First Arkansas Bank and Trust Review

First Arkansas Bank and Trust Savings

1.25% APY

First Arkansas Bank and Trust started in 1949 and has its headquarters in Jacksonville, Arkansas. It has assets totaling $1.13 billion as well as $898.3 million in deposits, making it a medium-size bank. First Arkansas Bank and Trust has above-average access to customer service with all-day support available, great for getting help during the work week. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset experts rated the bank 3.9 stars out of 5, suggesting First Arkansas Bank and Trust is a respectable bank that deserves your consideration. 

First Arkansas Bank and Trust has a full suite of product offerings, which include savings accounts, checking accounts, CDs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's standard checking account does not carry a monthly charge. Keeping both checking and savings accounts in one place is ideal for getting the most return on your deposits while retaining access to your funds without getting penalized for withdrawing.

Service Quality

First Arkansas Bank and Trust is a brick-and-mortar bank, with 23 total bank locations in Arkansas and Georgia. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It provides all-day access to representatives. 

First Arkansas Bank and Trust gets mediocre reviews from customers for its online presence: with 85 customer reviews on iOS and Android platforms, the First Arkansas Bank and Trust mobile app is scored at 1.6 out of 5 (compared to the national average of 3.8). First Arkansas Bank and Trust's mobile app lets you control your bank accounts by looking at monthly statements, sending and receiving funds and accessing support representatives. First Arkansas Bank and Trust receives an exceptional consumer satisfaction score based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency. 

Products Offered

First Arkansas Bank and Trust have several deposit products like savings accounts, checking accounts and CDs, giving you many options to manage your money. First Arkansas Bank and Trust does not have the best savings rate, which means you should consider looking elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. First Arkansas Bank and Trust's CD rates are fair in comparison to the national average.

Rates

With a savings rate of 1.25%, First Arkansas Bank and Trust ranks below the mean in comparison to the average U.S. bank. First Arkansas Bank and Trust's seven-month special CD earns at a rate of 5.26%, while its highest-yielding money market account earns at a rate of 5.12%. Its interest checking rate is as high as 4.75% as long as you meet specific requirements each month, otherwise, you will receive an APY of 0.10%. Given its below-average savings rate, you should consider looking at the competition to open savings accounts.

Fees

First Arkansas Bank and Trust has typically extremely low fees in comparison to the national average. With no monthly fee, First Arkansas Bank and Trust's checking account is perfect for people who need a hassle-free banking experience. 

Financial Health

First Arkansas Bank and Trust ranks as a medium-size bank owning assets totaling $1.13 billion as well as $898.3 million in deposits. First Arkansas Bank and Trust has an excellent Texas Ratio of 13.14%, indicating an exceptionally minute possibility of failure. Additionally, First Arkansas Bank and Trust is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a First Arkansas Bank and Trust Near Me

First Arkansas Bank and Trust has 23 physical branches across the U.S.