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Citizens 1st Bank Review

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Citizens 1st Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Citizens 1st Bank was founded in 1920 with headquarters in Tyler, Texas. Citizens 1st Bank owns $739 million in assets along with deposits totaling $502 million, making it a medium-size bank. Citizens 1st Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Overall, Citizens 1st Bank is a respectable bank that deserves your consideration, with a rating of 4.0 out of 5 stars from our team. Citizens 1st Bank provides customers with a full array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Citizens 1st Bank offers an option without a maintenance or monthly fee. Locating an institution with free checking as well as a high interest rate savings account is your best bet for gaining the highest income from your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

3.6
SmartAsset Average: 3.5

Citizens 1st Bank features a savings rate of 0.25%, which is poor compared to the national average. Citizens 1st Bank's one-year and five-year term lengths CDs earn at a rate of 1.41% and 2.52%, respectively, while its highest-yielding money market account earns at an APY of 0.35%. Given its poor savings rate, you should consider opting for higher earning savings accounts with other banks.

How Citizens 1st Bank's Savings Rates Compare

Citizens 1st Bank Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Citizens 1st Bank charges customers extremely low fees in comparison to the national average. With no monthly fee, Citizens 1st Bank is perfect for those who want a simple banking experience. Citizens 1st Bank unfortunately does not reimburse out-of-network ATM charges, meaning you'll need to locate a Citizens 1st Bank ATM or accept the fee.

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

2.5
SmartAsset Average: 3.7

Citizens 1st Bank is a brick-and-mortar bank, with four total bank locations in Texas. With a mobile app, Citizens 1st Bank provides easy account access, even from home or work. Citizens 1st Bank gets a superb consumer satisfaction rating due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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

5.0
SmartAsset Average: 4.8

Citizens 1st Bank is currently a medium-size bank with assets totaling $739 million as well as deposits totaling $502 million. Citizens 1st Bank's Texas Ratio is 0.76%, indicating that Citizens 1st Bank is in outstanding financial well-being and unlikely to fail. Additionally, Citizens 1st Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Citizens 1st Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1000
Checking Account 0.11% APY $1500
Certificates of Deposit
  • 12 Month: 1.41% APY
  • 24 Month: 1.86% APY
  • 36 Month: 2.12% APY
  • 48 Month: 2.28% APY
  • 60 Month: 2.52% APY
$1000 for all terms
Money Market Account 0.35% APY $2500

Citizens 1st Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Citizens 1st Bank does not have the best savings rate, which means you should think about taking a look elsewhere 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. Citizens 1st Bank's CD rates are fair compared to the national average.

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Find a Citizens 1st Bank Near Me

Citizens 1st Bank has four locations across the U.S.

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