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First Community Bank Review

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First Community Bank Savings
0.06% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 1920, First Community Bank has assets totaling $2 billion along with $2 billion in deposits, which makes the institution a large bank. First Community Bank, whose headquarters are in Bluefield, Virginia, has above-average access to customer service with a live chat feature, which is helpful for those that work during typical customer service hours. 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. On the whole, First Community Bank is a good bank that gets the job done, with a score of 4.1 out of 5 stars from the SmartAsset experts. First Community Bank provides customers with a varied choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, the bank's most basic checking account does not carry a monthly charge. Obtaining a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is the best bet for gaining the most income from your deposits while having easy access to your funds.

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

With a savings rate of 0.06%, First Community Bank ranks poorly compared to other U.S. banks. Its one-year CD earns at a rate of 0.15% and the five-year CD earns at a rate of 0.60%, while its highest-yielding money market account has an APY of 0.15%. Given First Community Bank's noncompetitive savings rate, you should consider looking at the competition to open savings accounts.

How First Community Bank's Savings Rates Compare

First Community Bank Savings 0.06 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, First Community Bank charges its customers extremely low fees in comparison to the average U.S. bank. With no monthly fee, First Community Bank is perfect for those who want a basic banking experience. First Community Bank does not reimburse out-of-network ATM fees, meaning you will be required to locate a First Community Bank ATM or pay the withdrawal fee.

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

SmartAsset Average: 3.7

First Community Bank is a brick-and-mortar bank, with 51 total branches in North Carolina, Tennessee, Virginia and West Virginia. It also offers access to mobile and web apps for straightforward access and banking on the go. It does not provide access to all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 7:00 a.m. to 6:00 p.m. ET; Saturday, and 8:00 a.m. to 12:30 p.m. ET. First Community Bank also offers a live chat feature, a helpful way to reach a representative during the work day. First Community Bank's online and mobile banking platforms receive mediocre marks from users. The First Community Bank mobile app is rated at 3.3 out of 5 (with 220 reviews on Apple and Android) compared to the national average of 3.8. First Community Bank's mobile app allows you to control your funds by monitoring current statements, sending and receiving funds and accessing customer service. First Community Bank gets an exceptional consumer satisfaction rating due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

SmartAsset Average: 4.8

First Community Bank is currently a large bank owning $2 billion in assets and deposits totaling $2 billion. It has a strong Texas Ratio of 6.39%, signifying that the bank is in good financial well-being and improbable to fail. Additionally, First Community 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 Community Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.06% APY $100
Checking Account 0.01% APY $1000
Certificates of Deposit
  • 12 Month: 0.15% APY
  • 24 Month: 0.25% APY
  • 36 Month: 0.40% APY
  • 48 Month: 0.50% APY
  • 60 Month: 0.60% APY
$1000 for all terms
Money Market Account 0.1% APY $10000

First Community Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First Community 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 Community Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a First Community Bank Near Me

First Community Bank has 51 branches across the U.S.

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