First Financial Bank Review

First Financial Bank Savings

0.25% APY

First Financial Bank offers a range of bank accounts for customers to choose from. With three different savings account options, six checking account options, a money market account and CDs, you can likely find the right type of account for your financial situation, whether you’re a student new to banking or an experienced banking customer. 

The bank started in Hamilton, Ohio in 1863, and has remained close to its roots and the community. Today it has more than 100 branches in Ohio and three other states: Illinois, Indiana and Kentucky.

Products Offered

First Financial Bank Interest Rate Comparison

f1RST® Everyday Savings

If you’re looking for simple savings, you can consider the f1RST® Everyday Savings account. The account doesn’t come with many extra perks, allowing you to focus on saving your money. You will only need $50 to open this account, which is on par with the amount required by other banks. The account also charges a low monthly fee of $5. The fee is automatically waived for the first 90 days after opening. After that, you’ll need to maintain a minimum daily balance of $250 in order to avoid the fee. 

It’s also important to note that, per federal law, savings accounts limit your outgoing transactions to six per statement cycle. This includes transfers and withdrawals. Every transaction over that limit will incur a $5 fee. 

f1RST® Everyday Student Savings

This account is designed to allow those under the age of 18 to start saving money and getting more familiar with banking. First Financial makes this easier for younger customers by having a lower minimum deposit requirement and no monthly fee. The account will convert to a f1RST® Everyday Savings account once the owner turns 18. 

Again, you should avoid making more than six outgoing transactions per statement cycle to avoid the $5 excessive item fee. 

DREAMmaker Savings

First Financial bills this account as one to help you reach certain savings goals like a special event or the holidays. You’ll need at least $50 to open this account, but luckily there is no monthly fee to budget for. 

You will have to pay attention to your outgoing transactions, however, since each excessive transaction will cost more at $12.50 per item. 

Certificate of Deposit Specials

To open these Certificate of Deposit Specials, you’ll need to own a First Financial Bank checking account as well. Despite the high rates on these CDs, they require a substantial minimum deposit of $5,000. This may make it challenging for many customers to open a CD. 

As with all CDs, you’ll need to be careful when setting aside your initial deposit. This is because once you make that deposit, you cannot access it until the account matures. Should you try to make an early withdrawal, you’ll meet a heavy penalty. The penalty for the 12-month account equals 90 days’ interest. The penalty for the 18-month CD equals 180 days’ interest and the 48-month penalty is 180 days’ worth of interest. 

f1RST® Money Market 

As a money market account, the f1RST® Money Market account acts as a hybrid between a checking and savings account. The account will earn interest like a savings account, but you can still access those funds like a checking account. You’ll receive a debit card at account opening which you can use at any First Financial or Allpoint ATM. You’re still limited to six outgoing transactions per statement cycle, however, so monitor your transactions to avoid a $5 excessive withdrawal fee. 

This account works best for those with high account balances. You’ll need to keep at least $10,000 in this account to earn interest and to avoid the $15 monthly fee. Owning the account with a lower balance likely wouldn’t be worth it.

f1RST® Simple Checking Account

This checking account is the most basic. There’s no monthly fee or balance requirement, although you do need at least $50 to open. 

You’ll receive your account debit card at opening. Plus, if you open the account at a First Financial banking center, you’ll receive a free gift. 

f1RST® Choice Checking Account

A slight step up from the f1RST® Simple Checking account, the f1RST® Choice Checking account includes a box of bank selected checks for free. You can also earn a free gift at account opening at a banking center. 

This account does charge a $6 monthly fee. However, you can reduce the fee by $0.20 for each debit card purchase each statement cycle. You can eliminate the fee entirely by making 30 debit card purchases each month. However you cannot exceed a reduction of $6. These debit card purchases do not include ATM transactions. 

f1RST® Premium+ Checking Account

If you want a checking account that works for you, the f1RST® Premium+ Checking account can earn interest depending on your balance. Plus, account owners over the age of 55 can benefit from free standard checks. 

f1RST® Choice Student Checking Account

This account is open to students under the age of 26. This makes it perfect for high school or college students who need an easy way to manage their money, especially with the absence of a monthly fee. 

Once the account owner reaches 26, the account will convert to a f1RST® Choice Checking account.

NOworry Checking Account

If you tend to overdraft your checking accounts, the NOworry Checking account could be the answer. Instead of charging you for overdrafts or overdraft protection, the NOworry Checking account will simply return or decline any checks, debit card or ATM transactions when you don’t have enough funds in the account.

CLEANslate Checking Account

This is a barebones account, designed to help you get back on your financial feet. As with most First Financial accounts, you’ll need at least $50 to open the account. There is a $10 monthly fee you’ll have to remember since there is no way to waive it. Essentially, without any bells or whistles, you’ll have to remain diligent about paying the fee and keeping your account in order. 

Branch Locations

Throughout its history, First Financial Bank has had branches and operations in a number of states. Today, the bank maintains over 100 branches in Ohio, Illinois, Indiana and Kentucky. Branches are open Monday through Friday from 8 a.m. to 8 p.m. and on Saturday from 8 a.m. to 5 p.m. You will also have access to the Allpoint ATM network which provides over 40,000 ATMs throughout the country. If you need to access your account over the phone, you can do so with the bank’s automated services 24/7. 

Financial Statistics & Bank Health Rating  

First Financial Bank currently holds $8.87 billion in assets and $5.97 billion in loans. Customers also have $6.95 billion in deposits with the bank. 

These numbers can help us calculate the bank’s Texas Ratio, an indicator of how risky a bank is. It is calculated by dividing the amount of non-performing assets (unbacked current loans and real estate owned) by the sum of the bank’s tangible equity capital and its loan loss allowances. First Financial’s Texas Ratio is 2.62%, which is considered excellent.