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First Community Bank of Central Alabama Review

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First Community Bank of Central Alabama Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

First Community Bank of Central Alabama was founded in 2001 and has its headquarters in Wetumpka, Alabama. It owns $362 million in assets and $331 million in deposits, which makes it a small bank. First Community Bank of Central Alabama lacks premium access to customer service, 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. On the whole, First Community Bank of Central Alabama is a good bank that deserves your consideration, with a score of 4.1 out of 5 stars from the SmartAsset team. First Community Bank of Central Alabama offers numerous product offerings, including savings accounts, checking accounts, money market accounts, mortgage products and credit cards. First Community Bank of Central Alabama has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, the bank's most basic checking account does not carry a monthly maintenance charge. Finding a checking account with no monthly fee and a savings account with a high APY at the same bank is the best option for returning the most income on your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.1/5
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 0.10%, First Community Bank of Central Alabama ranks poorly compared to the average U.S. bank. Its one-year CD has a rate of 0.70% and the five-year CD earns at a rate of 1.50%, while its highest-yielding money market account has an APY of 0.40%. Given First Community Bank of Central Alabama's poor savings rate, you should think about looking elsewhere to open savings accounts.

How First Community Bank of Central Alabama's Savings Rates Compare

First Community Bank of Central Alabama Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

First Community Bank of Central Alabama generally has extremely low fees compared to the average U.S. bank. First Community Bank of Central Alabama's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. First Community Bank of Central Alabama unfortunately does not refund out-of-network ATM charges, meaning you'll have to find a First Community Bank of Central Alabama ATM or accept the 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

3.6
SmartAsset Average: 3.7

First Community Bank of Central Alabama is a brick-and-mortar bank, with seven total bank locations in Alabama. With mobile and web apps, First Community Bank of Central Alabama makes account access convenient, even on the go. First Community Bank of Central Alabama's online and mobile banking platforms get mediocre feedback from users. With 13 customer reviews on both iOS and Android platforms, the First Community Bank of Central Alabama mobile app rates a 3.4 out of 5 (compared to the national average of 3.8). First Community Bank of Central Alabama's mobile app lets you manage your accounts by reviewing current statements, transferring money as well as accessing customer service. First Community Bank of Central Alabama receives a superb consumer satisfaction rating due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

First Community Bank of Central Alabama is currently a small bank and manages $362 million in assets and deposits totaling $331 million. Its Texas Ratio is 3.47%, indicating that the bank is in outstanding financial condition and improbable to fail. Additionally, First Community Bank of Central Alabama is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.47%
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 of Central Alabama to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.70% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.20% APY
  • 48 Month: 1.30% APY
  • 60 Month: 1.50% APY
$1000 for all terms
Money Market Accounts 0.25% APY 0.4% APY $10000 $15000

First Community Bank of Central Alabama has several deposit products like savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. First Community Bank of Central Alabama does not have the best savings rate, which means you should think about 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 Community Bank of Central Alabama's CD rates are fair in comparison to the national average.

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Find a First Community Bank of Central Alabama Near Me

First Community Bank of Central Alabama has seven branches across the U.S.

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