First Citrus Bank first started operating in 1999 and is headquartered in Tampa, Florida. First Citrus Bank handles assets of $358 million as well as $292 million in deposits, making it a small bank. First Citrus Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Overall, First Citrus Bank is a great bank that you should seriously consider, with a score of 4.2 out of 5 stars from the SmartAsset experts. First Citrus Bank provides customers with a complete selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, First Citrus Bank offers an option without a maintenance or monthly fee. Banks that offer free checking, in addition to a high interest rate savings account are the best option for returning the most income from your deposits while maintaining convenient access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.16%, First Citrus Bank ranks poorly compared to the national average. First Citrus Bank's one-year CD earns at a rate of 1.50% and the five-year CD earns at a rate of 2.30%, while its highest-yielding money market account has an APY of 0.20%. Given First Citrus Bank's poor savings rate, you should think about opting for higher earning savings accounts with other banks.
How First Citrus Bank's Savings Rates Compare
On average, First Citrus Bank charges its customers extremely low fees in comparison to the average U.S. bank. With no monthly fee, First Citrus Bank is perfect for those who want a basic checking account. First Citrus Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you'll have to find a First Citrus Bank ATM or accept the withdrawal fee.
First Citrus Bank is a brick-and-mortar bank, with five total bank locations in Florida. It also offers access to mobile and web apps for a simple mobile-banking experience. First Citrus Bank gets poor marks from users for its mobile platform. Out of 3 customer reviews on both Apple and Android platforms, the First Citrus Bank mobile app has an overall rating of 3.0 out of 5 (compared to the national average of 3.8). First Citrus Bank's mobile app lets you manage your accounts by monitoring account balances, transferring funds as well as accessing customer service. First Citrus Bank receives a superb consumer satisfaction rating due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
First Citrus Bank is currently a small bank owning $358 million in assets and deposits totaling $292 million. First Citrus Bank's Texas Ratio is 11.16%, signifying that First Citrus Bank is in good financial well-being and improbable to fail. Additionally, First Citrus Bank 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 Citrus Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.16% APY||$300|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.2% APY 0.2% APY||$10000 $15000|
First Citrus Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. First Citrus Bank does not have the best savings rate, which means you should consider other options 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 Citrus Bank's CD rates are fair compared to the average U.S. bank.Back to Overview
Find a First Citrus Bank Near Me
First Citrus Bank has five physical branches across the U.S.Back to Overview