40%. Thanks Ken Tumin for this webpage which has provided me with the best rates for savers for the past 20 years or so.

APY Decreases

Posted by: |

The rate decreases over the past year are a bummer. I hope the poor reviews I read here aren’t the norm as I’ve had an otherwise good experience in the year or so that I’ve had this account and have not had reason for distrust.
I will also say my experience with customer service has been good. It seemed personal and helpful the couple of times I’ve needed to call. I also do my best to treat people with kindness and respect, in case that relates to my experience.

Lackluster Customer Service

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Good rate, but expect loooong hold times to speak with anyone, and if the rep can't figure it out you have to wait a few days for someone to get back to you via email. Said email may or may not address your issue, and you're back to trying to reach a live person again. I put up with it only because of the competitive Kasasa rate. Also be aware that debits must be a minimum of $5. And as someone else pointed out, there is no place check to see the status of how you're doing in meeting requirements. Most Kasasa accounts have that and it's good to be able to confirm that you and the bank are on the same page, no month end surprise. They really should add that.

Avoid Tab Bank Utah

Posted by: |

Yet another Utah bank with super weird gotchas. Can't ACH more than 3000 is one example of how bad this place is. Their website is 1980s style. They haven't bothered updating it. They email you your account number! They have no sense of cyber security.

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Health

Health Grade Components

Overall
FDIC Certificate #34781
Year Established1998
Employees268
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.81%
Return on Equity - YTD7.05%
Annual Interest Income$75.7MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$959.7MM$827.0MM
LoansQ4 2020vs Q4 2019$743.5MM$616.8MM
DepositsQ4 2020vs Q4 2019$680.8MM$691.9MM
Equity CapitalQ4 2020vs Q4 2019$104.7MM$102.8MM
Loan Loss AllowanceQ4 2020vs Q4 2019$13.3MM$13.6MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$6.5MM$10.3MM
Real Estate OwnedQ4 2020vs Q4 2019$0$0
Rates

Rates for TAB Bank are currently being reviewed.

Locations


TAB Bank Locations
Transportation Alliance Bank, Inc.4185 Harrison Boulevard, Suite 200Ogden, UT 84403

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