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Citizens First Bank Review

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

Overview

Started in 1999, Citizens First Bank has $465 million in assets and $373 million in deposits, ranking the institution as a medium-size bank. Citizens First Bank, whose headquarters are in Bowling Green, Kentucky, 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. We ranked the bank at a 4.4 out of 5 stars, which means Citizens First Bank is a great bank that you should seriously consider. Citizens First Bank provides customers with a full array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Citizens First Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Citizens First Bank's ordinary checking account does not have a monthly fee. Finding a checking account with no monthly fee, in addition to a savings account with a high APY at the same institution is your best option for returning the most income on your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

4.0
SmartAsset Average: 3.5

Citizens First Bank has a savings rate of 0.10%, which is poor compared to the average U.S. bank. Citizens First Bank's one-year CD earns at a rate of 1.90% and the five-year CD earns at a rate of 3.00%, while its highest-yielding money market account has a rate of 0.15%. Given Citizens First Bank's noncompetitive savings rate, you should think about other options to earn more on your deposits.

How Citizens First Bank's Savings Rates Compare

Citizens First Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Citizens First Bank charges customers extremely low fees in comparison to the national average. Its checking account has no monthly fee, rating it excellent for anyone looking for a simple account. Citizens First Bank doesn't reimburse out-of-network ATM fees, which means you will need to search for a Citizens First Bank ATM or pay the ATM charge.

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

3.6
SmartAsset Average: 3.7

Citizens First Bank is a brick-and-mortar bank, with nine total bank locations in Kentucky. With mobile and web apps, Citizens First Bank makes mobile banking convenient, even on the go. Citizens First Bank gets poor reviews from customers for its mobile app. The Citizens First Bank mobile app has an overall rating of 3.3 out of 5 (with 4,900 ratings on iOS and Android) compared to the national average of 3.8. You can utilize Citizens First Bank's mobile app to control your bank accounts by looking at account balances, sending and receiving funds as well as reaching support representatives. Citizens First Bank receives a superb consumer satisfaction rating based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Citizens First Bank is a medium-size bank and owns assets totaling $465 million as well as deposits totaling $373 million. Citizens First Bank's Texas Ratio is 2.46%, denoting that the bank is in outstanding financial well-being and far from failure. Additionally, Citizens First 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 First Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $200
Checking Account 0.25% APY $5000
Certificates of Deposit
  • 12 Month: 1.90% APY
  • 24 Month: 1.50% APY
  • 36 Month: 1.50% APY
  • 48 Month: 2.75% APY
  • 60 Month: 3.00% APY
$500 for all terms
Money Market Accounts 0.15% APY 0.15% APY $10000 $15000

Citizens First 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 First 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 First Bank's CD rates are fair as compared against the national average.

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Find a Citizens First Bank Near Me

Citizens First Bank has nine physical branches across the U.S.

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