AloStar Bank of Commerce – Review

November 18th, 2011

Alostar Bank of Commerce logo

AloStar Bank of Commerce provides some insight on the name on their website. It reads:

The Latin term, Alo, means to nourish, cherish, support, sustain, maintain and keep. These are words that say a lot about what we want to do for our customers as well as our employees. The word “Star” denotes many positives as well: a guiding light, a sign of destiny or a preeminent figure.
Man, that is some heavy stuff. The bank was created to take over the failed Nexity Bank. The bank’s site indicates $160MM was raised to seemingly purchase $750MM in assets. That seems like a pretty good deal.

FDIC#59060
Stats Updated:06/11
Star Rating:NA (Start-up)
Assets:$851.5MM
Equity:$168.48MM
Capital Ratio:19.8%
Profits(loss):11.6M 6-months
 
Phone#:(877) 738-6391
Contact:
Address:3680 Grandview Parkway, Suite 200
Birmingham, AL 35243
Website:http://alostarbank.com/investment/cds.asp

AloStar Bank of Commerce has an online process to open up new accounts. The biggest draw back is account has to be manually approved by them. If they approve the account they send you an email with a reference# that you can use as the account# to wire in the funds and complete the transaction. Our experience hasn’t been too bad.

1-Year:1.12%
2-Year:1.30%

Happy Rate Searching!!!

cd :O)

-- By +Chris Duncan

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