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Community First Bank Review

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Community First Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1999, Community First Bank has $351 million in assets and $315 million in deposits, making the institution a small bank. Community First Bank, whose headquarters are in New Iberia, Louisiana, lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. At a SmartAsset rating of 3.9 stars out of 5, Community First Bank should be near the middle of the pack in your search for a bank. Community First Bank offers a selection of banking products, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Community First 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 bet for returning the highest income on your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

3.1
SmartAsset Average: 3.5

With a savings rate of 0.15%, Community First Bank ranks poorly compared to other U.S. banks. Community First Bank's CD rates are 0.50% and 1.76% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.15%. Given its below average savings rate, you should consider looking elsewhere to open savings accounts.

How Community First Bank's Savings Rates Compare

Community First Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Community First Bank charges customers extremely low fees compared to other U.S. banks. With no monthly fee, Community First Bank is ideal for people who want a simple checking account. Community First Bank reimburses their out-of-network ATM charges (with conditions), making finding an ATM a free and convenient process.

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

Community First Bank is a brick-and-mortar bank, with eight total bank locations in Louisiana. With mobile and web apps, Community First Bank makes mobile banking easy, even on the go. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Thursday, 8:00 a.m. to 5:00 p.m. PT; Friday, and 8:00 a.m. to 6:00 p.m. PT. Community First Bank's mobile app lets you control your accounts by checking current statements, sending and receiving funds as well as accessing customer service. Community First Bank gets an excellent consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial 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

4.8
SmartAsset Average: 4.8

Community First Bank ranks as a small bank owning assets totaling $351 million as well as $315 million in deposits. Its Texas Ratio is 4.66%, denoting that the bank is in excellent financial condition and far from failure. Additionally, Community 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

4.66%
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 Community First Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $200
Checking Account 0.15% APY $1500
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 1.26% APY
  • 36 Month: 1.51% APY
  • 48 Month: 1.51% APY
  • 60 Month: 1.76% APY
$1000 for all terms
Money Market Accounts 0.15% APY 0.15% APY $10000 $15000

Community First Bank has several deposit products like savings accounts, checking accounts and CDs that provide you with many options to manage your money. Community First Bank does not have the best savings rate, which means you should consider looking 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. Community First Bank's CD rates are fair as compared against the national average.

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Find a Community First Bank Near Me

Community First Bank has eight physical locations in the U.S.

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