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First National Bank of Eastern Arkansas Review

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

Overview

First National Bank of Eastern Arkansas started in 1886 and its headquarters are located in Forrest City, Arkansas. First National Bank of Eastern Arkansas manages assets of $407 million and $364 million in deposits, making it a small bank. First National Bank of Eastern 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. With an average 3.8 out of 5 stars, First National Bank of Eastern Arkansas proves it is a bank with better alternatives. First National Bank of Eastern Arkansas provides customers with a full array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking product maintains a $8.00 monthly fee, which ranks on the higher end of monthly fees. Locating a bank with no-fee checking and a high interest rate savings account is the best option for gaining the most income on your deposits alongside 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

With a savings rate of 0.25%, First National Bank of Eastern Arkansas ranks poorly compared to the average U.S. bank. First National Bank of Eastern Arkansas's CDs feature a rate of 2.00% and 2.00% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.25%. Given its noncompetitive savings rate, you should think about looking at the competition to open savings accounts.

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 compared to other U.S. banks. At $8.00/month, First National Bank of Eastern Arkansas is not ideal for people who want a basic banking experience. First National Bank of Eastern Arkansas unfortunately doesn't refund out-of-network ATM charges, meaning you will need to search for a First National Bank of Eastern Arkansas ATM or accept the withdrawal fee.

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. With mobile and web apps, First National Bank of Eastern Arkansas makes mobile banking easy, even on the go. First National Bank of Eastern Arkansas's online and mobile banking services receive fair scores from customers. The First National Bank of Eastern Arkansas mobile app scored a 3.7 out of 5 (out of 21 reviews on Apple and Android) compared to the national average of 3.8. You can use First National Bank of Eastern Arkansas's mobile app to manage your bank accounts by checking account balances, transferring funds as well as accessing customer service. First National Bank of Eastern Arkansas gets an exceptional consumer satisfaction rating based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored 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 currently a small bank owning assets totaling $407 million and $364 million in deposits. First National Bank of Eastern Arkansas's Texas Ratio is 0.52%, indicating that the bank is in outstanding financial shape and far from 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 Accounts 0.25% APY 0.25% APY $10000 $15000

First National Bank of Eastern Arkansas offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First National Bank of Eastern Arkansas does not have the best savings rate, which means you should consider looking 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 Eastern Arkansas's CD rates are fair compared to other U.S. banks.

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Find a First National Bank of Eastern Arkansas Near Me

First National Bank of Eastern Arkansas has 14 branches in the U.S.

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