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Farm Bureau Bank FSB Review

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Farm Bureau Bank FSB Money Market
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Farm Bureau Bank FSB first started operating in 1999 and its headquarters are located in Sparks, Nevada. It manages assets of $774 million as well as $676 million in deposits, which makes it a medium-size bank. Farm Bureau Bank FSB lacks premium access to customer service, 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 offerings. SmartAsset has rated Farm Bureau Bank FSB 4.2 out of 5 stars, indicating that it is a great bank that you should seriously consider. Farm Bureau Bank FSB provides customers with the full selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Farm Bureau Bank FSB has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Farm Bureau Bank FSB offers an option without a monthly fee. Institutions that offer no-fee checking as well as a high interest rate savings account are the best option for returning the highest income on your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

4.3
SmartAsset Average: 3.5

Its one-year CD has a rate of 1.41% and the five-year CD has a rate of 2.53%, while its highest-yielding money market account earns at an APY of 0.15%.

How Farm Bureau Bank FSB's Savings Rates Compare

Farm Bureau Bank FSB Money Market 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Farm Bureau Bank FSB charges customers extremely low fees compared to other U.S. banks. With no monthly fee, Farm Bureau Bank FSB is perfect for people who want a simple banking experience. For those who often frequent the ATM, Farm Bureau Bank FSB is perfect because it charges no out-of-network ATM fees. Additionally, at $30.00, its overdraft fee is significantly lower than the national average. Farm Bureau Bank FSB unfortunately does not refund out-of-network ATM charges, meaning you'll have to locate a Farm Bureau Bank FSB ATM or pay the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

2.5
SmartAsset Average: 3.7

Farm Bureau Bank FSB is a brick-and-mortar bank, with two total branches in Nevada and Texas. It also offers access to mobile and web apps for straightforward access and banking on the go. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 7:00 a.m. to 7:00 p.m. CT; Saturday, and 8:00 a.m. to 12:00 p.m. CT. Farm Bureau Bank FSB's mobile app allows you to manage your finances by reviewing account balances, sending and receiving funds as well as accessing support representatives. Farm Bureau Bank FSB receives a superb consumer satisfaction rating due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored 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

4.9
SmartAsset Average: 4.8

Farm Bureau Bank FSB ranks as a medium-size bank and handles $774 million in assets as well as deposits totaling $676 million. Farm Bureau Bank FSB's Texas Ratio is 3.81%, suggesting a minute chance of failure. Additionally, Farm Bureau Bank FSB is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.81%
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 Farm Bureau Bank FSB to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Checking Account 0.05% APY $2500
Certificates of Deposit
  • 12 Month: 1.41% APY
  • 24 Month: 1.61% APY
  • 36 Month: 1.97% APY
  • 48 Month: 2.33% APY
  • 60 Month: 2.53% APY
$1000 for all terms
Money Market Account 0.1% APY $2500

Farm Bureau Bank FSB has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Farm Bureau Bank FSB does not have the best savings rate, which means you should think about 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. Farm Bureau Bank FSB's CD rates are fair compared to other U.S. banks.

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Find a Farm Bureau Bank FSB Near Me

Farm Bureau Bank FSB has two physical branches across the U.S.

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