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First Federal Community Bank Review

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First Federal Community Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

First Federal Community Bank first started operating in 1922 with its headquarters in Paris, Texas. First Federal Community Bank has assets of $401 million and $337 million in deposits, classifying it as 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 access to service representatives at a physical location, in addition to its online and mobile apps. SmartAsset has rated First Federal Community Bank 4.4 stars out of 5, indicating that it is a solid contender in your bank search. First Federal Community Bank has the complete selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. First Federal Community Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's most basic checking does not have a monthly fee. Locating an institution with no-fee checking as well as a high savings APY is your best bet for gaining the most income on your deposits while having easy 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 features a savings rate of 0.25%, which is poor in comparison to the national average. First Federal Community Bank's one-year CD earns at a rate of 1.61% and the five-year CD earns at a rate of 3.03%, while its highest-yielding money market account earns at a rate of 0.55%. Given First Federal Community Bank's poor 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 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

First Federal Community Bank has typically extremely low fees as compared against the national average. With no monthly fee, First Federal Community Bank's checking account is ideal for people who want an easy banking experience. First Federal Community Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you'll have to search for a First Federal Community Bank ATM or pay the ATM charge.

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 branches in Texas. With mobile and web apps, First Federal Community Bank makes account access convenient, even on the go. First Federal Community Bank receives relatively high marks from customers for its online presence. Out of 26 ratings on Apple 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 utilize First Federal Community Bank's app to control your accounts by reviewing monthly statements, transferring funds as well as reaching customer service. First Federal Community Bank receives an excellent consumer satisfaction score based on relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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 is a small bank and handles assets totaling $401 million as well as $337 million in deposits. Its Texas Ratio is 7.48%, signifying a small possibility of failure. 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 0.25% APY $100
Checking Account 0.25% APY $100
Certificates of Deposit
  • 12 Month: 1.61% APY
  • 24 Month: 1.92% APY
  • 36 Month: 2.52% APY
  • 48 Month: 2.78% APY
  • 60 Month: 3.03% APY
$1000 for all terms
Money Market Account 0.4% APY $10000

First Federal Community Bank offers 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 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 Federal Community Bank's CD rates are fair compared to the average U.S. bank.

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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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