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Farm Bureau Bank FSB Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
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 started in 1999 and its headquarters are located in Sparks, Nevada. It handles $774 million in assets as well as deposits totaling $676 million, 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 traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Coming in at a commendable 4.2 stars out of 5, Farm Bureau Bank FSB proves it is a great bank that you should seriously consider. Farm Bureau Bank FSB provides customers with the complete selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Farm Bureau Bank FSB has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, the bank's standard checking account does not have a monthly fee. Finding a checking account with no monthly fee and a savings account with a high interest rate at the same bank is the best option for accruing the most income from your deposits while having convenient 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 and five-year term lengths CDs earn at a rate of 1.77% and 2.53%, respectively, while its highest-yielding money market account has a rate 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 has generally extremely low fees compared to other U.S. banks. Farm Bureau Bank FSB's checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. For those who will need cash in a pinch, it is ideal because it has no out-of-network ATM fees. Also, it has an overdraft fee of $30.00, which is noticeably lower than that of other U.S. banks. Farm Bureau Bank FSB does not refund out-of-network ATM charges, meaning you'll be required to find a Farm Bureau Bank FSB ATM or pay the ATM charge.

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 bank locations in Nevada and Texas. It also offers access to mobile and web apps for simple 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. You can access Farm Bureau Bank FSB's mobile app to manage your accounts by checking account balances, sending and receiving money and reaching customer service. Farm Bureau Bank FSB gets an excellent consumer satisfaction score due to relatively few consumer complaints brought to 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

4.9
SmartAsset Average: 4.8

Farm Bureau Bank FSB is a medium-size bank owning $774 million in assets as well as $676 million in deposits. It has an excellent Texas Ratio of 3.81%, indicating 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: 1.77% APY
  • 24 Month: 2.06% APY
  • 36 Month: 2.10% APY
  • 48 Month: 2.33% APY
  • 60 Month: 2.53% APY
$1000 for all terms
Money Market Accounts 0.1% APY 0.15% APY $10000 $15000

Farm Bureau Bank FSB offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Farm Bureau Bank FSB does not have the best savings rate, which means you should consider 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. Farm Bureau Bank FSB's CD rates are fair compared to the national average.

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Find a Farm Bureau Bank FSB Near Me

Farm Bureau Bank FSB has two branches in the U.S.

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