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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 and has its headquarters in Searcy, Arkansas. First Security Bank manages assets of $5 billion along with $4 billion in deposits, classifying it as a large bank. First Security 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 in-person service, in addition to its online and mobile apps. On the whole, First Security Bank is a solid contender in your bank search, with a score of 4.3 out of 5 stars from our team. First Security Bank provides customers with the complete package of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. First Security Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, First Security Bank offers an option without a monthly fee. Locating a checking account with no monthly fee and a savings account with a high interest rate at the same bank is the best bet for accruing the most income on your deposits while having easy 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 as compared against the national average. First Security Bank's one-year CD earns at a rate of 0.25%, while its highest-yielding money market account earns at a rate of 0.25%. Given First Security Bank's poor savings rate, you should consider looking at the competition to open savings accounts.

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 charges customers extremely low fees as compared against the national average. With no monthly fee, First Security Bank's checking account is ideal for people who want an easy banking experience. First Security Bank unfortunately does not refund out-of-network ATM charges, meaning you will need to search for a First Security Bank ATM or pay the ATM charge.

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 branches in Arkansas. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not have all-day customer service with actual service 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 gets fairly high praise from users for its mobile banking services. With 780 ratings on both Apple and Android platforms, the First Security Bank mobile app rates a 4.2 out of 5 (compared to the national average of 3.8). You can use First Security Bank's app to manage your accounts by checking current statements, transferring money as well as reaching support representatives. First Security Bank receives an exceptional consumer satisfaction score based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial 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 with assets totaling $5 billion and deposits totaling $4 billion. First Security Bank's Texas Ratio is 1.11%, denoting that the bank is in outstanding financial well-being 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: 0.25% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.70% APY
$500 for all terms
Money Market Account 0.25% APY $10000

First Security Bank has several deposit products including 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 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 Security Bank's CD rates are fair compared to the national average.

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Find a First Security Bank Near Me

First Security Bank has 80 locations across the U.S.

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