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First Citizens National Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
First Citizens National Bank Savings
0.15% APY

Overview

Our Rating: 3.5/5 How we calculated this rating

First Citizens National Bank first started operating in 1889 and has its headquarters in Dyersburg, Tennessee. It owns $2 billion in assets as well as $1 billion in deposits, ranking it as a large bank. First Citizens National Bank lacks premium access to support representatives, 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. Overall, First Citizens National Bank is a decent choice, but with better options out there at a score of 3.5 stars out of 5 from the SmartAsset team. 

First Citizens National Bank has a complete choice of banking products, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. First Citizens National Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, First Citizens National Bank's standard checking account does not have a monthly fee. Why keep checking and savings accounts with one bank? Fast transferring between the two accounts means you can still get higher interest rates in your savings account but still use your funds from your checking.

Service Quality

First Citizens National Bank is a brick-and-mortar bank, with 24 total bank locations in Tennessee. It also offers access to mobile and web apps for an easy mobile-banking experience.  

First Citizens National Bank receives poor marks from customers for its mobile app: the First Citizens National Bank mobile app scored a 2.6 out of 5 (with 52 reviews on iOS and Android) compared to the national average of 3.8. You can access First Citizens National Bank's app to manage your bank accounts by monitoring monthly statements, sending and receiving funds and reaching support representatives. However, First Citizens National Bank receives an average consumer satisfaction rating because of a large number of complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.15% APY $1 Compare Offers
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 0.65% APY
  • 36 Month: 0.75% APY
  • 48 Month: 0.75% APY
  • 60 Month: 1.10% APY
$500 for all tiers Compare Offers
Money Market Accounts
  • 10K tier: 0.10% APY
  • 25K tier: 0.20% APY
  • $7,500
  • $25,000
Compare Offers
Checking Accounts 0.10% APY $1 Compare Offers

First Citizens National Bank has several deposit products which include savings accounts, checking accounts and CDs, giving you many options to manage your money. It does not have the best savings rate, which means you should consider taking a look elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. First Citizens National Bank's CD rates are fair in comparison to the average U.S. bank.

Rates

With a savings rate of 0.15%, First Citizens National Bank ranks below the mean compared to the average U.S. bank. Its one-year and five-year term lengths CD's earn at a rate of 0.75% and 1.10%, respectively, while its highest-yielding money market account earns at a rate of 0.20%. Given its poor savings rate, you should contemplate opting for higher earning savings accounts with other banks.

Compare First Citizens National Bank to Other Competitive Offers

Fees

First Citizens National Bank charges its customers high fees in comparison to the average U.S. bank. With no monthly fee, First Citizens National Bank's checking account is perfect for those who need an easy banking experience. Additionally, First Citizens National Bank has an overdraft fee of $100, which is meaningfully higher than the national average. 

Financial Health

First Citizens National Bank ranks as a large bank with $2 billion in assets and $1 billion in deposits. First Citizens National Bank's Texas Ratio is 3.60%, suggesting that First Citizens National Bank is in terrific financial shape and extremely unlikely to fail. Additionally, First Citizens National Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a First Citizens National Bank Near Me

First Citizens National Bank has 24 physical locations in the U.S.

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