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First Chatham Bank Review

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First Chatham Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


First Chatham Bank was founded in 2002 and its headquarters are located in Savannah, Georgia. First Chatham Bank owns $364 million in assets and $332 million in deposits, classifying it as a small bank. First Chatham Bank 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 offerings. SmartAsset has rated First Chatham Bank 3.6 stars out of 5, indicating that it is a decent choice, but with better options out there. First Chatham Bank has a variety of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First Chatham Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, First Chatham Bank's ordinary checking account does not have a monthly fee. Banks that offer free checking as well as a high savings APY are the best bet for gaining the highest income from your deposits while having easy access to your money.

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 Chatham Bank features a savings rate of 0.20%, which is fair in comparison to the average U.S. bank. First Chatham Bank's one-year CD earns at a rate of 1.49% and the five-year CD has a rate of 2.02%, while its highest-yielding money market account has an APY of 0.10%. Given First Chatham Bank's below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How First Chatham Bank's Savings Rates Compare

First Chatham Bank Savings 0.20 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, First Chatham Bank charges its customers low fees in comparison to other U.S. banks. First Chatham Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. Additionally, First Chatham Bank has an overdraft fee of $35.00, which is on par with the national average overdraft fee. First Chatham Bank unfortunately doesn't reimburse out-of-network ATM charges, which means you will need to find a First Chatham Bank ATM or pay the cost of withdrawal.

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

SmartAsset Average: 3.7

First Chatham Bank is a brick-and-mortar bank, with eight total branches in Georgia. It also offers access to mobile and web apps for an easy mobile-banking experience. First Chatham Bank gets fair reviews from customers for its online presence. With 46 customer reviews across iOS and Android platforms, the First Chatham Bank mobile app rates a 3.8 out of 5 (compared to the national average of 3.8). You can utilize First Chatham Bank's mobile app to control your accounts by checking account balances, transferring money and accessing support representatives. First Chatham Bank gets a superb consumer satisfaction rating due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

First Chatham Bank is currently a small bank and owns $364 million in assets and deposits totaling $332 million. It has a fair Texas Ratio of 71.23%, indicating a moderate chance of failure. Additionally, First Chatham Bank 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 Chatham Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $1
Certificates of Deposit
  • 12 Month: 1.49% APY
  • 24 Month: 1.69% APY
  • 36 Month: 1.81% APY
  • 48 Month: 1.93% APY
  • 60 Month: 2.02% APY
$1000 for all terms
Money Market Account 0.05% APY $10000

First Chatham Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. First Chatham Bank does not have the best savings rate, which means you should think about taking a look 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 Chatham Bank's CD rates are fair compared to the average U.S. bank.

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Find a First Chatham Bank Near Me

First Chatham Bank has eight locations across the U.S.

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