Founded in 2000, First Commercial Bank has assets totaling $394 million and deposits totaling $323 million, classifying it as a small bank. First Commercial Bank, whose headquarters are in Jackson, Mississippi, 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 apps. With a score of 4.1 stars out of 5, First Commercial Bank should be solidly in contention for your choice of bank. First Commercial Bank provides customers with a selection of banking products, which include checking accounts, money market accounts and CDs. First Commercial Bank has a fair savings rate; other popular banks have higher rates. The bank's standard checking account carries a monthly fee of $8.00, which places it at the higher end of monthly fees. Institutions that offer no-fee checking, in addition to a high interest rate savings account are the best option for returning the highest income on your deposits while maintaining convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Its one-year CD has a rate of 2.32% and the five-year CD has a rate of 2.93%, while its highest-yielding money market account has an APY of 0.10%.
How First Commercial Bank's Savings Rates Compare
First Commercial Bank has typically high fees in comparison to other U.S. banks. First Commercial Bank's checking account has a monthly fee of $8.00, which makes it fair for anyone looking for a hassle-free account. First Commercial Bank does not reimburse out-of-network ATM charges, meaning you will have to search for a First Commercial Bank ATM or pay the withdrawal fee.
First Commercial Bank is a brick-and-mortar bank, with four total bank locations in Mississippi. It also offers access to mobile and web apps for an easy mobile-banking experience. First Commercial Bank gets high praise from users for its mobile app. Out of 7 ratings across both Apple and Android platforms, the First Commercial Bank mobile app rates a 4.7 out of 5 (compared to the national average of 3.8). You can access First Commercial Bank's mobile app to control your finances by reviewing monthly statements, sending and receiving money and accessing support representatives. First Commercial Bank gets an outstanding consumer satisfaction score due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
First Commercial Bank ranks as a small bank with assets totaling $394 million and $323 million in deposits. First Commercial Bank's Texas Ratio is 1.72%, suggesting a negligible probability of failure. Additionally, First Commercial 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 Commercial Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Checking Account||0.05% APY||$1|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Account||0.1% APY||$2500|
First Commercial Bank offers several deposit products including checking accounts, money market accounts and CDs that provide you with many options to manage your money. First Commercial Bank does not have the best savings rate, which means you should consider 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 Commercial Bank's CD rates are fair as compared against the national average.Back to Overview
Find a First Commercial Bank Near Me
First Commercial Bank has four physical locations in the U.S.Back to Overview