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First Community Bank Review

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First Community Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1995, First Community Bank has assets totaling $1 billion along with deposits totaling $893 million, classifying it as a medium-size bank. First Community Bank, whose headquarters are in Lexington, South Carolina, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. SmartAsset has rated First Community Bank 3.9 stars out of 5, suggesting it is a good bank that warrants your consideration. First Community Bank offers the complete slate of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, First Community Bank offers an option without a monthly fee. Locating an institution with no-fee checking and a high interest rate savings account is the best option for gaining the most income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.05%, First Community Bank ranks poorly in comparison to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 0.40% and 1.20%, respectively, while its highest-yielding money market account has an APY of 0.50%. Given its poor savings rate, you should consider choosing another bank to earn more on your deposits.

How First Community Bank's Savings Rates Compare

First Community Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

First Community Bank charges its customers extremely low fees as compared against the national average. First Community Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a hassle-free account. First Community Bank does not reimburse out-of-network ATM charges, meaning you'll need to locate a First Community Bank ATM or eat 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

2.8
SmartAsset Average: 3.7

First Community Bank is a brick-and-mortar bank, with 20 total bank locations in Georgia and South Carolina. With mobile and web apps, First Community Bank makes account access straightforward, even on the go. First Community Bank's online and mobile banking services receive poor feedback from customers. Out of 25 customer reviews on both iOS and Android platforms, the First Community Bank mobile app has an overall rating of 1.9 out of 5 (compared to the national average of 3.8). You can access First Community Bank's mobile app to manage your finances by monitoring current statements, sending and receiving money and accessing support representatives. First Community Bank receives a superb consumer satisfaction rating based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 1.9/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

First Community Bank is currently a medium-size bank owning assets totaling $1 billion and deposits totaling $893 million. First Community Bank has an excellent Texas Ratio of 4.38%, suggesting that the bank is in terrific financial shape and unlikely 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

4.38%
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 0.05% APY $100
Checking Account 0.02% APY $500
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.75% APY
  • 48 Month: 0.75% APY
  • 60 Month: 1.20% APY
$500 for all terms
Money Market Accounts 0.25% APY 0.5% APY $10000 $15000

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 think about 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 other U.S. banks.

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Find a First Community Bank Near Me

First Community Bank has 20 locations in the U.S.

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