Spirit of Texas Bank, SSB
Our records indicate that this bank has been acquired by Simmons Bank.
Headquarters
625 University Drive
College Station, TX 77840
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2024 Overview
General Bank Information
Spirit of Texas Bank, SSB is an FDIC insured institution located in College Station, TX. It was founded in 1976 and has approximately $3.22 billion in assets. Customers can open an account at one of its 15 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 22327 |
| Date Established | 1976 |
| Assets | $ 3.26 billion |
| Loans | $ 2.36 billion |
| Deposits | $ 2.81 billion |
| Capital | $ 360.62 million |
For a more detailed analysis of Spirit of Texas Bank, SSB's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - April 18, 2024
Your Current Location: Ohio, OH 43085
Loan Rates - April 18, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Spirit of Texas Bank, SSB
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 401822 |
6.806% |
6.625% 0.88 points $6,000 fees |
$2,049 | Learn More |
NMLS ID: 2059741 |
6.906% |
6.750% 1.00 points $5,123 fees |
$2,076 | Learn More |
NMLS ID: 3030 |
7.350% |
7.250% 1.00 points $3,200 fees |
$2,183 | Learn More |
NMLS ID: Not a Lender |
points fees |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to Spirit of Texas Bank, SSB
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Branches
Spirit of Texas Bank, SSB branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
Spirit of Texas Bank, SSB is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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Financial Details
Spirit of Texas Bank, SSB Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Spirit of Texas Bank, SSB. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| Spirit of Texas Bank, SSB | U.S. Bank Average |
|---|---|
| 1.16% | 3.96% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of December 31, 2024, Spirit of Texas Bank, SSB had $4,398,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $360,616,000 in equity and $17,000,000 in loans loss reserves. That gives it a Texas Ratio of 1.16%.
Return on Equity
| Spirit of Texas Bank, SSB | U.S. Bank Average |
|---|---|
| 11.92% | 12.20% |
Spirit of Texas Bank, SSB has a Return on Equity of 11.92% versus the BestCashCow average of 12.20%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| Spirit of Texas Bank, SSB | U.S. Bank Average |
|---|---|
| 11.05% | 10.76% |
Spirit of Texas Bank, SSB has a Capitalization of 11.05% versus the BestCashCow average of 10.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
Spirit of Texas Bank, SSB Balance Sheet Analysis
As of March 31, 2022, Spirit of Texas Bank, SSB had assets of $3,221,321,000, loans of $2,361,004,000, and deposits of $2,805,522,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
December 31, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 241.24 million |
| Interest-bearing balances | $ 133.87 million |
| Total securities | $ 384.72 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 2.36 billion |
| Loan loss allowance | $ 17.00 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | $ 83.92 million |
| All other assets | $ 66.68 million |
| Total Assets | $ 2.86 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 2.81 billion |
| Interest-bearing deposits | $ 1,916.61 million |
| Deposits held in domestic offices | $ 2.81 billion |
| % insured (estimated) | 54.53% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 37.68 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 17.50 million |
| Total Liabilities | $ 2.86 billion |
| Shareholders’ Equity | $ 402.90 million |
Summary Income Statement
December 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 30.28 million |
| Total Interest Expense | $ 1.60 million |
| Net interest income | $ 28.69 million |
| Provision for loan and lease losses | $ 1.50 million |
| Total non interest income | $ 7.98 million |
| Total non interest expense | $ 19.83 million |
| Pre-tax Net Operating Income | $ 15.34 million |
Bank Loan Profile?
The top three loan types in Spirit of Texas Bank, SSB’s loan portfolio are Commercial Real Estate, Construction and Development Loans, and Commercial and Industrial Loans.
Compared to other banks in Texas, Spirit of Texas Bank, SSB has a significantly higher percent of Construction and Development Loans, Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 15.34 | ✓ | ||
| Multifamily Mortgages |
1.38 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.04 | ✓ | ||
| Small Business Loans | 6.34 | ✓ | ||
| Construction and Development Loans | 18.72 | ✓ | ||
| Commercial Real Estate | 41.64 | ✓ | ||
| Commercial and Industrial Loans | 16.38 | ✓ | ||
| Farm Loans | 0.28 | ✓ | ||
Customer Reviews for Spirit of Texas Bank, SSB
Tim strong
June 5, 2021 |
Do not use as your mortgage provider. The level of Incompetence is staggering and they don't take responsibility for their mistakes.
After telling me they had all the documents they needed and I was good to close on my home purchase, they called me half way through signing telling me that they were missing a critical document and therefore could not close without it. Because it was on closing day, I was technically in breach of my contract and the sellers could back out without any penalties. I had to concede 3k back to the sellers for a contract extension. SOTB refused to compensate me for their mistake or even admit their mistake and apologize.
They don't represent Texas values. Their behavior was dishonorable. They disgrace their own name.
Is this review helpful? Yes:0 / No: 0
Anon
March 27, 2021
They do not treat employees well. Would not recommend working here. As a business owner, I will never do business with a bank like this one..
Is this review helpful? Yes:1 / No: 0
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