My Financial Tips

So today we’ll bring you some CD Rates from TX. Texas is a big state, so does that mean huge interest rates. I’ve heard their roaches are as big as surfboards and their tarantulas are as large as cars. My favorite are the Bus sized Jackolopes. But I digress. Let’s check out the Best Certificate of Deposit Rates.

Guaranty Bank – Dallas, TX (FDIC# 32618)
Guaranty Bank has a unique deposit product, the JumboUp CD. It is a step-up CD and only requires a Maxium initial deposit of $10,000. They have a 16-month and 24-month option. The rates step-up every 4-months and 6-months respectively. The yield average out to a respective 2.22% APY and 2.32% APY. One problem is, Guaranty Bank also has a 1-year and 16-month CD that are paying a better yield. However, the step-up (or JumboUp) 24-month CD pays a higher yield than the fixed 2-year term. They were started in 1988. They are about $15 Billion in assets. They do have a loss of about $420 Million. Ouch. That is way down from an $89 Million dollar profit in 2007. I wouldn’t suggest Texas Hold ‘em to these folks.

USAA Federal Savings Bank – San Antonio, TX (FDIC# 32188)
USAA was started in 1983. They are about $32.6 Billion and quite profitable. Maybe it is a Texas thing. Big states, big profit. They are native to TX. Maybe a healthy heaping of good ‘ol Texas pride will help the CD yields. USAA FSB has a 1-Year at 2.25% APY and a 2-year at 2.45% APY. So, So. A 4-year Jumbo IRA is paying 3.00% APY. With Fed funds at practically 0%, that is pretty respectable. Although USAA is not open to everyone. You have to be a part of the military or a family member of someone in the military.

The American National Bank of Texas – Terrell, TX (FDIC# 23474)
I just loved the name of the bank. But hopefully, it doesn’t become an omen for nationalizing the banking system. ANB of TX is about $2 Billion in assets and also profitable. So from what I found, for the most part, TX has a solid set of banks. American National was started in 1981. With a name like, “The American National Bank”, I thought for sure this would be an oldie. Rate data wasn’t available on their website.

Comerica Bank – Dallas, TX (FDIC# 983)
First, check-out the FDIC#. This bank was started on March 5, 1849. That is old. They were originally The Detroit Bank and Trust company. They changed their name in 1982 to Comerica Bank-detroit (Uh-huh, with a little “d”). They gobbled down just about every bank in Michigan. In 1991, they dropped “-detroit”. They continued gobbling up banks in MI,CA, FL, and TX. Finally, in 2007 Comerica Bank moved to TX. They are huge, about $67.6 Billion, but they aren’t native to TX. They have 1.00% APY for up to 1Y and a 2.00% APY for a 2-year CD to 10-year CD. They were profitable for the year though. These days that is almost unheard of.

Texas Capital Bank, NA – Dallas, TX (FDIC# 34383)
Texas Capital is one of the young’uns of the crowd. They were started in 1997, but are already $5.1 Billion in assets. And another profitable Texas Bank. But sadly, the rates online are terrible. Top rate is 1.21% APY. I’m really starting to worry here.

Patriot Bank – Houston,TX (FDIC# 3258)
Patriot Bank “Beyond the American Dream” is another bank that has an excellent name. They were started in 1930. Although their profit is down this year to $565,000 versus $4 Million last year, they are hangin’ in there. They seem like a good, well established healthy bank. So how do their rates stack up? I would have been thrilled to find a 3.00%, but they have a respectable 2.60% APY for 15-months.

So the Big Texas Banks, did not come through with ginormous TX CD Rates. At least there is the Jackolope. Maybe check out CD Chase Bank.

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