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First Security Bank Review

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First Security Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

First Security Bank started in 1932 with headquarters located in Searcy, Arkansas. It handles assets of $5 billion as well as $4 billion in deposits, making it a large bank. First Security 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 access to service representatives at a physical location, in addition to its online and mobile apps. Overall, First Security Bank is a great choice and should warrant serious consideration, with a rating of 4.3 stars out of 5 from the SmartAsset experts. First Security Bank offers a mixture of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. 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 Security Bank's ordinary checking account does not have a monthly fee. Banks that offer no-fee checking, in addition to a high savings APY are the best option for returning the most income on your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

3.0
SmartAsset Average: 3.5

First Security Bank has a savings rate of 0.15%, which is fair compared to other U.S. banks. Its one-year CD earns at a rate of 1.00%, while its highest-yielding money market account has an APY of 0.50%. Given First Security Bank's below average savings rate, you should consider choosing another bank to earn more on your deposits.

How First Security Bank's Savings Rates Compare

First Security Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

First Security Bank generally has extremely low fees as compared against the national average. With no monthly fee, First Security Bank is ideal for people who want a simple checking account. First Security Bank doesn't reimburse out-of-network ATM fees, which means you'll be required to locate a First Security Bank ATM or pay the withdrawal 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

4.1
SmartAsset Average: 3.7

First Security Bank is a brick-and-mortar bank, with 80 total bank locations in Arkansas. It also offers access to mobile and web apps for easy access and banking on the go. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 9:00 p.m. CT; Saturday, and 8:00 a.m. to 1:00 p.m. CT. First Security Bank's online and mobile banking services receive fairly decent ratings from customers. The First Security Bank mobile app scored a 4.2 out of 5 (out of 780 ratings on iOS and Android) compared to the national average of 3.8. You can access First Security Bank's app to manage your bank accounts by checking current statements, transferring money and accessing customer service. First Security Bank gets a superb consumer satisfaction rating due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.2/5
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 Security Bank ranks as a large bank owning assets totaling $5 billion as well as deposits totaling $4 billion. First Security Bank's Texas Ratio is 1.11%, signifying that First Security Bank is in superb financial condition 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.

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Compare First Security Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Checking Account 0.5% APY $1
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.26% APY
  • 36 Month: 1.31% APY
$500 for all terms
Money Market Accounts 0.5% APY 0.5% APY $10000 $15000

First Security 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 Security Bank does not have the best savings rate, which means you should consider other options 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 the average U.S. bank.

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Find a First Security Bank Near Me

First Security Bank has 80 physical branches in the U.S.

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