TAB Bank

Overview / Commentary

www.tabbank.com

801-624-5304

4185 Harrison Boulevard, Suite 200
Ogden, UT 84403

TAB Bank is headquartered in Ogden and is the 23^rd largest bank in the state of Utah. It is also the 957^th 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.

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).

View all posts from:

2021
2020
2019
Earlier

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

7/1 - KASASA Checking Account Lowered To 2% As Of 7/1
5/30 - Kasasa Cash Discontinued July 1st
5/15 - Online Savings Massive Cut To 1.10%
4/28 - Kasasa Cash Deposit Cap Down To $25K
3/30 - TAB BANK Rate Drop..Received This Email Today
1/18 - New Checking Account
1/2 - Savings Rate Cut At TAB Bank

11/15 - TAB Bank's 12-Month CD Earns 2.25% APY
10/31 - As Rates Fall, the Appeal of High-Yield Reward Checking Grows
4/22 - TAB Bank Debuts Kasasa Cash Checking, 4.00% APY Up To $50k
1/21 - TAB Bank High Yield Savings Raised to 2.30% APY

6/6/18 - TAB Bank Ups Nationally Available 12-Month CD Rate
2/1/18 - TAB Bank Has Nationally Available Competitive 9-Month CD
9/12/16 - TAB Bank Raises Rates On Nationally Available CDs
2/26/07 - 5.25% Savings Account at Transportation Alliance Bank
3/24/06 - 4.50% Money Market Account / 5.15% 12-Month CD at Transportation Alliance Bank

Reviews (39)

Great Rewards Checking Rates.

Posted by: grnbsh | May 27, 2019

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.

Comment

APY Decreases

Posted by: User22653 | Jan 28, 2021

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.

Comment

Lackluster Customer Service

Posted by: vr | Oct 6, 2019

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.

Comment

Avoid Tab Bank Utah

Posted by: tempura4 | Feb 5, 2021

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.

Comment

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Health

Data as of Q4 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	34781
Year Established	1998
Employees	268
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.81%
Return on Equity - YTD	7.05%
Annual Interest Income	$75.7MM

Assets and Liabilities
Assets	Q4 2020vs Q4 2019	$959.7MM$827.0MM
Loans	Q4 2020vs Q4 2019	$743.5MM$616.8MM
Deposits	Q4 2020vs Q4 2019	$680.8MM$691.9MM
Equity Capital	Q4 2020vs Q4 2019	$104.7MM$102.8MM
Loan Loss Allowance	Q4 2020vs Q4 2019	$13.3MM$13.6MM
Unbacked Noncurrent Loans	Q4 2020vs Q4 2019	$6.5MM$10.3MM
Real Estate Owned	Q4 2020vs Q4 2019	$0$0