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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

Started in 1917, Fayetteville Bank has assets totaling $491 million along with $433 million in deposits, classifying the institution as a medium-size bank. Fayetteville Bank, whose headquarters are in Fayetteville, Texas, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 4.7 out of 5 stars, Fayetteville Bank should be near the top of your list for your bank search. Fayetteville Bank has a varied choice of product offerings, 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 interest rate savings account are the best option for getting the most income on your deposits alongside convenient access to your funds.

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

Fayetteville Bank has a savings rate of 0.54%, which is poor 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 noncompetitive savings rate, you should consider taking a look at other banks for savings accounts.

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 typically has extremely low fees compared to other U.S. banks. Also, at $30.00, it has a markedly lower overdraft fee compared to the average overdraft fee charged by U.S. banks. Fayetteville Bank doesn't refund out-of-network ATM fees, meaning you'll need to search for a Fayetteville Bank ATM or accept the fee.

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 bank locations in Texas. With mobile and web apps, Fayetteville Bank makes mobile banking convenient, even on the go. Fayetteville Bank receives average marks from users for its mobile app. The Fayetteville Bank mobile app has been given a 3.7 out of 5 (with 3 ratings on Apple and Android) compared to the national average of 3.8. You can access Fayetteville Bank's app to manage your funds by checking account balances, transferring funds and accessing support representatives. Fayetteville Bank gets an outstanding consumer satisfaction rating due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed 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 deposits totaling $433 million. It has an excellent Texas Ratio of 0.00%, indicating a minute probability of failure. 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 including 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 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. Fayetteville Bank's CD rates are fair compared to the national average.

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Find a Fayetteville Bank Near Me

Fayetteville Bank has three physical branches in the U.S.

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