Established in 1952, First Security Bank has assets totaling $558 million and deposits totaling $463 million, making the institution a medium-size bank. First Security Bank, whose headquarters are in Batesville, Mississippi, lacks premium access to support representatives, 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. Coming in at a poor 3.2 out of 5 stars, First Security Bank proves it is a fair bank that does not compare with some of the other banks. First Security Bank offers a full choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking account features a monthly fee of $6.00, which ranks on the higher end of monthly fees. Finding a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is the best bet for gaining the most income on your deposits while having easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.20%, First Security Bank ranks poorly in comparison to other U.S. banks. Its one-year CD has a rate of 0.75% and the five-year CD has a rate of 1.35%, while its highest-yielding money market account has a rate of 0.20%. Given First Security Bank's noncompetitive savings rate, you should consider other options to earn more on your deposits.
How First Security Bank's Savings Rates Compare
On average, First Security Bank charges customers high fees in comparison to the national average. Its checking account has a monthly fee of $6.00, rating it fair for anyone looking for a hassle-free account. First Security Bank unfortunately doesn't reimburse out-of-network ATM fees, meaning you'll need to search for a First Security Bank ATM or eat the ATM charge.
First Security Bank is a brick-and-mortar bank, with 17 total bank locations in Mississippi. With a mobile app, First Security Bank provides convenient mobile banking, even from home or work. First Security Bank receives an outstanding consumer satisfaction score based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
First Security Bank is a medium-size bank and manages assets totaling $558 million as well as deposits totaling $463 million. Its Texas Ratio is 7.78%, signifying that First Security Bank is in fine financial shape and far from failure. Additionally, First Security Bank 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.Back to Overview
Compare First Security Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.2% APY||$100|
|Checking Account||0.2% APY||$1000|
|Certificates of Deposit|| ||$2500 for all terms|
|Money Market Account||0.2% APY||$1|
First Security Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First Security 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 Security Bank's CD rates are fair in comparison to other U.S. banks.Back to Overview
Find a First Security Bank Near Me
First Security Bank has 17 branches across the U.S.Back to Overview