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First National Bank of Tennessee Review

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First National Bank of Tennessee Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

First National Bank of Tennessee started in 1965 and its headquarters are located in Livingston, Tennessee. It has $824 million in assets and deposits totaling $727 million, making it a medium-size bank. First National Bank of Tennessee lacks premium access to support representatives, 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. At a SmartAsset rating of 4.4 out of 5 stars, First National Bank of Tennessee should be solidly in contention for your choice of bank. First National Bank of Tennessee has a varied selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. First National Bank of Tennessee has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, First National Bank of Tennessee's ordinary checking account does not have a monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is the best bet for getting the most income on your deposits alongside convenient access to your funds.

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

3.1
SmartAsset Average: 3.5

With a savings rate of 0.20%, First National Bank of Tennessee ranks poorly in comparison to the average U.S. bank. Its CDs feature a rate of 0.25% and 1.35% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.20%. Given First National Bank of Tennessee's noncompetitive savings rate, you should consider looking elsewhere to open savings accounts.

How First National Bank of Tennessee's Savings Rates Compare

First National Bank of Tennessee Savings 0.20 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

First National Bank of Tennessee has generally extremely low fees as compared against the national average. With no monthly fee, First National Bank of Tennessee is ideal for people who want a simple banking experience. First National Bank of Tennessee does not reimburse out-of-network ATM charges, meaning you'll need to search for a First National Bank of Tennessee ATM or eat the cost of withdrawal.

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

4.4
SmartAsset Average: 3.7

First National Bank of Tennessee is a brick-and-mortar bank, with seven total bank locations in Tennessee. It also offers access to mobile and web apps for straightforward access and banking on the go. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Thursday, 8:00 a.m. to 4:30 p.m. ET; Friday, and 8:00 a.m. to 5:00 p.m. ET. First National Bank of Tennessee receives positive scores from users for its mobile app. The First National Bank of Tennessee mobile app is rated at 4.8 out of 5 (with 770 reviews on iOS and Android) compared to the national average of 3.8. First National Bank of Tennessee's mobile app lets you control your finances by looking at monthly statements, transferring funds as well as accessing support representatives. First National Bank of Tennessee gets an excellent consumer satisfaction score based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.8/5
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 National Bank of Tennessee ranks as a medium-size bank with $824 million in assets and $727 million in deposits. Its Texas Ratio is 3.12%, suggesting that First National Bank of Tennessee is in superb financial well-being and far from failure. Additionally, First National Bank of Tennessee is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.12%
High Risk 75% 50% 20% 10% Low Risk

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 Tennessee to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $100
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.70% APY
  • 36 Month: 1.20% APY
  • 48 Month: 1.35% APY
  • 60 Month: 1.35% APY
$1000 for all terms
Money Market Account 0.2% APY $25000

First National Bank of Tennessee 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 National Bank of Tennessee 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 Tennessee's CD rates are fair in comparison to the national average.

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Find a First National Bank of Tennessee Near Me

First National Bank of Tennessee has seven physical branches in the U.S.

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