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First Bank of Berne Review

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

Overview

Founded in 1891, First Bank of Berne has $668 million in assets and deposits totaling $533 million, making the institution a medium-size bank. First Bank of Berne, whose headquarters are in Berne, Indiana, 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. On the whole, First Bank of Berne is a respectable bank that deserves your consideration, with a rating of 4.1 stars out of 5 from the SmartAsset experts. First Bank of Berne has a mixture of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First Bank of Berne has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, First Bank of Berne offers an option without a monthly fee. Obtaining a checking account with no monthly fee as well as a savings account with a high APY at the same bank is your best bet for gaining the most income on your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

First Bank of Berne features a savings rate of 0.01%, which is poor compared to other U.S. banks. 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 an APY of 0.01%. Given First Bank of Berne's noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

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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Fees

5.0
SmartAsset Average: 4.4

First Bank of Berne charges customers extremely low fees in comparison to other U.S. banks. First Bank of Berne's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. First Bank of Berne doesn't refund out-of-network ATM fees, which means you'll need to find 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

3.9
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 a straightforward mobile-banking experience. It does not offer all-day customer service with 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 receives moderate reviews from customers for its mobile platform. The First Bank of Berne mobile app has been given a 3.9 out of 5 (out of 31 reviews on iOS and Android) compared to the national average of 3.8. You can access First Bank of Berne's mobile app to control your accounts by looking at account balances, sending and receiving money and reaching support representatives. First Bank of Berne gets an excellent consumer satisfaction score due to relatively few consumer complaints reported 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

4.8
SmartAsset Average: 4.8

First Bank of Berne is a medium-size bank and manages $668 million in assets as well as $533 million in deposits. Its Texas Ratio is 4.98%, indicating that First Bank of Berne is in terrific financial shape and far from failure. 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

4.98%
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 Accounts 0.01% APY 0.01% APY $10000 $15000

First Bank of Berne has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. First Bank of Berne does not have the best savings rate, which means you should consider other options 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 in comparison to other U.S. banks.

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Find a First Bank of Berne Near Me

First Bank of Berne has nine physical branches in the U.S.

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