Loading
Tap on the profile icon to edit
your financial details.

First Kentucky Bank Review

Your Details Done
by Updated
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 Kentucky Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

First Kentucky Bank was founded in 1899 and is headquartered in Mayfield, Kentucky. It owns $423 million in assets and $345 million in deposits, making it a medium-size bank. First Kentucky Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. We ranked the bank at a 4.3 out of 5 stars, which means First Kentucky Bank is a great choice and should warrant serious consideration. First Kentucky Bank has multiple banking products, including savings accounts, checking accounts, money market accounts, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, First Kentucky Bank's most basic checking account does not have a monthly fee. Banks that offer free checking and a high interest rate savings account are the best option for gaining the most income on your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.10%, First Kentucky Bank ranks poorly in comparison to the average U.S. bank. Its one-year CD has a rate of 0.10% and the five-year CD earns at a rate of 0.30%, while its highest-yielding money market account has an APY of 0.10%. Given First Kentucky Bank's noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How First Kentucky Bank's Savings Rates Compare

First Kentucky Bank Savings 0.10 National Average 0.26 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

On average, First Kentucky Bank charges customers extremely low fees compared to other U.S. banks. Its checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. First Kentucky Bank unfortunately does not refund out-of-network ATM fees, meaning you will be required to locate a First Kentucky Bank ATM or accept the withdrawal fee.

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
Back to Overview

Service Quality

4.2
SmartAsset Average: 3.7

First Kentucky Bank is a brick-and-mortar bank, with 11 total branches in Kentucky. It also offers access to mobile and web apps for a straightforward mobile-banking experience. First Kentucky Bank receives high marks from customers for its mobile platform. The First Kentucky Bank mobile app scored a 4.5 out of 5 (with 150 customer reviews on Apple and Android) compared to the national average of 3.8. First Kentucky Bank's mobile app lets you manage your funds by monitoring monthly statements, transferring funds as well as reaching support representatives. First Kentucky Bank gets a superb consumer satisfaction score due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.9
SmartAsset Average: 4.8

First Kentucky Bank ranks as a medium-size bank owning assets totaling $423 million and deposits totaling $345 million. Its Texas Ratio is 3.51%, suggesting that First Kentucky Bank is in superb financial shape and unlikely to fail. Additionally, First Kentucky Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.51%
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.

Back to Overview

Compare First Kentucky Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.01% APY $1500
Certificates of Deposit
  • 12 Month: 0.10% APY
  • 24 Month: 0.10% APY
  • 36 Month: 0.20% APY
  • 48 Month: 0.25% APY
  • 60 Month: 0.30% APY
$500 for all terms
Money Market Accounts 0.1% APY 0.1% APY $10000 $15000

First Kentucky Bank has several deposit products like savings accounts, checking accounts and money market accounts to give you many options to manage your money. First Kentucky 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 Kentucky Bank's CD rates are fair compared to the average U.S. bank.

Back to Overview

Find a First Kentucky Bank Near Me

First Kentucky Bank has 11 locations across the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure