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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


First Bank was founded in 1906 and is headquartered in Creve Coeur, Missouri. First Bank owns assets of $6 billion as well as deposits totaling $5 billion, which makes it a large bank. First Bank lacks premium access to customer service, 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 offerings. Overall, First Bank is a satisfactory bank that does not stack up to some of the larger banks, with a rating of 3.2 out of 5 stars from the SmartAsset experts. First Bank offers a variety of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. First Bank has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account maintains a $9.95 monthly fee, although banks sometimes have requirements that allow you to waive the fee. Locating a bank with no-fee checking, in addition to a high interest rate savings account is your best option for gaining the highest income from your deposits alongside 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

First Bank features a savings rate of 0.05%, which is poor in comparison to the average U.S. bank. First Bank's one-year and five-year term lengths CDs earn at a rate of 1.00% and 2.52%, respectively, while its highest-yielding money market account has a rate of 1.00%. Given First Bank's poor savings rate, you should think about 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 customers high fees in comparison to the average U.S. bank. Its checking account has a monthly fee of $9.95, which makes it fair for anyone looking for a simple account. First Bank unfortunately does not refund out-of-network ATM charges, meaning you'll have to locate a First Bank ATM or pay the cost of withdrawal.

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 account access easy, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its 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's online and mobile banking platforms receive poor feedback from customers. With 140 customer reviews on iOS and Android platforms, the First Bank mobile app has an overall rating of 2.2 out of 5 (compared to the national average of 3.8). First Bank's mobile app lets you manage your bank accounts by looking at account balances, sending and receiving money as well as accessing customer service. First Bank gets an outstanding consumer satisfaction rating based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored 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 currently a large bank and manages $6 billion in assets as well as $5 billion in deposits. First Bank has an excellent Texas Ratio of 1.77%, indicating that the bank is in outstanding financial health and far from 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: 1.00% APY
  • 24 Month: 1.76% APY
  • 36 Month: 2.02% APY
  • 48 Month: 2.02% APY
  • 60 Month: 2.52% APY
$1000 for all terms
Money Market Account 1.0% APY $25000

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 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. First Bank's CD rates are fair as compared against the national average.

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Find a First Bank Near Me

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

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