Started in 1964, First National Bank of Clarksdale has $368 million in assets as well as deposits totaling $291 million, ranking it as a small bank. First National Bank of Clarksdale, whose headquarters are in Clarksdale, Mississippi, 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 offerings. We gave First National Bank of Clarksdale a 3.8 stars out of 5, suggesting it is a decent choice, but with better options out there. First National Bank of Clarksdale offers the full selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, the bank's most basic checking account does not have a monthly maintenance fee. Finding a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best option for gaining 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
With a savings rate of 0.10%, First National Bank of Clarksdale ranks poorly as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.80% and 1.50%, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given its poor savings rate, you should think about looking elsewhere to open savings accounts.
How First National Bank of Clarksdale's Savings Rates Compare
On average, First National Bank of Clarksdale charges customers low fees compared to the average U.S. bank. First National Bank of Clarksdale's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Also, First National Bank of Clarksdale has an overdraft fee of $35.00, which is on par with the average overdraft fee charged by U.S. banks. First National Bank of Clarksdale unfortunately doesn't reimburse out-of-network ATM fees, meaning you will need to locate a First National Bank of Clarksdale ATM or accept the withdrawal fee.
First National Bank of Clarksdale is a brick-and-mortar bank, with five total bank locations in Mississippi. It also offers access to mobile and web apps for easy access and banking on the go. First National Bank of Clarksdale's mobile app lets you control your finances by monitoring current statements, sending and receiving money and reaching customer service. First National Bank of Clarksdale gets a superb consumer satisfaction rating based on relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
First National Bank of Clarksdale ranks as a small bank with $368 million in assets as well as $291 million in deposits. First National Bank of Clarksdale's Texas Ratio is 0.42%, signifying a negligible chance of failure. Additionally, First National Bank of Clarksdale 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 National Bank of Clarksdale to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$100|
|Checking Account||0.1% APY||$1000|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.1% APY 0.1% APY||$10000 $15000|
First National Bank of Clarksdale has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. First National Bank of Clarksdale 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 National Bank of Clarksdale's CD rates are fair in comparison to the national average.Back to Overview
Find a First National Bank of Clarksdale Near Me
First National Bank of Clarksdale has five branches in the U.S.Back to Overview