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First Bank Financial Centre Review

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

Overview

First Bank Financial Centre first started operating in 1859 with headquarters in Oconomowoc, Wisconsin. It has assets of $1 billion along with $844 million in deposits, making it a medium-size bank. First Bank Financial Centre has above-average customer service access with a live chat feature, 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 apps. SmartAsset has rated the bank 3.7 stars out of 5, indicating that First Bank Financial Centre is a decent choice, but with better options out there. First Bank Financial Centre offers a full array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking account has a monthly fee of $6.00, making it a rather costly bank for checking. Institutions that offer no-fee checking as well as a high savings APY are the best bet for returning the highest income from your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.7/5
National Average: 4.1

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

Rates

3.5
SmartAsset Average: 3.5

First Bank Financial Centre features a savings rate of 0.05%, which is poor in comparison to the national average. First Bank Financial Centre's one-year CD has a rate of 1.20% and the five-year CD earns at a rate of 2.00%, while its highest-yielding money market account has a rate of 0.15%. Given its poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How First Bank Financial Centre's Savings Rates Compare

First Bank Financial Centre Savings 0.05 National Average 0.26 Compare Offers
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Fees

2.6
SmartAsset Average: 4.4

On average, First Bank Financial Centre charges its customers high fees compared to the national average. At $6.00 per month, First Bank Financial Centre is less than great for people who want a simple banking experience. First Bank Financial Centre unfortunately doesn't reimburse out-of-network ATM charges, meaning you'll need to search for a First Bank Financial Centre ATM or eat the ATM charge.

Monthly Fee $6.00 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

4.2
SmartAsset Average: 3.7

First Bank Financial Centre is a brick-and-mortar bank, with 17 total bank locations in Wisconsin. With mobile and web apps, First Bank Financial Centre makes account access convenient, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 8:30 a.m. to 6:30 p.m. CT; Saturday, and 8:30 a.m. to 12:00 p.m. CT. First Bank Financial Centre also offers a live chat feature, a helpful way to reach a representative during the work day. First Bank Financial Centre's online and mobile banking services get reasonably high scores from users. The First Bank Financial Centre mobile app has an overall rating of 4.0 out of 5 (with 47 reviews on Apple and Android) compared to the national average of 3.8. First Bank Financial Centre's mobile app allows you to control your finances by looking at account balances, transferring money as well as accessing customer service. First Bank Financial Centre receives a superb consumer satisfaction score based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

4.6
SmartAsset Average: 4.8

First Bank Financial Centre ranks as a medium-size bank and has $1 billion in assets and deposits totaling $844 million. Its Texas Ratio is 9.37%, indicating a small opportunity of failure. Additionally, First Bank Financial Centre is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

9.37%
High Risk 75% 50% 20% 10% Low Risk

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 Financial Centre to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $50
Checking Account 0.03% APY $2500
Certificates of Deposit
  • 12 Month: 1.20% APY
  • 24 Month: 1.40% APY
  • 36 Month: 1.60% APY
  • 48 Month: 1.80% APY
  • 60 Month: 2.00% APY
$1000 for all terms
Money Market Account 0.1% APY $2500

First Bank Financial Centre has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First Bank Financial Centre does not have the best savings rate, which means you should think about 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 Financial Centre's CD rates are fair compared to the average U.S. bank.

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Find a First Bank Financial Centre Near Me

First Bank Financial Centre has 17 locations in the U.S.

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