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First Southern National Bank Review

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First Southern National Bank Savings
0.06% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

First Southern National Bank started in 1865 and has its headquarters in Lancaster, Kentucky. First Southern National Bank manages $849 million in assets and $751 million in deposits, classifying it as a medium-size bank. First Southern National Bank has above-average access to customer service with a live chat feature, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With a score of 4.1 stars out of 5, First Southern National Bank should be solidly in contention for your choice of bank. First Southern National Bank offers a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First Southern National Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's most basic checking does not have a monthly fee. Institutions that offer no-fee checking and a high interest rate savings account are your best bet for accruing the highest income on your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

With a savings rate of 0.06%, First Southern National Bank ranks poorly in comparison to other U.S. banks. First Southern National Bank's one-year CD has a rate of 0.02% and the five-year CD has a rate of 0.02%, while its highest-yielding money market account earns at a rate of 0.02%. Given First Southern National Bank's poor savings rate, you should think about choosing another bank to earn more on your deposits.

How First Southern National Bank's Savings Rates Compare

First Southern National Bank Savings 0.06 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, First Southern National Bank charges customers extremely low fees as compared against the national average. With no monthly fee, First Southern National Bank is ideal for people who want a simple banking experience. First Southern National Bank doesn't reimburse out-of-network ATM fees, meaning you'll be required to locate a First Southern National Bank ATM or accept 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

3.8
SmartAsset Average: 3.7

First Southern National Bank is a brick-and-mortar bank, with 18 total bank locations in Kentucky. It also offers access to mobile and web apps for a simple mobile-banking experience. First Southern National Bank also offers a live chat feature, an alternative customer service tool if you can't call in during business hours. First Southern National Bank gets unsatisfactory feedback from users for its online presence. The First Southern National Bank mobile app rates a 3.2 out of 5 (with 32 reviews on iOS and Android) compared to the national average of 3.8. First Southern National Bank's mobile app lets you manage your accounts by checking current statements, transferring funds and accessing support representatives. First Southern National Bank gets a superb consumer satisfaction score based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

4.9
SmartAsset Average: 4.8

First Southern National Bank is currently a medium-size bank and manages assets totaling $849 million as well as deposits totaling $751 million. First Southern National Bank's Texas Ratio is 2.85%, suggesting that the bank is in outstanding financial health and improbable to fail. Additionally, First Southern National 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 Southern National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.06% APY $100
Checking Account 0.01% APY $2500
Certificates of Deposit
  • 12 Month: 0.02% APY
  • 24 Month: 0.02% APY
  • 36 Month: 0.02% APY
  • 48 Month: 0.02% APY
  • 60 Month: 0.02% APY
$500 for all terms
Money Market Account 0.02% APY $25000

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

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Find a First Southern National Bank Near Me

First Southern National Bank has 18 locations in the U.S.

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