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First Oklahoma Bank Review

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


First Oklahoma Bank was founded in 1923 and its headquarters are located in Jenks, Oklahoma. It owns assets of $565 million and $490 million in deposits, classifying it as a medium-size bank. First Oklahoma Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a superb 4.7 out of 5 stars, First Oklahoma Bank is among the best banks, and should be given strong consideration. First Oklahoma Bank provides customers with a complete choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It 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 Oklahoma Bank's standard checking account does not have a monthly fee. Finding a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same bank is the best option for accruing the most income on your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

First Oklahoma Bank has a savings rate of 0.35%, which is poor compared to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 2.40% and 3.20%, respectively, while its highest-yielding money market account earns at an APY of 0.35%. Given First Oklahoma Bank's noncompetitive savings rate, you should consider other options to earn more on your deposits.

How First Oklahoma Bank's Savings Rates Compare

First Oklahoma Bank Savings 0.35 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, First Oklahoma Bank charges customers extremely low fees in comparison to other U.S. banks. With no monthly fee, First Oklahoma Bank is ideal for those who want a simple checking account. First Oklahoma Bank unfortunately doesn't refund out-of-network ATM fees, meaning you'll be required to search for a First Oklahoma Bank ATM or pay 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

SmartAsset Average: 3.7

First Oklahoma Bank is a brick-and-mortar bank, with three total branches in Oklahoma. It also offers access to mobile and web apps for an easy mobile-banking experience. First Oklahoma Bank's online and mobile banking services get great scores from customers. The First Oklahoma Bank mobile app has an overall rating of 4.5 out of 5 (out of 8 customer reviews on Apple and Android) compared to the national average of 3.8. First Oklahoma Bank's mobile app lets you control your bank accounts by checking current statements, transferring funds and reaching customer service. First Oklahoma Bank gets an exceptional consumer satisfaction rating based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

First Oklahoma Bank ranks as a medium-size bank with assets totaling $565 million as well as $490 million in deposits. Its Texas Ratio is 3.28%, denoting a low likelihood of failure. Additionally, First Oklahoma Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Oklahoma Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.35% APY $100
Checking Account 0.7% APY $1
Certificates of Deposit
  • 12 Month: 2.40% APY
  • 24 Month: 2.70% APY
  • 36 Month: 2.75% APY
  • 48 Month: 3.00% APY
  • 60 Month: 3.20% APY
$1000 for all terms
Money Market Account 0.35% APY $1

First Oklahoma Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. First Oklahoma Bank does not have the best savings rate, which means you should think about 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 Oklahoma Bank's CD rates are fair in comparison to other U.S. banks.

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Find a First Oklahoma Bank Near Me

First Oklahoma Bank has three physical locations in the U.S.

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