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.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
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 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.
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.
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
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.Back to Overview
Compare First Bank & Trust to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.5% APY||$100|
|Checking Account||0.2% APY||$5000|
|Certificates of Deposit|| ||$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.Back to Overview
Find a First Bank & Trust Near Me
First Bank & Trust has nine physical branches in the U.S.Back to Overview