Loading
Tap on the profile icon to edit
your financial details.

First Bank and Trust Review

Your Details Done
by Updated
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
First Bank and Trust Savings
0.08% APY

Overview

Our Rating: 4.3/5 How we calculated this rating

First Bank and Trust first started operating in 1991 with its headquarters in New Orleans, Louisiana. It manages assets totaling $938 million as well as $794 million in deposits, making it a medium-size bank. First Bank and Trust has superb customer service access, with multiple options of getting help from representatives, including live chat and all-day customer service. It is a conventional brick-and-mortar bank, which means easier access to service representatives at a physical location, in addition to its online and mobile presence. Overall, First Bank and Trust is a solid pick to be your bank at a rating of 4.3 out of 5 stars from the SmartAsset team. 

First Bank and Trust offers the full selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First Bank and Trust has a fair savings rate compared to the average savings account. The bank's standard checking account carries a monthly fee of $3.00, which is acceptable compared to the national average. Opening accounts in the same place can be ideal for getting the largest interest rates on your income while keeping convenient control over your funds.

Service Quality

First Bank and Trust is a brick-and-mortar bank, with 15 total branches in Florida, Louisiana and Mississippi. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It has access to all-day access to representatives. Additionally, First Bank and Trust customers can access live chat for help, giving customers an easy access point throughout the day.

First Bank and Trust gets high praise from users for its mobile banking services: the First Bank and Trust mobile app has an overall rating of 5.0 out of 5 (out of 1 ratings on iOS and Android) compared to the national average of 3.8. First Bank and Trust's mobile app lets you manage your bank accounts by reviewing account balances, transferring funds and accessing support representatives. First Bank and Trust gets an outstanding consumer satisfaction score based on comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.08% APY $2,500 Compare Offers
Certificates of Deposit
  • 12 Month: 1.56% APY
  • 24 Month: 2.02% APY
  • 36 Month: 2.28% APY
  • 48 Month: 2.28% APY
  • 60 Month: 3.05% APY
$1,000 for all tiers Compare Offers
Money Market Accounts
  • 10K tier: 0.35% APY
  • 25K tier: 0.40% APY
  • $1
  • $25,000
Compare Offers
Checking Accounts 0.05% APY $1,500 Compare Offers

First Bank and Trust offers several deposit products which include savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. It does not have the best savings rate, which means you should think about 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 Bank and Trust's CD rates are great in comparison to the national average.

Rates

With a savings rate of 0.08%, First Bank and Trust ranks below the mean in comparison to the average U.S. bank. Its one-year CD earns at a rate of 1.56% and the five-year CD has a rate of 2.02%, while its highest-yielding money market account has an APY of 0.40%. It has a fair savings rate, which means other popular banks have higher rates. Consider looking elsewhere to open savings accounts.

Compare First Bank and Trust to Other Competitive Offers

Fees

First Bank and Trust charges its customers average fees in comparison to other U.S. banks. First Bank and Trust's checking account has a monthly fee of $3.00, rating it average for anyone looking for a hassle-free account. Also, at $35, its overdraft fee is lower than the average overdraft fee charged by U.S. banks, making it good for those who spend a lot of money on their debit card. 

Financial Health

First Bank and Trust is currently a medium-size bank with assets totaling $938 million as well as $794 million in deposits. First Bank and Trust's Texas Ratio is 9.32%, denoting a small opportunity of failure. Additionally, First 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 Bank and Trust Near Me

First Bank and Trust has 15 physical locations in the U.S.

Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure