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Citizens 1st Bank Review

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

Overview

Citizens 1st Bank was founded in 1920 and has its headquarters in Tyler, Texas. Citizens 1st Bank handles $739 million in assets and deposits totaling $502 million, classifying it as a medium-size bank. Citizens 1st Bank lacks premium access to customer service, 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. SmartAsset has rated the bank 4 out of 5 stars, indicating that Citizens 1st Bank is a good bank that you should consider. Citizens 1st Bank offers the full selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Citizens 1st Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Citizens 1st Bank's ordinary checking account does not have a monthly fee. Locating a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is your best bet for accruing the most income on your deposits while having easy access to your money.

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 has a savings rate of 0.10%, which is fair as compared against 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 a rate of 0.35%. Given Citizens 1st Bank's noncompetitive savings rate, you should consider taking a look at other banks for savings accounts.

How Citizens 1st Bank's Savings Rates Compare

Citizens 1st Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Citizens 1st Bank charges its customers extremely low fees in comparison to the average U.S. bank. Its checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. Citizens 1st Bank doesn't reimburse out-of-network ATM fees, which means you will need to locate a Citizens 1st Bank ATM or eat 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

2.5
SmartAsset Average: 3.7

Citizens 1st Bank is a brick-and-mortar bank, with four total bank locations in Texas. It also offers access to a web app, for an easy online-banking experience. Citizens 1st Bank receives a superb consumer satisfaction score based on comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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 a medium-size bank and handles $739 million in assets and deposits totaling $502 million. Its Texas Ratio is 0.76%, signifying that the bank is in excellent financial shape 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 0.101% 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 has several deposit products like 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 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. Citizens 1st Bank's CD rates are fair as compared against the national average.

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Find a Citizens 1st Bank Near Me

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

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