Founded in 1865, First Mid-Illinois Bank & Trust has assets totaling $3 billion as well as deposits totaling $2 billion, which makes it a large bank. First Mid-Illinois Bank & Trust, whose headquarters are in Mattoon, Illinois, 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 offerings. At a SmartAsset rating of 3.8 out of 5 stars, First Mid-Illinois Bank & Trust should be near the middle of the pack in your search for a bank. First Mid-Illinois Bank & Trust has the complete selection of banking products, including 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 account carries a monthly fee of $3.00, which is acceptable as compared against the national average. Locating a checking account with no monthly fee and a savings account with a high APY at the same institution is your best bet for accruing the most income from your deposits alongside easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
First Mid-Illinois Bank & Trust features a savings rate of 0.07%, which is fair in comparison to the national average. Its one-year CD earns at a rate of 0.30% and the five-year CD has a rate of 1.26%, while its highest-yielding money market account has an APY of 0.10%. Given its poor savings rate, you should consider taking a look at other banks for savings accounts.
How First Mid-Illinois Bank & Trust's Savings Rates Compare
First Mid-Illinois Bank & Trust charges customers average fees in comparison to the national average. First Mid-Illinois Bank & Trust's checking account has a monthly fee of $3.00, ranking it slightly worse for anyone looking for a hassle-free account. Also, at $32.00, it has a markedly lower overdraft fee compared to the average overdraft fee charged by U.S. banks. First Mid-Illinois Bank & Trust doesn't refund out-of-network ATM fees, which means you will need to search for a First Mid-Illinois Bank & Trust ATM or accept the fee.
First Mid-Illinois Bank & Trust is a brick-and-mortar bank, with 51 total branches in Illinois and Missouri. With mobile and web apps, First Mid-Illinois Bank & Trust makes account access straightforward, even on the go. It does not offer all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 7:00 a.m. to 6:00 p.m. CT; Saturday, and 8:00 a.m. to 2:00 p.m. CT. First Mid-Illinois Bank & Trust gets unsatisfactory feedback from customers for its online presence. The First Mid-Illinois Bank & Trust mobile app has been given a 2.9 out of 5 (with 260 customer reviews on iOS and Android) compared to the national average of 3.8. First Mid-Illinois Bank & Trust's mobile app allows you to manage your accounts by reviewing account balances, sending and receiving money and accessing customer service. First Mid-Illinois Bank & Trust gets an outstanding consumer satisfaction rating due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
First Mid-Illinois Bank & Trust is currently a large bank and owns assets totaling $3 billion and $2 billion in deposits. Its Texas Ratio is 5.31%, indicating a tiny likelihood of failure. Additionally, First Mid-Illinois Bank & Trust is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.
Texas Ratio Analysis
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 Mid-Illinois Bank & Trust to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.07% APY||$100|
|Checking Account||0.03% APY||$2500|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Account||0.1% APY||$25000|
First Mid-Illinois Bank & Trust offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. First Mid-Illinois Bank & Trust 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 Mid-Illinois Bank & Trust's CD rates are fair in comparison to other U.S. banks.Back to Overview
Find a First Mid-Illinois Bank & Trust Near Me
First Mid-Illinois Bank & Trust has 51 physical branches across the U.S.Back to Overview