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First Guaranty Bank Review

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First Guaranty Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Established in 1934, First Guaranty Bank has $2 billion in assets along with deposits totaling $2 billion, classifying the institution as a large bank. First Guaranty Bank, whose headquarters are in Hammond, Louisiana, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. Overall, First Guaranty Bank is a good bank that gets the job done, with a score of 3.9 stars out of 5 from the SmartAsset team. First Guaranty Bank has the full slate of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking product carries a $5.00 monthly fee, although banks sometimes have requirements that allow you to waive the fee. Obtaining a checking account with no monthly fee as well as a savings account with a high APY at the same institution is the best bet for accruing the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

First Guaranty Bank features a savings rate of 0.05%, which is poor in comparison to the average U.S. bank. Its CD rates are 2.35% and 3.00% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.05%. Given its poor savings rate, you should think about choosing another bank to earn more on your deposits.

How First Guaranty Bank's Savings Rates Compare

First Guaranty Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, First Guaranty Bank charges its customers high fees in comparison to other U.S. banks. First Guaranty Bank's checking account has a monthly fee of $5.00, rating it fair for anyone looking for a hassle-free account. First Guaranty Bank does not reimburse out-of-network ATM charges, meaning you'll be required to find a First Guaranty Bank ATM or eat the ATM charge.

Monthly Fee $5.00 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

SmartAsset Average: 3.7

First Guaranty Bank is a brick-and-mortar bank, with 27 total bank locations in Louisiana and Texas. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Thursday, 8:00 a.m. to 5:00 p.m. CT; Friday, and 8:00 a.m. to 5:30 p.m. CT. First Guaranty Bank's online and mobile banking platforms get fairly high praise from users. With 84 customer reviews across both Apple and Android platforms, the First Guaranty Bank mobile app has an overall rating of 4.2 out of 5 (compared to the national average of 3.8). First Guaranty Bank's mobile app lets you manage your finances by monitoring current statements, transferring funds as well as accessing support representatives. First Guaranty Bank receives an excellent consumer satisfaction rating due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial 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

SmartAsset Average: 4.8

First Guaranty Bank is a large bank with $2 billion in assets and $2 billion in deposits. Its Texas Ratio is 7.56%, denoting a tiny likelihood of failure. Additionally, First Guaranty Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Guaranty Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 2.35% APY
  • 24 Month: 2.70% APY
  • 36 Month: 3.00% APY
  • 48 Month: 3.00% APY
  • 60 Month: 3.00% APY
$500 for all terms
Money Market Account 0.05% APY $1500

First Guaranty Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First Guaranty Bank does not have the best savings rate, which means you should think about taking a look 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 Guaranty Bank's CD rates are fair in comparison to other U.S. banks.

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Find a First Guaranty Bank Near Me

First Guaranty Bank has 27 branches in the U.S.

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