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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

Overview

Established in 1934, First Bank & Trust has assets totaling $930 million along with deposits totaling $822 million, making the institution a medium-size bank. First Bank & Trust, whose headquarters are in Lubbock, Texas, 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 access to service representatives at a physical location, in addition to its online and mobile apps. With a score of 4.2 stars out of 5, First Bank & Trust should be solidly in contention for your choice of bank. First Bank & Trust has a diverse array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First Bank & Trust has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, First Bank & Trust's standard checking account does not carry a monthly maintenance fee. Banks that offer free checking and a high savings APY are your best option for returning the most income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

4.5
SmartAsset Average: 3.5

First Bank & Trust has a savings rate of 0.50%, which is fair compared to the national average. Its one-year and five-year term lengths CDs earn at a rate of 1.96% and 1.63%, respectively, while its highest-yielding money market account earns at a rate of 0.75%. Given its poor savings rate, you should think about taking a look at other banks for savings accounts.

How First Bank & Trust's Savings Rates Compare

First Bank & Trust Savings 0.50 National Average 0.26 Compare Offers
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Fees

4.1
SmartAsset Average: 4.4

First Bank & Trust has generally average fees compared to other U.S. banks. With no monthly fee, First Bank & Trust is perfect for those who want a basic banking experience. For those who routinely visit the ATM, it is less than the best option because it has an out-of-network ATM fee of $2.50, which is less than great compared to the national average. Additionally, at $35.00, First Bank & Trust has a lower overdraft fee compared to the national average. First Bank & Trust does not refund out-of-network ATM charges, which means you will have to search for a First Bank & Trust ATM or accept the fee.

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

3.3
SmartAsset Average: 3.7

First Bank & Trust is a brick-and-mortar bank, with nine total branches in Texas. With mobile and web apps, First Bank & Trust makes mobile banking straightforward, even on the go. First Bank & Trust's online and mobile banking services receive mediocre feedback from customers. With 43 customer reviews across iOS and Android platforms, the First Bank & Trust mobile app rates a 2.7 out of 5 (compared to the national average of 3.8). First Bank & Trust's mobile app lets you manage your funds by reviewing account balances, transferring money and reaching customer service. First Bank & Trust gets an exceptional consumer satisfaction rating due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored 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

4.7
SmartAsset Average: 4.8

First Bank & Trust is a medium-size bank and handles assets totaling $930 million as well as deposits totaling $822 million. First Bank & Trust's Texas Ratio is 6.65%, signifying that the bank is in fine financial well-being and improbable to fail. 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

6.65%
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: 1.96% APY
  • 24 Month: 2.17% APY
  • 36 Month: 1.63% APY
  • 48 Month: 1.63% APY
  • 60 Month: 1.63% APY
$1000 for all terms
Money Market Accounts 0.5% APY 0.75% APY $10000 $15000

First Bank & Trust 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 & Trust 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 & Trust's CD rates are fair compared to the average U.S. bank.

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Find a First Bank & Trust Near Me

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

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