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First Savings Bank Review

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First Savings Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


First Savings Bank started in 1989 and its headquarters are located in Beresford, South Dakota. It manages $711 million in assets along with deposits totaling $586 million, ranking it as a medium-size bank. First Savings Bank 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 in-person service, in addition to its online and mobile apps. With a commendable 4.2 stars out of 5, First Savings Bank proves it is a great choice and should warrant serious consideration. First Savings Bank offers a full suite 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. If you're looking for a checking account for everyday use, First Savings Bank offers an option without a maintenance or monthly fee. Finding a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is the best option for returning the most income from your deposits while maintaining easy 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 Savings Bank features a savings rate of 0.10%, which is fair compared to the average U.S. bank. First Savings Bank's CDs feature a rate of 0.35% and 1.00% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.10%. Given its below average savings rate, you should think about other options to earn more on your deposits.

How First Savings Bank's Savings Rates Compare

First Savings Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, First Savings Bank charges its customers extremely low fees as compared against the national average. With no monthly fee, First Savings Bank is perfect for those who want a basic checking account. First Savings Bank unfortunately doesn't reimburse out-of-network ATM fees, meaning you'll have to find a First Savings Bank ATM or pay 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

SmartAsset Average: 3.7

First Savings Bank is a brick-and-mortar bank, with 22 total branches in Arizona, Nebraska, Nevada, New Mexico, South Dakota and Texas. It also offers access to mobile and web apps for simple access and banking on the go. First Savings Bank's online and mobile banking platforms receive fairly decent ratings from users. The First Savings Bank mobile app is rated at 4.1 out of 5 (with 26 reviews on iOS and Android) compared to the national average of 3.8. You can use First Savings Bank's app to control your funds by checking monthly statements, sending and receiving funds as well as reaching customer service. First Savings Bank gets a superb consumer satisfaction score due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

First Savings Bank is a medium-size bank owning $711 million in assets as well as deposits totaling $586 million. First Savings Bank's Texas Ratio is 7.47%, denoting a tiny possibility of failure. Additionally, First Savings 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 Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.03% APY $2500
Certificates of Deposit
  • 12 Month: 0.35% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.65% APY
  • 48 Month: 0.80% APY
  • 60 Month: 1.00% APY
$10000 for all terms
Money Market Account 0.05% APY $1000

First Savings 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 Savings Bank 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 Savings Bank's CD rates are fair as compared against the national average.

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Find a First Savings Bank Near Me

First Savings Bank has 22 locations across the U.S.

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