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First National Bank of Eastern Arkansas Review

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First National Bank of Eastern Arkansas Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1886, First National Bank of Eastern Arkansas has assets totaling $407 million and deposits totaling $364 million, classifying it as a small bank. First National Bank of Eastern Arkansas, whose headquarters are in Forrest City, Arkansas, 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 apps. SmartAsset experts rated the bank 3.8 stars out of 5, suggesting First National Bank of Eastern Arkansas is an acceptable bank choice, but may leave you wanting more. First National Bank of Eastern Arkansas provides customers with a diverse array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account features a monthly fee of $8.00, which places it at the higher end of monthly fees. Institutions that offer free checking as well as a high savings APY are the best bet for gaining the most income on your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.8/5
National Average: 4.1

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

Rates

4.3
SmartAsset Average: 3.5

First National Bank of Eastern Arkansas features a savings rate of 0.25%, which is fair in comparison to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 2.00% and 2.00%, respectively, while its highest-yielding money market account earns at an APY of 0.25%. Given its noncompetitive savings rate, you should consider other options to earn more on your deposits.

How First National Bank of Eastern Arkansas's Savings Rates Compare

First National Bank of Eastern Arkansas Savings 0.25 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

First National Bank of Eastern Arkansas charges customers high fees in comparison to the average U.S. bank. At $8.00 per month, First National Bank of Eastern Arkansas's checking account is less than great for those who want a hassle-free banking experience. First National Bank of Eastern Arkansas unfortunately doesn't reimburse out-of-network ATM fees, meaning you will be required to locate a First National Bank of Eastern Arkansas ATM or accept the ATM charge.

Monthly Fee $8.00 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 National Bank of Eastern Arkansas is a brick-and-mortar bank, with 14 total bank locations in Arkansas and Tennessee. It also offers access to mobile and web apps for a straightforward mobile-banking experience. First National Bank of Eastern Arkansas's online and mobile banking platforms receive fair feedback from customers. The First National Bank of Eastern Arkansas mobile app has an overall rating of 3.7 out of 5 (out of 21 ratings on iOS and Android) compared to the national average of 3.8. First National Bank of Eastern Arkansas's mobile app allows you to control your funds by reviewing monthly statements, sending and receiving funds as well as accessing customer service. First National Bank of Eastern Arkansas gets an exceptional consumer satisfaction score based on relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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

5.0
SmartAsset Average: 4.8

First National Bank of Eastern Arkansas is a small bank and handles assets totaling $407 million as well as deposits totaling $364 million. Its Texas Ratio is 0.52%, signifying a negligible likelihood of failure. Additionally, First National Bank of Eastern Arkansas 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 National Bank of Eastern Arkansas to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $100
Checking Account 0.25% APY $1000
Certificates of Deposit
  • 12 Month: 2.00% APY
  • 24 Month: 2.00% APY
  • 36 Month: 2.00% APY
  • 48 Month: 2.00% APY
  • 60 Month: 2.00% APY
$1000 for all terms
Money Market Account 0.25% APY $1000

First National Bank of Eastern Arkansas has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. First National Bank of Eastern Arkansas 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 National Bank of Eastern Arkansas's CD rates are fair as compared against the national average.

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Find a First National Bank of Eastern Arkansas Near Me

First National Bank of Eastern Arkansas has 14 locations across the U.S.

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