VeraBank is headquartered in Henderson and is the 27th largest bank in the state of Texas. It is also the 371st largest bank in the nation. It was established in 1930 and as of December of 2019, it had grown to 472 employees at 38 locations. VeraBank has an A health rating.
When I moved to this area several years ago I went to Citizens National Bank to open a checking account. They have been great! When I go into the bank they know my name and greet me. They ask how they can help me and see to my needs. They are very efficient in their jobs. When I ask them a question about my checking account they are very friendly and happy to help me in any way they possibly can. At one time my husband and I had a savings account with this bank as well. It was very convenient to transfer money from our savings account to our checking account by simply transferring using their mobile/online banking. Now it is even possible to deposit checks by taking a picture and submitting with your phone! I especially love that option, it makes it very convenient to deposit my husband's paychecks. I would recommend this bank to anyone who lives in the area. I am pleased with my service here.
My first bank account was opened with Bank of America that was 45 minutes from my home, but after a few years, Bank of America closed that branch off and sold the building and all accounts made from that location to the Citizens National Bank of Texas. My checking account was automatically transferred to the new bank, and my account was good to go from there. I have had less issues with over-drafting and fees with CNB than ever with BofA. CNB's account management tools have allowed me to keep an accurate measurement of my spending, and prevent me from over-drafting. I have only over-drafted my account once since i became a member of CNB, and after a brief phone conversation, they reversed the fee since it was my first overdraft ever, and also turned on overdraft protection, preventing me from accidentally over-drafting my account. There have also been no fees as far as just having the account. No minimum deposit per month, and no penalty for not making a deposit within a certain time.
|FDIC Certificate #||3250|
|Return on Assets - YTD||1.04%|
|Return on Equity - YTD||10.28%|
|Annual Interest Income||$96.0MM|
|Assets and Liabilities|
|Assets||Q4 2019vs Q4 2018||$2.41B$2.31B|
|Loans||Q4 2019vs Q4 2018||$1.44B$1.36B|
|Deposits||Q4 2019vs Q4 2018||$2.13B$2.06B|
|Equity Capital||Q4 2019vs Q4 2018||$252.9MM$223.0MM|
|Loan Loss Allowance||Q4 2019vs Q4 2018||$16.9MM$13.9MM|
|Unbacked Noncurrent Loans||Q4 2019vs Q4 2018||$10.5MM$11.6MM|
|Real Estate Owned||Q4 2019vs Q4 2018||$1.5MM$1.4MM|
Rates for VeraBank are currently being reviewed.