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First Savings Bank Review

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First Savings Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


First Savings Bank started in 1989 and its headquarters are located in Beresford, South Dakota. First Savings Bank handles assets of $711 million along with $586 million in deposits, which makes it a medium-size bank. First Savings Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. At a SmartAsset rating of 4.2 stars out of 5, First Savings Bank should be solidly in contention for your choice of bank. First Savings Bank has a full suite of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, First Savings Bank's standard checking account does not have a monthly fee. Institutions that offer no-fee checking and a high savings APY are the best option for accruing the most income on your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

First Savings Bank features a savings rate of 0.10%, which is poor compared to the national average. Its one-year CD has a rate of 0.35% and the five-year CD earns at a rate of 1.00%, while its highest-yielding money market account has an APY of 0.10%. Given its below average savings rate, you should consider looking elsewhere to open savings accounts.

How First Savings Bank's Savings Rates Compare

First Savings Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

First Savings Bank typically has extremely low fees compared to the average U.S. bank. Its checking account has no monthly fee, rating it excellent for anyone looking for a simple account. First Savings Bank unfortunately doesn't refund out-of-network ATM charges, meaning you'll have to find a First Savings Bank ATM or pay the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

First Savings Bank is a brick-and-mortar bank, with 22 total bank locations in Arizona, Nebraska, Nevada, New Mexico, South Dakota and Texas. It also offers access to mobile and web apps for straightforward access and banking on the go. First Savings Bank gets fairly positive feedback from users for its mobile app. With 26 ratings across both iOS and Android platforms, the First Savings Bank mobile app is scored at 4.1 out of 5 (compared to the national average of 3.8). You can access First Savings Bank's mobile app to control your funds by reviewing account balances, sending and receiving money and accessing customer service. First Savings Bank gets a superb consumer satisfaction score based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

First Savings Bank ranks as a medium-size bank with $711 million in assets as well as $586 million in deposits. First Savings Bank's Texas Ratio is 7.47%, denoting a tiny likelihood of failure. Additionally, First Savings Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare First Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.03% APY $2500
Certificates of Deposit
  • 12 Month: 0.35% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.65% APY
  • 48 Month: 0.80% APY
  • 60 Month: 1.00% APY
$10000 for all terms
Money Market Account 0.05% APY $1000

First Savings Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. First Savings Bank does not have the best savings rate, which means you should consider other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. First Savings Bank's CD rates are fair compared to other U.S. banks.

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Find a First Savings Bank Near Me

First Savings Bank has 22 physical locations in the U.S.

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