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First Harrison Bank Review

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First Harrison Bank Savings
0.04% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


First Harrison Bank was founded in 1891 with headquarters located in Corydon, Indiana. First Harrison Bank owns $757 million in assets along with deposits totaling $667 million, which makes it a medium-size bank. First Harrison Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. Coming in at a commendable 4 stars out of 5, First Harrison Bank is a respectable bank that should be given a look. First Harrison Bank has a variety of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, First Harrison Bank's standard checking does not have a monthly maintenance charge. Locating a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is your best bet for gaining the most income from your deposits alongside 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

With a savings rate of 0.04%, First Harrison Bank ranks poorly compared to the national average. First Harrison Bank's CDs feature a rate of 0.70% and 1.35% 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 First Harrison Bank's poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How First Harrison Bank's Savings Rates Compare

First Harrison Bank Savings 0.04 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

First Harrison Bank has generally extremely low fees compared to other U.S. banks. With no monthly fee, First Harrison Bank's checking account is perfect for those who need an easy checking account. First Harrison Bank doesn't reimburse out-of-network ATM charges, which means you'll be required to locate a First Harrison Bank ATM or eat the cost of withdrawal.

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

SmartAsset Average: 3.7

First Harrison Bank is a brick-and-mortar bank, with 18 total bank locations in Indiana and Kentucky. With mobile and web apps, First Harrison Bank makes mobile banking straightforward, even on the go. First Harrison Bank's online and mobile banking services get mediocre marks from users. Out of 110 customer reviews on both iOS and Android platforms, the First Harrison Bank mobile app is scored at 2.9 out of 5 (compared to the national average of 3.8). First Harrison Bank's mobile app allows you to control your bank accounts by looking at monthly statements, transferring funds as well as accessing support representatives. First Harrison Bank gets a superb consumer satisfaction rating due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 2.9/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

First Harrison Bank is a medium-size bank and owns $757 million in assets and $667 million in deposits. First Harrison Bank's Texas Ratio is 8.48%, signifying a small chance of failure. Additionally, First Harrison 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 Harrison Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.04% APY $2500
Checking Account 0.05% APY $2500
Certificates of Deposit
  • 12 Month: 0.70% APY
  • 24 Month: 0.85% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.20% APY
  • 60 Month: 1.35% APY
$2500 for all terms
Money Market Account 0.05% APY $10000

First Harrison 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 Harrison 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 Harrison Bank's CD rates are fair compared to other U.S. banks.

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Find a First Harrison Bank Near Me

First Harrison Bank has 18 branches across the U.S.

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