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First Bank & Trust Review

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First Bank & Trust Savings
0.50% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


First Bank & Trust first started operating in 1934 and is headquartered in Lubbock, Texas. It owns assets of $930 million as well as $822 million in deposits, making it a medium-size bank. First Bank & Trust lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. SmartAsset has rated First Bank & Trust 4.2 out of 5 stars, which means it is a solid contender in your bank search. First Bank & Trust offers a varied choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First Bank & Trust has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, the bank's most basic checking does not have a monthly maintenance fee. Locating a bank with no-fee checking and a high interest rate savings account is your best option for returning the highest income on your deposits while having easy access to your funds.

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 & Trust features a savings rate of 0.50%, which is poor as compared against the national average. First Bank & Trust's one-year CD earns at a rate of 1.50% and the five-year CD earns at a rate of 1.40%, while its highest-yielding money market account has a rate of 0.75%. Given its below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How First Bank & Trust's Savings Rates Compare

First Bank & Trust Savings 0.50 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

First Bank & Trust has generally average fees compared to other U.S. banks. With no monthly fee, First Bank & Trust's checking account is ideal for those who need a hassle-free checking account. For those who will need cash in a pinch, First Bank & Trust is less than ideal because it charges an out-of-network ATM fee of $2.50, which is not ideal in comparison to other U.S. banks. Also, at $35.00, First Bank & Trust's overdraft fee is lower than that of other U.S. banks. First Bank & Trust doesn't reimburse out-of-network ATM charges, which means you will need to find a First Bank & Trust ATM or pay the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.50 National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

First Bank & Trust is a brick-and-mortar bank, with nine total bank locations in Texas. It also offers access to mobile and web apps for an easy mobile-banking experience. First Bank & Trust gets inferior marks from users for its mobile app. The First Bank & Trust mobile app has an overall rating of 2.7 out of 5 (out of 43 ratings on Apple and Android) compared to the national average of 3.8. First Bank & Trust's mobile app lets you control your bank accounts by checking monthly statements, transferring money and accessing customer service. First Bank & Trust gets a superb consumer satisfaction rating due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 2.7/5
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 & Trust is currently a medium-size bank with $930 million in assets and deposits totaling $822 million. Its Texas Ratio is 6.65%, indicating that First Bank & Trust is in fine financial well-being and far from failure. Additionally, First Bank & Trust 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 & Trust to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.5% APY $100
Checking Account 0.2% APY $5000
Certificates of Deposit
  • 12 Month: 1.50% APY
  • 24 Month: 1.90% APY
  • 36 Month: 1.20% APY
  • 48 Month: 1.30% APY
  • 60 Month: 1.40% APY
$1000 for all terms
Money Market Account 0.5% APY $10000

First Bank & Trust 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 & Trust does not have the best savings rate, which means you should think about 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 & Trust's CD rates are fair compared to the national average.

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Find a First Bank & Trust Near Me

First Bank & Trust has nine physical branches in the U.S.

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