Amarillo National Bank Review: Regional Bank, Global Reach

Amarillo National Bank Plaza One
Who What Where Nguyen Why / Wikimedia Commons

Amarillo National Bank is a rarity in the banking world, as it has been owned by a single family for over 127 years. B.T. Ware founded the bank in 1892, shortly after the city of Amarillo itself began. Currently, the fifth generation of Wares owns and operates the bank, with no outside shareholders. 

Even though it’s privately run, Amarillo National Bank offers a wide range of banking and lending services, from checking and savings accounts to CDs, investment options, IRAs, personal loans and home mortgages. 

To help determine if Amarillo National Bank might be a good option for you, here’s a look at exactly what types of accounts the institution offers, including its pros and cons. 

Here’s what you’ll find in this review of Amarillo National Bank:

Who Is Amarillo National Bank Best For?

Not many banks have remained in the hands of a single family for over 100 years. If a financial institution backed by generations of pride and loyalty is appealing, Amarillo National Bank might be a good choice for you. In addition to its long operating history, the bank offers a fairly wide range of account types and services as well.

A Better Way to Bank

Although Amarillo National Bank is based in the Texas panhandle, it offers access to more than 55,000 fee-free Allpoint ATMs worldwide. The bank also pays a high annual percentage yield across its CD line. Special checking accounts for teens and seniors are also available.

Back to top


  • High CD rates
  • Multiple account types
  • Senior and student checking accounts
  • Global fee-free ATM access


  • Minimum balances required on some accounts to avoid monthly fees
  • Savings APY falls short of online competitors

If Amarillo National Bank sounds like the institution for you, you’ll generally have to visit a branch to open a basic banking account. Only personal loans, home mortgages and vehicle loans can be applied for online with Amarillo National Bank. 

See: Best Regional Banks

Back to top

Who May Want To Skip Amarillo National Bank?

If you want traditional banking service, Amarillo National Bank might not be the best choice for you if you don’t live in the greater Amarillo, Texas area. Only six Amarillo National Bank ATMs accept deposits, and the bank only has branches in the Texas panhandle area. 

If you’re entirely fee-averse, Amarillo National Bank might not be the best choice for you, either. Although you can avoid most monthly fees on its checking and savings accounts, you’ll need to maintain a minimum balance in most cases. The Free Checking account is an exception, but it also doesn’t pay any interest. If you’re looking for top savings account APYs, you can find about double the rates of Amarillo National Bank with online banks. 

A Better Way to Bank
Who Is Amarillo National Bank Suitable For?
Best For Worst For
High CD APYs High savings APYs
Broad range of accounts In-house investments
Global fee-free ATM network ATM deposit capability

Read: Best Online Banks

Back to top

Types of Accounts Available

Amarillo National Bank offers the typical basic banking and lending products that most customers need. Investment options are outsourced to Raymond James Financial Services but are still available through the bank. 

Here’s an overview of the characteristics of the accounts available at Amarillo National Bank.

Amarillo National Bank Product Line
Product Minimum to Open APY Fee
Checking $20-$1,000 0%-1% $0-$8
Savings $30 0.60%-0.80% $1
Money Market $50 0.80%-1.40% $4
CDs $1,000-$1,000,000 1.60%-1.85% N/A
Loans Check with bank 3.25%-3.87% Check with bank

Back to top


Amarillo National Bank offers five types of checking accounts: Personal Checking, Free Checking, Senior Checking, Interest-Bearing Checking and the Student Plastic Account. As the names would suggest, the Personal Checking, Free Checking and Interest-Bearing Checking are the three main types of checking accounts, with the Senior and Student Plastic options for older and younger account holders, respectively. The minimum to open each type of account is $50, with the exception of the $1,000 required for the Interest-Bearing Checking account. 

See: Best Checking Accounts

Here are the basic characteristics of each type of account: 

Amarillo National Bank Checking Accounts
Account Minimum to Open  APY Monthly Fee
Personal Checking $50 N/A $4 + $0.15/item
Free Checking $50 N/A $0
Senior Checking $50 N/A $0
Interest-Bearing Checking $1,000 0.80% $8
Student Plastic Account $20 N/A $0
A Better Way to Bank

Back to top

The Interest-Bearing Checking account is the only checking account at Amarillo National Bank that pays interest. Although this account also requires a $1,000 minimum, the APY paid is quite high, starting at 0.65% on accounts with up to $100,000. To hit the top rate of 1.00%, a deposit of at least $1,000,000 is required. 

All checking accounts at Amarillo National Bank, with the exception of the Student Plastic Account, offer unlimited check writing, and the Senior Checking account includes one free order of stock checks. Additionally, accounts carry these additional benefits:

  • Free Visa check card 
  • Free online banking
  • Free online bill pay
  • Free telephone banking
  • Free overdraft protection

To avoid monthly service fees, daily minimum balances of $500 or $1,000 are required for the Personal Checking and Interest-Bearing Checking accounts, respectively. 

For the Student Plastic Account, a $10 cash reward will be deposited for every report card with straight A’s and B’s throughout high school. However, ATM withdrawals are limited to $50 per day, and Visa check card transactions are limited to $300 per day.  

NSF fees of $19 per transaction apply to all checking accounts.The bank’s overdraft protection service will cover your overdrawn transactions, but you’ll still be assessed the $19 fee per instance, up to $57 per day. 

Back to top


  • Very high APY on the Interest-Bearing Checking account
  • Wide range of account types available
  • Free checking account available


  • Minimum balances to avoid fees (for some accounts)
  • Interest paid on only a single checking account
A Better Way to Bank

Back to top


Amarillo National Bank has one savings account with no fees that also pays interest. 

Here’s a snapshot of the characteristics of the Amarillo National Bank Savings account:  

Amarillo National Bank Savings Account
Type Minimum to Open APY Monthly Fee
Savings Account $30 Up to 0.80% $1

Back to top

Although the savings account has a small monthly fee, it can be avoided with a $30 average daily minimum balance, which is the same amount required to open the account. To avoid a $2 service charge per instance, you’re limited to a maximum of six transfers per month and five withdrawals per quarter. Rates are higher than the national average of 0.09% APY but lag behind those of the best online competitors.


  • Low monthly fee that can be waived
  • Decent APY compared to national average


  • Only one savings account available
  • Restricted to five free withdrawals per quarter
  • Poor APY compared to best savings accounts from totally-online competitors

Back to top

Money Market Accounts

Amarillo National Bank offers a single money market account.

Amarillo National Bank Money Market Account
Type Minimum to Open APY  Fee
Money Market account $50 0.80%-1.40% $4

Here Are: The Best Money Market Accounts

The Money Market account at Amarillo National Bank pays a decent interest rate, but to get the top-tier rate of 1.40%, you’ll need to deposit at least $1,000,000. Transactions are limited to six per month, consisting of three check withdrawals and three transfers. A $10 fee applies to excess transactions. 

A Better Way to Bank

You can avoid the $4 monthly maintenance fee if you maintain a balance of at least $1,000. 

Back to top


  • High APYs available


  • $10 fee on excess transactions
  • Top-tier APY requires $1,000,000 deposits
  • $1,000 minimum balance required to avoid $4 monthly fee

Back to top

CD Rates

Amarillo National Bank offers two types of CD accounts: standard and $1,000,000-plus. Minimums for standard CDs are $1,000. Here’s the list of current CD offerings at Amarillo National Bank:

Amarillo National Bank Certificate Accounts (CDs) 
Term Minimum to Open  APY
30-150 days $1,000 1.60%
6 months $1,000 1.70%
12 months $1,000 1.80%
18 months $1,000 1.80%
24 months $1,000 1.80%
3 years $1,000 1.80%
4 years $1,000 1.80%
5 years $1,000 1.80%

Find Out About: The Best CD Rates and Accounts

Back to top

Interest can be paid in the form of a check or can be rolled back into the CD. You can also opt to have your interest deposited into your account. Early withdrawal penalties apply to funds taken out before maturity, but you’ll have to call the bank to determine the amount of your penalty. At maturity, you’re allowed a 10-day grace period during which you can add to or withdraw from your CD without penalty. 

Jumbo certificates typically require a $100,000 deposit. At Amarillo National Bank, however, jumbo CD rates are only paid on deposits of at least $1,000,000. Terms are also more limited than with standard CDs, as follows:  

Amarillo National Bank CD Rates Over $1 Million
Term Minimum to Open APY 
6 months $1,000,000 1.75%
12 months $1,000,000 1.85%
18 months $1,000,000 1.85%
24 months $1,000,000 1.85%


  • Generally high APYs across the board, particularly for deposits of at least $1,000,000
  • Good range of CD options


  • Very high minimum deposit of $1,000,000 for best rates

Back to top

Individual Retirement Accounts

You can open either a Traditional, a Roth IRA or a SEP-IRA, if eligible, at Amarillo National Bank. For investment options, you’ll have to contact one of the bank’s retirement professionals at 806-378-8338. 

A Better Way to Bank


  • Three types of IRAs available
  • Investment options available


  • Limited IRA information available without contacting a bank retirement professional

Read: Best IRA Providers

Back to top

Investment (Nonbank) Options

Amarillo National Bank doesn’t offer its own investment options directly. However, it partners with Raymond James Financial Services to offer a broad range of non-bank investments, including the following: 

  • Stocks
  • Bonds
  • Mutual Funds
  • Exchange-Traded Funds 
  • Annuities
  • Managed Accounts

Back to top


Amarillo National Bank offers personal loans, vehicle loans, credit cards and home loans. Personal and vehicle loan rates are not disclosed on the bank’s website, but mortgage rates are as follows: 

Amarillo National Bank Home Loans  
Term Rate
15-Year Fixed 3.25%
20-Year Fixed 3.87%
30-Year Fixed 3.87%

Amarillo National Bank is the largest mortgage lender in the Texas panhandle. Its’ mortgages carry the following features and characteristics:

  • Easy online application
  • Rapid funding, with closing in two weeks or less
  • Local loan officers
  • First-time buyer program
  • Awarded Amarillo’s best mortgage company every year since 2005

Back to top

For more information, you can contact an Amarillo National Bank mortgage specialist at one of the following three offices:

  • Coulter: 806-358-3008
  • Summit: 806-382-1543
  • Borger: 806-275-5012

Available vehicle loans include the following types:

  • New or used auto
  • New or used RV
  • New or used motorcycle
  • New or used all-terrain vehicle
  • New or used boat

Home equity loans are also available and can be applied for online as well. 

Back to top


  • Loans up to 30 years available
  • Home equity loans available
  • Low rates for those with good credit
  • Local loan officers
  • Best mortgage company in Amarillo since 2005


  • Only three mortgage types listed on the bank’s website; must contact bank officers for additional details
  • Personal loan rates not disclosed on website

Back to top

How To Bank with Amarillo National Bank

To open most accounts with Amarillo National Bank, you’ll have to visit a branch. At the present time, only loan accounts can be opened online. 

See: How To Open a Bank Account Online


Amarillo National Bank recently updated its website and mobile app to include an additional array of features. Current tools available on the app include: 

  • Customizable interface
  • Easy transfers from Amarillo National Bank to other accounts
  • Enhanced security features

Back to top

Customer Service

Amarillo National Bank customer service is currently available only via phone, although branch service is also an option. Customer service phone lines are open from 8 a.m. to 5 p.m. from Monday through Friday. No toll-free number is available; you must contact the bank at its local number, 806-378-8000. 

For basic banking transactions, such as checking balances and transferring funds, you can also use the Bank by Phone service. This service is available 24 hours a day, seven days a week at 806-378-8123. You’ll need your Amarillo National Bank Visa Check Card and access code to use this service.  

Back to top


Some accounts at Amarillo National Bank come free-of-charge, but there are a few notable options. The Personal Checking, Interest-Bearing Checking, Money Market and Savings accounts all have monthly fees, although they can be waived if you keep a minimum average daily balance. For these accounts, the required minimum is $500, $1,000, $1,000 and $30, respectively. NSF fees for all of these accounts are $19.  

If you use your ATM card at a non-network ATM, you’ll incur a fee of $1.25. This is in addition to any third-party terminal fees. After six months of non-use of your debit card, a $2 monthly fee will kick in. 

Compare: The 5 Best Banks With No Fees

Back to top

Availability of Funds

You can use your Amarillo National Bank ATM/debit for both point-of-sale and ATM transactions. The daily limit on ATM withdrawals is $500. There’s no fee to use either the 116 Amarillo National Bank ATMs or the 55,000 worldwide ATMs in the Allpoint network. However, other ATMs carry a $1.25 fee, in addition to any third-party terminal fees. 

Back to top

Amarillo National Bank in a Nutshell

Amarillo National Bank has lots to offer potential customers, but it also has some drawbacks. Here’s a quick overview of the pros and cons offered by the bank to help you make a final determination of whether or not it’s the best choice for you. 

Back to top


Amarillo National Bank offers a broad range of accounts and a decent service area for residents of the Texas panhandle. The bank has 116 branches of its own, and its fee-free ATM network is 55,000-strong thanks to its association with Allpoint. 

For those that can maintain minimum balances, the bank’s Interest-Bearing Checking and Money Market accounts post relatively high yields for their categories. APYs are also high across the bank’s line of CDs. If you live in the Texas panhandle and are looking for a traditional bank that offers in-branch service coupled with reasonably high yields, Amarillo National Bank may be an appealing option.

Back to top


Amarillo National Bank only has branches in the Texas panhandle, and only six of its ATMs accept deposits. Although the bank does use the global Allpoint network for fee-free ATM withdrawals, if you don’t live in the bank’s service area, it may be inconvenient to use them. Further adding to the inconvenience factor is the fact that you can’t open any banking accounts online with Amarillo National Bank, only loans.

Most of the bank’s savings, money market and checking accounts carry monthly fees that can only be waived with an ongoing minimum balance. Savings APYs amount to about half of those at numerous online banks, and the bank’s standard checking account doesn’t pay any interest at all.

Back to top

More From GOBankingRates

More Bank Reviews

Rates are updated periodically and subject to change. All other information on accounts is accurate as of Feb. 13, 2020.


Discover the Best Banks of 2024: Unveiling Our Top Picks!

We've compiled a list of the top banks for this year!



Here Are the Pros and Cons of Using Multiple Banks

Shot of a woman using a laptop while going through paperwork at home.

Many banks are one-stop-shop financial institutions...


See Today's Best
Banking Offers