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Fayetteville Bank Review

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Fayetteville Bank Savings
0.54% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1917, Fayetteville Bank has assets totaling $491 million along with deposits totaling $433 million, ranking it as a medium-size bank. Fayetteville Bank, whose headquarters are in Fayetteville, Texas, 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 apps. Overall, Fayetteville Bank is an exceptional bank that warrants a strong look, with a score of 4.7 out of 5 stars from the SmartAsset experts. Fayetteville Bank offers a complete suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and brokerage accounts. Fayetteville Bank has a fair savings rate compared to the average savings account. Banks that offer no-fee checking as well as a high savings APY are the best option for gaining the most income on your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.7/5
National Average: 4.1

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

Rates

4.8
SmartAsset Average: 3.5

With a savings rate of 0.54%, Fayetteville Bank ranks poorly compared to the average U.S. bank. Fayetteville Bank's one-year and five-year term lengths CDs earn at a rate of 1.92% and 2.33%, respectively. Given Fayetteville Bank's poor savings rate, you should consider choosing another bank to earn more on your deposits.

How Fayetteville Bank's Savings Rates Compare

Fayetteville Bank Savings 0.54 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Fayetteville Bank has generally extremely low fees in comparison to the national average. Also, at $30.00, it has a noticeably lower overdraft fee compared to the average U.S. overdraft fee. Fayetteville Bank unfortunately doesn't refund out-of-network ATM fees, which means you will need to find a Fayetteville Bank ATM or eat the ATM charge.

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

3.8
SmartAsset Average: 3.7

Fayetteville Bank is a brick-and-mortar bank, with three total branches in Texas. With mobile and web apps, Fayetteville Bank makes account access easy, even on the go. Fayetteville Bank receives moderate marks from customers for its mobile banking services. The Fayetteville Bank mobile app has an overall rating of 3.7 out of 5 (with 3 ratings on Apple and Android) compared to the national average of 3.8. You can utilize Fayetteville Bank's app to manage your finances by looking at current statements, sending and receiving funds as well as accessing customer service. Fayetteville Bank gets a superb consumer satisfaction score due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.7/5
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

Fayetteville Bank is a medium-size bank with assets totaling $491 million as well as $433 million in deposits. Fayetteville Bank has an excellent Texas Ratio of 0.00%, suggesting that the bank is in terrific financial health and unlikely to fail. Additionally, Fayetteville 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 Fayetteville Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.54% APY $100
Checking Account 0.25% APY $1
Certificates of Deposit
  • 12 Month: 1.92% APY
  • 24 Month: 2.02% APY
  • 36 Month: 2.12% APY
  • 48 Month: 2.22% APY
  • 60 Month: 2.33% APY
$500 for all terms

Fayetteville 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. Fayetteville Bank does not have the best savings rate, which means you should consider 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. Fayetteville Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Fayetteville Bank Near Me

Fayetteville Bank has three physical locations across the U.S.

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