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First Bank Review

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First Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1906, First Bank has assets totaling $6 billion as well as $5 billion in deposits, making it a large bank. First Bank, whose headquarters are in Creve Coeur, Missouri, 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 offerings. At a SmartAsset rating of 3.2 out of 5 stars, First Bank should be more closely analyzed to see if its features satisfy your needs. First Bank has a varied selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account features a $9.95 monthly fee, making it a rather pricey bank for checking. Using an institution with no-fee checking, in addition to a high interest rate savings account is your best bet for accruing the most income on your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.05%, First Bank ranks poorly compared to other U.S. banks. First Bank's one-year CD has a rate of 0.20% and the five-year CD has a rate of 1.00%, while its highest-yielding money market account has an APY of 0.25%. Given First Bank's poor savings rate, you should consider taking a look at other banks for savings accounts.

How First Bank's Savings Rates Compare

First Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, First Bank charges its customers high fees compared to the average U.S. bank. First Bank's checking account has a monthly fee of $9.95, rating it fair for anyone looking for a hassle-free account. First Bank unfortunately does not refund out-of-network ATM fees, meaning you'll need to locate a First Bank ATM or eat the fee.

Monthly Fee $9.95 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

First Bank is a brick-and-mortar bank, with 98 total bank locations in California, Illinois and Missouri. With mobile and web apps, First Bank makes mobile banking straightforward, even on the go. It does not provide access to all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 7:00 a.m. to 9:00 p.m. CT; Saturday, and 9:00 a.m. to 5:30 p.m. CT. First Bank receives unsatisfactory marks from customers for its online presence. The First Bank mobile app is rated at 2.2 out of 5 (out of 140 customer reviews on iOS and Android) compared to the national average of 3.8. You can utilize First Bank's mobile app to control your finances by checking monthly statements, sending and receiving money and reaching support representatives. First Bank receives a superb consumer satisfaction rating based on comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 2.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

First Bank is a large bank with assets totaling $6 billion and $5 billion in deposits. Its Texas Ratio is 1.77%, denoting a low probability of failure. Additionally, First 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 First Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Checking Account 0.03% APY $1
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.35% APY
  • 36 Month: 1.26% APY
  • 48 Month: 0.70% APY
  • 60 Month: 1.00% APY
$1000 for all terms
Money Market Account 0.15% APY $10000

First 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. First 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. First Bank's CD rates are fair compared to other U.S. banks.

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Find a First Bank Near Me

First Bank has 98 physical locations across the U.S.

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