Beal Bank Rating: A Comprehensive Review for Savvy Investors

Beal Bank has been a trusted financial institution for over 30 years, offering a range of banking products and services to its customers. It's a Texas-based bank with a strong reputation for stability and security.

The bank has received high ratings from various financial institutions, including a 4-star rating from Bankrate and a 4.5-star rating from Google Reviews. These ratings are a testament to the bank's commitment to customer satisfaction and financial stability.

Beal Bank is FDIC-insured, which means that customers' deposits are insured up to $250,000. This provides an added layer of protection for customers and gives them peace of mind when banking with Beal.

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Beal Bank has a strong reputation for being financially stable, holding billions in excess capital and assets.

This stability is a major advantage for customers who want to keep their money safe.

Here are some of the pros of banking with Beal Bank:

These features make Beal Bank a convenient and reliable choice for people who want to manage their finances in person or online.

Beal Bank offers two main account types: Savings Accounts and Money Market Accounts. Savings Accounts require a $500 initial deposit, which is the lowest Beal Bank offers.

You can access higher interest rates without locking your funds, but be aware of a $15 fee if you close your account within the first six months. A $3 fee will also be charged if your daily average balance drops below $500.

Money Market Accounts require a $1,000 minimum deposit and must maintain a minimum average daily balance of $1,000 to avoid a $10 monthly fee. You'll only be eligible for the highest interest rates if you put at least $25,000 into a money market account.

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Savings Accounts can be a good fit for beginning savers, with Beal Bank offering a Statement Savings account that requires just $500 as the initial deposit.

You don't have to lock up your funds to access higher interest rates, which is a plus for those who want flexibility.

There's a $15 fee if you close your account within the first six months, so it's worth considering that before making a decision.

You'll also be charged a $3 fee if your daily average balance drops below $500 throughout a quarter.

If you're willing to lock up your funds for a set amount of time, you might be able to earn more interest through another savings product.

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Money market accounts can be a great option for earning a higher interest rate on your funds while keeping them easily accessible.

To open a money market account, you'll need at least $1,000.

You can earn the highest interest rates with a money market account if you deposit at least $25,000.

Beal Bank offers competitive interest rates and a straightforward fee structure, making it a top choice for money market accounts.

If you don't meet the minimum balance requirements, you may be charged a $10 monthly fee.

Maintaining a minimum average daily balance of $1,000 is essential to avoid this fee.

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Discover Bank is the banking branch of the company behind the popular Discover credit card.

It offers a money market account that's a viable competitor to Beal Bank. Discover's online and mobile savings experience is more impressive than Beal's.

You can enjoy 24/7 customer support and zero account fees with Discover Bank. This means one less thing to worry about while saving.

Discover Bank doesn't have any physical branches, so you'll need to rely on online and mobile banking.

Beal Bank's financial details are a crucial aspect of its overall health and stability. The bank's Texas Ratio is a key indicator of its ability to cover problem loans, and as of September 30, 2024, Beal Bank's Texas Ratio was 5.17%, which is lower than the U.S. Bank Average of 4.62%.

Beal Bank's Return on Equity (ROE) is another important metric, measuring how efficiently the bank is making money from its capital. With an ROE of 17.3%, Beal Bank is considered well-run, outperforming the BestCashCow average of 10.02%. This suggests that the bank is effectively utilizing its equity to generate profits.

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Here are some key financial details about Beal Bank:

Beal Bank's asset growth is also worth noting, with a total of $5.824 billion in assets as of September 30, 2024. This indicates that the bank is actively growing its loans and assets, which can be an indicator of a bank's ability to raise funds and expand its operations.

When it comes to fees, not all banks are created equal. There is insufficient data on Beal Bank's fees to provide a full SmartAsset rating.

Beal Bank's fee information is limited, making it difficult to compare their fees to other banks.

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Beal Bank's rates are nothing to write home about, with a savings rate of 3.75% that ranks below the mean compared to the average U.S. bank.

Their six-month and twelve-month term CDs earn a higher rate of 4.20% and 4.05%, respectively, making them a decent option for short-term savings goals.

Beal Bank's highest-yielding money market account has an APY of 3.50%, which is a fair rate considering the current market conditions.

Their savings account is perfect if you want to save towards a specific goal, like paying off loans.

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Beal Bank USA's financial health is a topic of interest, and we can look at its financial details to get a better understanding of its stability. The bank's Texas Ratio is 11.34%, which is higher than the U.S. Bank Average of 4.62%. A higher Texas Ratio indicates that the bank may not have enough capital to cover potential loan losses.

The bank's non-current loans and owned real estate total $392,332,000 and $3,289,000, respectively. Its equity and loan loss reserves are $3,465,132,000 and $23,221,000, respectively. This gives us a better idea of the bank's risk profile.

Beal Bank USA has a Return on Equity (ROE) of 27.15%, which is significantly higher than the U.S. Bank Average of 10.02%. This indicates that the bank is efficiently making money from its capital.

The bank's capitalization is 19.79%, which is higher than the U.S. Bank Average of 11.29%. This suggests that the bank has a solid foundation and is well-capitalized.

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Here's a summary of the bank's financial details:

Overall, Beal Bank USA's financial details suggest that it is a well-capitalized bank with a strong risk profile. However, its high Texas Ratio indicates that it may not have enough capital to cover potential loan losses.

Beal Bank has received positive reviews from customers. One reviewer praised the bank's assistants, saying they were wonderful and took great care of them.

The bank has a physical presence with 13 branches across several states. You can also access your account online through their web app.

Some customers have reported issues with their CDs, including not receiving interest on a CD that matured. Another reviewer simply stated that the bank provided good service.

If you're considering opening a CD, you might want to think twice. According to some experts, brokered CDs from banks on the brink of financial issues are not a good strategy.

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Here are some banks that have recently lowered their online savings rates:

Some banks have actually raised their rates, like Total Direct Bank's money market, which now offers 5.01% APY with a minimum deposit of $25,000.

Beal Bank's financial health is a key factor in determining its overall stability and reliability. Beal Bank is currently a large bank with $5.82 billion in assets and $3.53 billion in deposits, as seen in Example 2. This indicates a significant amount of money being held by the bank.

The bank's Texas Ratio is 5.17%, which signifies that the bank is in satisfactory financial well-being, as stated in Example 3. This ratio compares the bank's non-performing assets to its tangible common equity and loan loss reserves. A lower Texas ratio indicates better coverage of problem loans.

Beal Bank's Return on Equity (ROE) is 17.3%, which is higher than the BestCashCow average of 10.02%, as seen in Example 3. This suggests that the bank is making money efficiently from its capital.

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Here is a summary of Beal Bank's financial health metrics:

Beal Bank's ability to raise funds and grow its loans and assets is also a positive sign. As of September 30, 2024, the bank had assets of $5,824,989,000, loans of $1,638,221,000, and deposits of $3,529,856,000, as seen in Example 3. This indicates a strong ability to raise funds and grow its business.

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