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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


First Community Bank was founded in 1920 with its headquarters in Bluefield, Virginia. First Community Bank manages assets of $2 billion and deposits totaling $2 billion, which makes it a large bank. First Community Bank has above-average customer service access with a live chat feature, great for getting help during the work week. It is a conventional 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 rating of 4.1 stars out of 5 from the SmartAsset team. First Community Bank provides customers with a complete array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First Community Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, First Community Bank's most basic checking does not carry a monthly maintenance charge. Banks that offer no-fee checking as well as a high savings APY are your best bet for accruing the highest income on your deposits while maintaining convenient 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

First Community Bank has a savings rate of 0.06%, which is poor compared to other U.S. banks. First Community Bank's one-year CD has a rate of 0.15% and the five-year CD has a rate of 0.60%, while its highest-yielding money market account earns at an APY of 0.04%. Given First Community Bank's below average savings rate, you should consider taking a look at other banks for 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 compared to the national average. With no monthly fee, First Community Bank is perfect for people who want a simple banking experience. First Community Bank unfortunately doesn't refund out-of-network ATM fees, meaning you will be required to find a First Community 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 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 bank locations in North Carolina, Tennessee, Virginia and West Virginia. It also offers access to mobile and web apps for an easy mobile-banking experience. 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. Additionally, First Community Bank customers can access live chat for their banking questions or needs, which may provide helpful service without getting on the phone. First Community Bank receives poor marks from customers for its online presence. The First Community Bank mobile app scored a 3.3 out of 5 (out of 220 customer reviews on iOS and Android) compared to the national average of 3.8. You can utilize First Community Bank's app to control your funds by looking at account balances, sending and receiving money as well as accessing support representatives. First Community Bank receives an excellent consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 a large bank and manages $2 billion in assets as well as deposits totaling $2 billion. First Community Bank has a strong Texas Ratio of 6.39%, denoting that the bank is in good financial condition and far from failure. 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 0.01% APY $10000

First Community 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 Community Bank does not have the best savings rate, which means you should think about looking 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 compared to the average U.S. bank.

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Find a First Community Bank Near Me

First Community Bank has 51 physical branches in the U.S.

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