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First Federal Community Bank Review

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First Federal Community Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

First Federal Community Bank was founded in 1922 with headquarters in Paris, Texas. It handles assets of $401 million as well as $337 million in deposits, which makes it a small bank. First Federal Community Bank lacks premium access to customer service, 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. We gave the bank a 4.4 out of 5 stars, which means First Federal Community Bank is a solid contender in your bank search. First Federal Community Bank provides customers with a full choice of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, First Federal Community Bank's standard checking account does not carry a monthly charge. Locating a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is your best option for getting the most income on your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

3.8
SmartAsset Average: 3.5

First Federal Community Bank has a savings rate of 0.20%, which is poor in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 1.31% and 3.03%, respectively, while its highest-yielding money market account earns at an APY of 0.45%. Given its below average savings rate, you should consider other options to earn more on your deposits.

How First Federal Community Bank's Savings Rates Compare

First Federal Community Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, First Federal Community Bank charges customers extremely low fees as compared against the national average. First Federal Community Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. First Federal Community Bank doesn't reimburse out-of-network ATM fees, meaning you'll have to find a First Federal Community Bank ATM or accept 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

4.1
SmartAsset Average: 3.7

First Federal Community Bank is a brick-and-mortar bank, with four total bank locations in Texas. It also offers access to mobile and web apps for simple access and banking on the go. First Federal Community Bank receives moderately high marks from customers for its mobile app. With 26 ratings on both iOS and Android platforms, the First Federal Community Bank mobile app is scored at 4.2 out of 5 (compared to the national average of 3.8). You can use First Federal Community Bank's app to control your finances by monitoring account balances, transferring money as well as accessing customer service. First Federal Community Bank receives an outstanding consumer satisfaction score 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 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

First Federal Community Bank ranks as a small bank with assets totaling $401 million and deposits totaling $337 million. First Federal Community Bank's Texas Ratio is 7.48%, denoting that First Federal Community Bank is in fine financial well-being and improbable to fail. Additionally, First Federal 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

7.48%
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 Federal Community Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $100
Checking Account 0.2% APY $100
Certificates of Deposit
  • 12 Month: 1.31% APY
  • 24 Month: 1.81% APY
  • 36 Month: 2.52% APY
  • 48 Month: 2.78% APY
  • 60 Month: 3.03% APY
$1000 for all terms
Money Market Account 0.3% APY $10000

First Federal Community Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First Federal 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 Federal Community Bank's CD rates are fair compared to other U.S. banks.

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Find a First Federal Community Bank Near Me

First Federal Community Bank has four branches in the U.S.

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