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First Bank of Berne Review

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First Bank of Berne Savings
0.01% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


First Bank of Berne was founded in 1891 and has its headquarters in Berne, Indiana. It owns $668 million in assets along with deposits totaling $533 million, which makes it a medium-size bank. First Bank of Berne lacks premium access to support representatives, 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. Overall, First Bank of Berne is a respectable bank that deserves your consideration, with a score of 4.1 out of 5 stars from our team. First Bank of Berne provides customers with the complete slate of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, First Bank of Berne's most basic checking does not have a monthly fee. Locating a bank with no-fee checking as well as a high savings APY is the best option for accruing the most income from your deposits while maintaining convenient 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 0.01%, First Bank of Berne ranks poorly compared to the national average. First Bank of Berne's one-year and five-year term lengths CDs earn at a rate of 0.10% and 0.70%, respectively, while its highest-yielding money market account earns at a rate of 0.01%. Given First Bank of Berne's noncompetitive savings rate, you should consider looking at the competition to open savings accounts.

How First Bank of Berne's Savings Rates Compare

First Bank of Berne Savings 0.01 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, First Bank of Berne charges its customers extremely low fees compared to the average U.S. bank. With no monthly fee, First Bank of Berne's checking account is perfect for people who need a hassle-free checking account. First Bank of Berne unfortunately does not refund out-of-network ATM charges, which means you'll be required to search for a First Bank of Berne ATM or pay the ATM charge.

Monthly Fee $0 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 of Berne is a brick-and-mortar bank, with nine total bank locations in Indiana and Ohio. It also offers access to mobile and web apps for easy access and banking 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 Thursday, 8:00 a.m. to 5:00 p.m. ET; Friday, 8:00 a.m. to 6:00 p.m. ET; Saturday, and 8:00 a.m. to 12:00 p.m. ET. First Bank of Berne's online and mobile banking services receive moderate marks from customers. The First Bank of Berne mobile app rates a 3.9 out of 5 (out of 31 customer reviews on Apple and Android) compared to the national average of 3.8. You can use First Bank of Berne's mobile app to manage your accounts by monitoring current statements, transferring funds and accessing customer service. First Bank of Berne gets a superb consumer satisfaction score due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.9/5
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 of Berne ranks as a medium-size bank with assets totaling $668 million as well as $533 million in deposits. First Bank of Berne's Texas Ratio is 4.98%, suggesting that the bank is in superb financial well-being and improbable to fail. Additionally, First Bank of Berne is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 of Berne to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.01% APY $1
Checking Account 0.01% APY $1
Certificates of Deposit
  • 12 Month: 0.10% APY
  • 24 Month: 0.20% APY
  • 36 Month: 0.30% APY
  • 48 Month: 0.50% APY
  • 60 Month: 0.70% APY
$1000 for all terms
Money Market Account 0.01% APY $25000

First Bank of Berne 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 of Berne 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 of Berne's CD rates are fair compared to the national average.

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Find a First Bank of Berne Near Me

First Bank of Berne has nine physical locations across the U.S.

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