Woodforest National Bank


Overview / Commentary
832-375-2000
1330 Lake Robbins Drive
The Woodlands, TX 77380

Founded in 1980 in Houston, Texas, Woodforest National Bank is a privately-owned bank now headquartered in The Woodlands, Texas. It operates well over 700 branch locations in several different states and offers both personal and business depository banking products.

As far as personal banking products go, Woodforest National Bank offers checking accounts, savings accounts, money market accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts CDs (IRA CDs). Furthermore, it offers convenient online and mobile banking services to its personal banking customers.

Woodforest’s personal checking accounts offer a variety of interest rates, depending upon the account balance. Additionally, Woodforest offers a “Second Chance” checking account, with higher maintenance fees, for those “who have experienced previous bank account challenges.”

For personal savings options, Woodforest offers money market accounts, savings accounts, CDs with terms ranging from 1 month to 5 years, and IRA CDs with terms ranging from 6 months to 5 years.

On the business side, Woodforest offers both business checking accounts and business loans, in addition to a variety of services. Its business checking accounts offer a range of benefits, depending upon transaction volume and account balance. Much like the “Second Chance” personal checking account, Woodforest offers a “Second Chance” business checking account, for “business customers who have experienced previous bank account challenges.” Finally, there is a business money market checking account option, with competitive variable interest rates. However, like other money market accounts, there is a limit of 6 withdrawals a month. Excessive withdrawals will incur fees.

Great Experience

I recently opened an account in my hometown in NC and have been very pleased so far with my experience. A nonsufficient fund I had gotten, that I was not at fault for, was taken care of by a Teller on my behalf. I was very grateful she took the time to get it resolved for me and my money back in my account. So far, so good with my new banking experience here. Thank you.

Alright for a last-chance bank

Posted by: PJC | Jan 16, 2017

I used Woodforest after some dumb decisions I made in college locked me out for several years of larger banks. Woodforest had a program for second chance bankers which fit my needs when I entered the job force. Their fees are a bit burdensome, but they are taking a bit of a risk on you as you are a "second chance", so it's understandable. Their customer service is really poor and their website and app are nothing to write home about.

However, if you really need a bank account and can't get one with a larger bank, they are a decent option to consider and I never felt fleeced during our relationship, However, once I was able to, I did move on to a bigger bank. So, essentially, consider them if you must and you'll be fine with their service. Nothing special, but nothing terrible. Just be thankful for the second opportunity.

Woodforest Issues

Been w/ this bank at least 7 yrs. Each year gets worse.Had few previous on their behalf /midstakes I tried to continue business.How do you over draft on a closed out savings account ? Top it off they charged me $25 for closing savings an keeping the checking..Many retailers do not except their card.An being an account holder M.O. should be free. Its good cause of the direct deposit that comes early. No longer even worth it. Here indpls there is only like one woodforest located inside walmart the store i hate and the line is always long

Woodforest Bank Holds On Account

Posted by: PamelaWWW | Aug 20, 2019

FYI, in Texas when you use the debit card at the pump.. Woodforest puts a 75.00 hold on your account though you spend only 30-40 and this applies if you use it as debit or credit,,, I tried both ways to test it.

It takes 24 hours for the actual amount to post on Woodforest.... No other Debit card has ever done this... I've had several with different banks,,, It is not the Service Station... I called Woodforest they tried to say it was the Service Station,... NOPE,,, I use different debit cards so I can verify,, it is Woodforest

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Health

Health Grade Components

Overall
FDIC Certificate #23220
Year Established1980
Employees4941
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD2.48%
Return on Equity - YTD27.05%
Annual Interest Income$127.6MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$6.42B$5.83B
LoansQ2 2019vs Q2 2018$4.05B$4.30B
DepositsQ2 2019vs Q2 2018$5.76B$5.28B
Equity CapitalQ2 2019vs Q2 2018$603.6MM$495.1MM
Loan Loss AllowanceQ2 2019vs Q2 2018$47.3MM$60.3MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$51.3MM$72.0MM
Real Estate OwnedQ2 2019vs Q2 2018$3.9MM$3.5MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Woodforest National 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.

Woodforest National Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$10k*-Personal Savings
OTHER TIERS: 0.10% Up to $10k
0.15%*$10k*-Business Savings
OTHER TIERS: 0.10% Up to $10k

Woodforest National Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.16%*$250k*-Emerald Elite Money Market
OTHER TIERS: 0.65% Up to $100k | 0.90% $100k - $250k
0.20%--BIG Money Market
0.20%--Business Money Market

Woodforest National Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%--Personal Platinum Checking
0.05%$1k-Personal Choice Checking
0.05%$1k-Personal Sterling Advantage Checking
0.05%--Business NOW

Woodforest National Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.71%$500-5 Year CD
1.56%$500-4 Year CD
1.51%$500-3 Year CD
1.46%$500-2 Year CD
1.41%$500-1 Year CD
0.95%$500-6 Month CD
0.40%$500-3 Month CD
0.25%$500-1 Month CD

Woodforest National Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.71%$500-5 Year IRA
1.56%$500-4 Year IRA
1.51%$500-3 Year IRA
1.46%$500-2 Year IRA
1.41%$500-1 Year IRA
0.95%$500-6 Month IRA
Locations

Availability



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