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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


First Guaranty Bank was founded in 1934 with its headquarters in Hammond, Louisiana. It has $2 billion in assets as well as $2 billion in deposits, ranking it as a large bank. First Guaranty 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. We ranked First Guaranty Bank at a 3.9 out of 5 stars, suggesting it is a respectable bank that you should consider. First Guaranty Bank has a mixture of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First Guaranty Bank has a fair savings rate compared to the average savings account. The bank's standard checking account carries a monthly fee of $5.00, which places it at the higher end of monthly fees. Locating a checking account with no monthly fee and a savings account with a high APY at the same bank is your best option for gaining the most income on your deposits while maintaining easy access to your money.

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 has a savings rate of 0.05%, which is fair as compared against the national average. First Guaranty Bank's one-year CD earns at a rate of 1.55% and the five-year CD earns at a rate of 3.00%, while its highest-yielding money market account has an APY of 0.05%. Given its poor savings rate, you should consider opting for higher earning savings accounts with other banks.

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

First Guaranty Bank charges customers high fees compared to the average U.S. bank. First Guaranty Bank's checking account has a monthly fee of $5.00, making it fair for anyone looking for a simple account. First Guaranty Bank unfortunately doesn't refund out-of-network ATM fees, meaning you'll be required to locate a First Guaranty Bank ATM or eat the cost of withdrawal.

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. With mobile and web apps, First Guaranty Bank makes account access straightforward, even on the go. It does not provide access to 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 moderately good scores from users. The First Guaranty Bank mobile app scored a 4.2 out of 5 (with 84 customer reviews on Apple and Android) compared to the national average of 3.8. You can use First Guaranty Bank's app to control your accounts by monitoring current statements, transferring funds as well as accessing support representatives. First Guaranty Bank receives a superb consumer satisfaction score due to comparatively few consumer 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

SmartAsset Average: 4.8

First Guaranty Bank is currently a large bank and handles $2 billion in assets and $2 billion in deposits. First Guaranty Bank's Texas Ratio is 7.56%, signifying a small 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: 1.55% APY
  • 24 Month: 2.00% APY
  • 36 Month: 2.05% APY
  • 48 Month: 2.35% 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 to give you many options to manage your money. First Guaranty 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 Guaranty Bank's CD rates are fair compared to the average U.S. bank.

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Find a First Guaranty Bank Near Me

First Guaranty Bank has 27 locations across the U.S.

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