• City Bank to Give Away $60,000 to Nonprofits

    November 04, 2015, 9:10 AM

    LUBBOCK, Texas - October 21, 2015

    City Bank’s Community Rewards begins its eighth year next week, and there are several exciting changes to the program that will expand both the money available to local nonprofit agencies and the number of agencies that will share in those “Rewards.”

    The total amount of “Rewards” has been increased from $50,000 to $60,000 in 2015, and there now will be 18 winners instead of 10 as City Bank continues its goal of assisting our nonprofits in carrying out their missions of hope and service to people in need throughout our city and surrounding area.

    In its first seven years, Community Rewards has contributed $360,000 to some 65 different nonprofits.

    “What we do is a tiny drop in the bucket to the incredible and never-ending services provided by these agencies, their staffs and volunteers,” said Cory T. Newsom, City Bank’s President and CEO. “The demands on these nonprofits grows every year, and we are excited to grow our program as well because it helps them. They all are difference-makers, and we feel truly blessed to help them in this small way.”

    Lubbock and area residents again will determine the Reward recipients by voting for their favorite charity online at citybankonline.com. For the first time, votes will be tallied in six categories: Basic Human Needs, Health & Wellness, Child Development & Advocacy, Education & Youth Services, Community Development & Leadership, and Animal Welfare & Environment. There will be first-, second- and third-place winners in each category, receiving $5,000, $2,500 and $1,000 respectively. The top overall vote-getter will receive an additional $5,000.

     Voting will begin Sunday, Nov. 1, and continue through Sunday, Dec. 13. The rules state one vote per email address per day. Voters also must be 18 or older. Voting will be updated regularly and the top 5 in each category will be listed at citybankonline.com.  Winners will be announced the week before Christmas. 

  • Auto Loans 101: How Car Loan Interest Works

    October 06, 2015, 1:52 PM

    If you’re thinking about buying a new car, you should know how car loan interest works. Many factors determine whether your lender will give you the Holy Grail of auto lending – zero-percent financing – or a higher auto loan interest rate. Understanding this principle will help you get the best auto loans in Dallas for your next purchase.

    Factors that Affect Car Loan Interest

    • Credit score. A primary factor that will determine the interest rate you quality for is your credit score. This number is tangible evidence of your ability to manage money and make timely payments. Individuals with a score of 700 or above will qualify for a lender’s best rates. Paying your monthly bills and other loans on time will help you maintain or increase your score.
    • Debt-to-income ratio. Debt-to-income ratio measures the percentage of your income that goes toward debt and other payments, and therefore your ability to repay a loan in the eyes of a lender. The lower the amount of outstanding debt you have, the lower your rate will be.
    • Vehicle age. Nearly all offers for zero-percent financing are tied to new cars. Because older cars have already begun to depreciate in value, lenders are less likely to want to loan money on them. Used cars offered through a manufacturer’s “certified” program may occasionally qualify for no-interest financing.
    • Length of term. The shorter the length of your loan, the quicker a lender can expect to get their money back and the friendlier the terms will often be. Keep in mind that while a short-term loan may include a lower interest rate, your payments will be higher and could put more stress on your budget.
    • Down payment. Putting a hefty amount of money down on a car signals to the lender that you are committed to paying off your loan. Borrowing a large amount of money or putting nothing down entails more risk for the lender, and will probably result in a higher interest rate.

    Finance a New or Used Car with City Bank

    Let City Bank be your bank of choice when it comes to auto loans in Dallas. You’ll love our competitive rates and easy online application process. Fill out a credit application now to get started on the approval process!

  • Texas Home Prices Hit All-Time High in Summer 2015

    October 01, 2015, 8:32 AM

    In June, City Bank reported that median home sales prices in North Texas had surpassed the $200,000 mark to reach an all-time high of $207,000. And statewide, it turns out the real estate momentum isn’t far behind, according to the 2015-Q2 Texas Quarterly Housing Report released at the beginning of August. 

    Fewer Houses, Rising Prices

    The state’s Quarterly Housing Report for second quarter 2015 reveals that the median home price hit the $200,000 mark, up a whopping 8.1% over the same time in 2014. During the same timeframe, the average home price grew to $258,786, an increase of 9% year-over-year. Concurrently, the number of homes available for purchase decreased slightly, with the number of active listings 3.5% lower than the second quarter of 2014.

    “This is the first time the median price for Texas homes has risen to $200,000 and an all-time high for Texas home prices,” the Texas Association of Realtors noted.

    Selling Like Hotcakes

    The total number of single-family homes sold was up 4.7% to 88,906, a 4.7% increase from the same time last year. And the listings that did go up for sale didn’t hang around long. The Quarterly Housing Report reveals an average of 57 days on the market, nine fewer days year-over-year.

    Statewide the inventory of homes fell to 3.8 months, indicating a seller’s market. Experts consider a 6-6.5 month supply of homes to be a balanced housing market.

    Scott Kesner, chairman of the Texas Association of Realtors, pointed out that the strong second quarter came despite lower oil prices, and home sales were stronger than 2014 when oil prices almost topped $100 per barrel. “This is further evidence of the strong and enduring demand for Texas real estate,” said Kesner.

    Ready to Jump In?

    With loan processing and decision-making made locally, City Bank can help you make your dreams of homeownership a reality. Real estate lending in Lubbock and many other Texas communities is our specialty. Fill out our full online application to apply for a mortgage loan, 24 hours a day, or call us at (800) 687-2265.

  • 5 Back-to-School Savings Tips for the College-Bound

    September 23, 2015, 3:39 PM

    As the price of a college education continues to creep higher, it becomes ever more essential for families to search out smart ways to offset the cost of tuition. Many young adults begin their college years without a plan and end up with a mountain of debt to go along with their diploma. Fortunately, there are a multitude of money-saving tips available to prospective college students. Here are just a few of them.

    • Create a budget. There are a variety of free apps and online tools available to help techies keep track of finances, such as Mint.com and Everydollar.com as well as the Money Manager feature within your City Bank Online Banking. Sticking to a budget will help you avoid impulse buys and limit the amount charged to credit cards. Consider keeping a credit card only for emergencies, or not at all. Instead, set up an interest-bearing checking account at City Bank to use for unexpected expenses.
    • Buy or rent used textbooks. The cost of new textbooks can really add up, so look for them at a used bookstore first, or borrow or buy them from others who have taken the course. Other options include buying used online, finding an e-book version, or even checking them out from the library. Remember to sell back your books at the end of the semester to get some of your money back.
    • Take advantage of your student ID. A student ID is gold in a college town. It will get you discounts at restaurants, movies and a variety of other businesses and events. Companies such as Verizon Wireless and Amazon Prime also offer student discounts.
    • Check out campus events and activities. Not only do campus events give you the opportunity to socialize and get involved in campus life, they often offer free food, entertainment and more.
    • Become a Resident Assistant (RA). After your freshman year, think about applying to become an RA. This position requires commitment and responsibility over other students, and many schools sweeten the pot by offering RAs free or discounted room and board.

    We’re Right Around the Corner

    From auto loans to personal loans in College Station, City Bank is here to meet your student banking needs 24/7. Walk into our College Station Branch at 1409 University Drive East for friendly service from your hometown bank.


  • City Bank Recognized as a Best Banks to Work For in the Nation

    September 14, 2015, 9:33 AM

    City Bank, headquartered in Lubbock, Texas, has been named one of the Best Banks to Work For in 2015. Since the program’s beginning in 2013, City Bank has obtained this distinct award. The program, which was initiated to identify, recognize, and honor the best banks to work for in the nation, is a project of American Banker and Best Companies Group.

    The culture of the bank, combined with the many employee-focused programs, such as the Wellness Program, has helped City Bank be named one of the Best Banks to Work For, for the third year in a row. The City Bank Wellness Program was implemented in the late 1990s and pays incentives to employees to promote exercise, weight loss, and a healthy lifestyle.

    A variety of family-friendly events and unique opportunities provide employees and their families an atmosphere and corporate lifestyle that goes beyond the workplace. “The people, passion, and unique culture create a special environment that we are all very proud of,” says City Bank President and CEO, Cory T. Newsom. “It’s evident that the passion for making City Bank such a great place to work makes a positive impact in the lives of our employees and their families.”

    Determining the Best Banks to Work For involved a two-step process; The first step consisted of evaluating each participating bank’s workplace policies, practices, and demographics. The second part consisted of employee surveys aimed at assessing the experiences and attitudes of individual employees with respect to their workplace. Best Companies Group managed the overall registration and survey process and also analyzed the data and used their expertise to determine the final ranking. 

    For more information on the Best Banks to Work For program, visit www.BestBankstoWorkFor.com

  • City Bank Announced as a Top Community Bank Leader in Social Media

    August 28, 2015, 8:36 AM
    Washington, D.C.

    ICBA highlights 50 community banks excelling at social media in annual list

    Social media is now a mainstream communication channel that consumers and small businesses across the nation utilize daily. The Independent Community Bankers of America® (ICBA) is proud to highlight outstanding community banks and community bankers who make social media an integral part of their marketing and communications strategy.

    ICBA today released its Top 50 Community Bank Leaders in Social Media. This is the third year the association has held this contest, which was sponsored by Shazam and highlights social media trailblazers among the community bank industry. City Bank was featured on this list.

    “Congratulations to City Bank for being featured on ICBA’s Top 50 Community Bank Leaders in Social Media list,” ICBA Executive Vice President and Chief Marketing Officer Chris Lorence said. “These top community banks understand that building a reputable financial brand goes beyond just a physical presence on Main Street. They consistently introduce fresh content and interact with their customers both in-person and online. ICBA is proud to highlight City Bank for making social media and digital communications part of their overall marketing and communications strategy.”

    More than 6,000 community banks throughout the nation were eligible to be part of ICBA’s list. ICBA sought nominations from the nation’s community banks from May to June and received nearly 300 nominations. Community banks were scored based on their engagement with fans and followers, the content distributed on their social media platforms, the number of followers they have and the frequency of posting new content.

    The community banks and community bankers featured on ICBA’s Top 50 Community Bank Leaders in Social Media and the Top 25 Community Bank Influencers on Twitter will be profiled in September’s issue of ICBA Independent Banker®, ICBA’s award-winning magazine.

    “City Bank is pleased to be featured on ICBA’s Top 50 Community Bank Leaders in Social Media list,” said VP, Director Marketing, Steve Smothers for City Bank. “It is an honor for us to be recognized by ICBA for our efforts on social media because we see it as a unique, essential and vital channel for communicating with our customers and community. City Bank’s digital presence has strengthened ties with our communities and customers.”

    To view all 50 community banks featured, visit icba.org/smleaders. For additional information about ICBA, visit www.icba.org.

    About ICBA

    The Independent Community Bankers of America®, the nation’s voice for more than 6,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit icba.org.


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