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First Midwest Bank of Poplar Bluff Review

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First Midwest Bank of Poplar Bluff Savings
0.35% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

First Midwest Bank of Poplar Bluff started in 1964 and is headquartered in Poplar Bluff, Missouri. It manages $399 million in assets along with deposits totaling $341 million, which makes it a small bank. First Midwest Bank of Poplar Bluff lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a score of 4.4 stars out of 5, First Midwest Bank of Poplar Bluff should be solidly in contention for your choice of bank. First Midwest Bank of Poplar Bluff provides customers with a varied selection of banking products, including savings accounts, checking accounts, money market accounts, CDs and mortgage products. First Midwest Bank of Poplar Bluff has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, First Midwest Bank of Poplar Bluff offers an option without a monthly fee. Banks that offer free checking and a high interest rate savings account are your best option for getting the most income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

4.0
SmartAsset Average: 3.5

First Midwest Bank of Poplar Bluff features a savings rate of 0.35%, which is poor compared to the national average. Its CDs feature a rate of 1.25% and 2.25% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.45%. Given First Midwest Bank of Poplar Bluff's below average savings rate, you should consider choosing another bank to earn more on your deposits.

How First Midwest Bank of Poplar Bluff's Savings Rates Compare

First Midwest Bank of Poplar Bluff Savings 0.35 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

First Midwest Bank of Poplar Bluff has generally extremely low fees in comparison to the average U.S. bank. With no monthly fee, First Midwest Bank of Poplar Bluff's checking account is ideal for people who want a hassle-free banking experience. First Midwest Bank of Poplar Bluff doesn't refund out-of-network ATM fees, meaning you'll be required to find a First Midwest Bank of Poplar Bluff ATM or accept the 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
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Service Quality

3.8
SmartAsset Average: 3.7

First Midwest Bank of Poplar Bluff is a brick-and-mortar bank, with seven total bank locations in Missouri. It also offers access to mobile and web apps for a straightforward mobile-banking experience. First Midwest Bank of Poplar Bluff gets moderate marks from users for its mobile banking services. Out of 21 customer reviews across both Apple and Android platforms, the First Midwest Bank of Poplar Bluff mobile app has an overall rating of 3.7 out of 5 (compared to the national average of 3.8). You can utilize First Midwest Bank of Poplar Bluff's app to manage your finances by reviewing current statements, sending and receiving money and reaching support representatives. First Midwest Bank of Poplar Bluff receives a superb consumer satisfaction score due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

First Midwest Bank of Poplar Bluff ranks as a small bank owning assets totaling $399 million as well as deposits totaling $341 million. It has an excellent Texas Ratio of 2.16%, indicating that the bank is in terrific financial health and unlikely to fail. Additionally, First Midwest Bank of Poplar Bluff 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.

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Compare First Midwest Bank of Poplar Bluff to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.35% APY $100
Checking Account 0.15% APY $2500
Certificates of Deposit
  • 12 Month: 1.25% APY
  • 24 Month: 1.50% APY
  • 36 Month: 2.04% APY
  • 48 Month: 2.09% APY
  • 60 Month: 2.25% APY
$1000 for all terms
Money Market Account 0.45% APY $1000

First Midwest Bank of Poplar Bluff 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 Midwest Bank of Poplar Bluff does not have the best savings rate, which means you should consider 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 Midwest Bank of Poplar Bluff's CD rates are fair compared to the national average.

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Find a First Midwest Bank of Poplar Bluff Near Me

First Midwest Bank of Poplar Bluff has seven locations across the U.S.

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