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First Financial Bank (IN) Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
First Financial Bank Savings
0.06% APY

Overview

Our Rating: 3.8/5 How we calculated this rating

Established in 1863, First Financial Bank has $3 billion in assets as well as deposits totaling $2 billion, making it a large bank. First Financial Bank, whose headquarters are in Terre Haute, Indiana, lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Overall, First Financial Bank is a decent choice, but with better options out there at a rating of 3.8 stars out of 5 from the SmartAsset team. 

First Financial Bank provides customers with the complete selection of banking products, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. First Financial Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, First Financial Bank offers an option without a maintenance or monthly fee. Why use checking and savings accounts with the same bank? Fast transferring of funds between both accounts translates to better interest rates in your savings account with the flexibility of spending from your checking.

Service Quality

First Financial Bank is a brick-and-mortar bank, with 65 total branches in Illinois and Indiana. With mobile and web apps, First Financial Bank makes mobile banking straightforward, even on the go.  

First Financial Bank's online and mobile banking platforms receive low marks from users: out of 690 customer reviews across iOS and Android platforms, the First Financial Bank mobile app has an overall rating of 2.7 out of 5 (compared to the national average of 3.8). First Financial Bank's mobile app allows you to control your finances by reviewing account balances, transferring money and reaching support representatives. First Financial Bank gets an exceptional consumer satisfaction rating based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.06% APY $50 Compare Offers
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.50% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.25% APY
  • 60 Month: 1.50% APY
$1,000 for all tiers Compare Offers
Money Market Accounts
  • 10K tier: 0.08% APY
  • 25K tier: 0.10% APY
  • $10,000
  • $25,000
Compare Offers
Checking Accounts 0.06% APY $2,000 Compare Offers

First Financial Bank has several deposit products which include savings accounts, checking accounts and CDs, providing you with many options to manage your money. First Financial Bank does not have the best savings rate, which means you should consider other options for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. First Financial Bank's CD rates are fair compared to the average U.S. bank. 

Rates

With a savings rate of 0.06%, First Financial Bank ranks below the mean compared to other U.S. banks.  one-year CD earns at a rate of 0.25% and the five-year CD has a rate of 1.50%, while its highest-yielding money market account earns at a rate of 0.10%. Given First Financial Bank's below average savings rate, you should consider other options to earn more on your deposits.

Compare First Financial Bank to Other Competitive Offers

Fees

On average, First Financial Bank charges its customers average fees in comparison to other U.S. banks. First Financial Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. For those who withdraw cash often, First Financial Bank is fair because it has an ATM fee of $1.75, which is fair as compared against the national average. Additionally, First Financial Bank has an overdraft fee of $36, which is somewhat higher than the average overdraft fee charged by U.S. banks, making it satisfactory for those who don't check their balance often. 

Financial Health

First Financial Bank is a large bank and has $3 billion in assets as well as $2 billion in deposits. First Financial Bank's Texas Ratio is 4.43%, suggesting an extremely small possibility of failure. Additionally, First Financial Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a First Financial Bank Near Me

First Financial Bank has 65 physical branches across the U.S.

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