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First Bankers Trust Company Review

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First Bankers Trust Company Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1946, First Bankers Trust Company has $933 million in assets and deposits totaling $763 million, ranking it as a medium-size bank. First Bankers Trust Company, whose headquarters are in Quincy, Illinois, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Overall, First Bankers Trust Company is a respectable bank that gets the job done, with a score of 4.1 out of 5 stars from the SmartAsset team. First Bankers Trust Company has a variety of product offerings, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. First Bankers Trust Company has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, First Bankers Trust Company offers an option without a maintenance or monthly fee. Banks that offer free checking and a high savings APY are the best bet for returning the highest income on your deposits while maintaining easy 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 Bankers Trust Company features a savings rate of 0.05%, which is fair compared to the national average. First Bankers Trust Company's one-year and five-year term lengths CDs earn at a rate of 0.05% and 1.10%, respectively, while its highest-yielding money market account has a rate of 0.05%. Given its poor savings rate, you should think about choosing another bank to earn more on your deposits.

How First Bankers Trust Company's Savings Rates Compare

First Bankers Trust Company Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

First Bankers Trust Company charges its customers extremely low fees compared to the national average. First Bankers Trust Company's checking account has no monthly fee, making it excellent for anyone looking for a simple account. Additionally, at $30.00, First Bankers Trust Company has a considerably lower overdraft fee compared to the average overdraft fee charged by U.S. banks. First Bankers Trust Company unfortunately does not reimburse out-of-network ATM charges, which means you'll have to search for a First Bankers Trust Company ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

4.0
SmartAsset Average: 3.7

First Bankers Trust Company is a brick-and-mortar bank, with 10 total bank locations in Illinois. With mobile and web apps, First Bankers Trust Company makes account access convenient, even on the go. First Bankers Trust Company gets moderately high praise from users for its mobile app. The First Bankers Trust Company mobile app scored a 4.1 out of 5 (with 47 customer reviews on Apple and Android) compared to the national average of 3.8. You can use First Bankers Trust Company's mobile app to control your funds by looking at account balances, sending and receiving money and accessing support representatives. First Bankers Trust Company receives a superb consumer satisfaction rating based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

First Bankers Trust Company is a medium-size bank with $933 million in assets as well as $763 million in deposits. It has a strong Texas Ratio of 8.68%, suggesting that First Bankers Trust Company is in fine financial well-being and unlikely to fail. Additionally, First Bankers Trust Company is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

8.68%
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 Bankers Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.05% APY
  • 24 Month: 0.20% APY
  • 36 Month: 0.80% APY
  • 48 Month: 0.90% APY
  • 60 Month: 1.10% APY
$1000 for all terms
Money Market Accounts 0.05% APY 0.05% APY $10000 $15000

First Bankers Trust Company has several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. First Bankers Trust Company 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 Bankers Trust Company's CD rates are fair compared to the average U.S. bank.

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Find a First Bankers Trust Company Near Me

First Bankers Trust Company has 10 locations in the U.S.

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