TAB Bank


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

TAB Bank is headquartered in Ogden and is the 25th largest bank in the state of Utah. It is also the 1,055th largest bank in the nation. It was established in 1998 and as of June of 2019, it had grown to 248 employees at 1 location. TAB Bank's savings rates are 4X the national average, and it has a B+ health rating.

Related Posts

As Rates Fall, the Appeal of High-Yield Reward Checking Grows - 10/31/2019

As interest rates fall, high-yield reward checking accounts are looking more attractive as an alternative to online savings accounts for your liquid funds.

TAB Bank Debuts Kasasa Cash Checking, 4.00% APY Up To $50k - 4/22/2019

TAB Bank has added a nationally available Kasasa Cash (rewards checking) account, which earns 4.00% APY on qualifying balances up to $50k. No minimum opening deposit.

TAB Bank High Yield Savings Raised to 2.30% APY - 1/21/2019

TAB Bank has added 28 bps to its nationally available High Yield Savings account, with balances of $2.5k+ earning 2.30% APY. Minimum opening deposit is $2.5k.

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Good So Far, Will Update

Posted by: kiwi | Sep 19, 2019

Opened in minutes online. Allows for very long user names and passwords. Customer service very nice and helpful. Hold time can be long. If you add a secondary user to the account, it is considered a joint account and they can't get another one. Has to be 1 primary per social# and you get only one card per account. But, someone can be authorized to call in to discuss the account. You can open an account and not keep a minimum balance without penalty. It just has to show activity. You can transfer money in and out every month to keep it active. That way, you can have extra accounts in a holding pattern for when you need them. Sometimes banks change the states they service and you can't get one later. They say that they set their own interest rates and it is not tied to the feds on the rewards checking. I will update once I start using it.

Takes Too Long

I recently opened a high interest reward account, and they have been very responsive to my inquiries, however I have been waiting for days to complete my initial process, they were supposed to send me two small deposit amounts to verify my account, which I still have not gotten, and I have tried several different ways to send more money, but it is not possible until I get verified, not sure what takes so long? And in the meantime with all the delays, I have forgotten what I have done , at one point I signed up for auto transfers but not sure now which bank I did this with? I have found a local bank that offers 3.55 interest, so I am going to close this one, hopefully, and go with them, they are Morgantown Bank and Trust, in Bowling Green Ky, it will be better knowing that my money is local, However, I would like to add that I contacted them that I wanted to close the acct, and they did just that, and returned my money the same way it went there, by elect transfer in a reasonable amt of time, and I had just gotten my atm card, I have to give them a pretty good rating because they did pretty good.

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.

Unprofessional With Very Heavy Restrictions

Posted by: Person3 | Oct 17, 2019

I recently opened a high yield savings account with TAB bank. The application process was easy, albeit approval took a couple weeks. Upon attempting to set up external transfer accounts, I was notified that I was ineligible for "transfer from" status for these accounts and would only be able to initiate transfers from the original institution. The kicker is that this restriction is for 90 DAYS before I can "reapply" for transfer from ability, with no explanation for why. This restriction is absolutely insane. Furthermore, I reached out to customer service by email and received a reply with no greeting, no punctuation, no capitalization, and no signature. The reply only said to call their main phone line, no acknowledgment of the issue. This whole experience has made TAB bank seem very suspect in their dealings and I will be closing my account.

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Health
B+

Health Grade Components

Overall
FDIC Certificate #34781
Year Established1998
Employees248
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.03%
Return on Equity - YTD7.4%
Annual Interest Income$31.2MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$724.9MM$780.1MM
LoansQ2 2019vs Q2 2018$595.7MM$650.8MM
DepositsQ2 2019vs Q2 2018$572.8MM$584.4MM
Equity CapitalQ2 2019vs Q2 2018$102.8MM$97.1MM
Loan Loss AllowanceQ2 2019vs Q2 2018$11.4MM$9.4MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$21.2MM$13.9MM
Real Estate OwnedQ2 2019vs Q2 2018$0$2.8MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not TAB Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

TAB Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.10%$1-High Yield Savings
1.50%*-$100kKasasa Saver
OTHER TIERS: 0.25% $100k+
0.25%$1-Premium Savings
0.25%$1-Business Savings

TAB Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.82%$1-Business Money Market
0.25%$25-Money Market

TAB Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%*-$50kKasasa Cash Checking
OTHER TIERS: 0.25% $50k+
0.25%$25-Business Checking
0.10%$1-365 Checking
0.10%$1-Tab Chrome Checking

TAB Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.40%$1k-60 Month CD
2.40%$1k-Business 60 Month CD
2.35%$1k-36 Month CD
2.35%$1k-48 Month CD
2.35%$1k-Business 36 Month CD
2.35%$1k-Business 48 Month CD
2.30%$1k-24 Month CD
2.30%$1k-Business 24 Month CD
2.25%$1k-12 Month CD
2.25%$1k-Business 12 Month CD
2.25%$1k-18 Month CD
2.25%$1k-Business 18 Month CD
2.02%$1k-9 Month CD
2.02%$1k-Business 9 Month CD
1.71%$1k-6 Month CD
1.71%$1k-Business 6 Month CD
Locations


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

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