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First State Bank and Trust Company Review

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First State Bank and Trust Company Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1902, First State Bank and Trust Company has assets totaling $461 million as well as $379 million in deposits, which makes it a medium-size bank. First State Bank and Trust Company, whose headquarters are in Carthage, Texas, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. Coming in at a superb 4.5 stars out of 5, First State Bank and Trust Company proves it is a superb bank that you should seriously consider. First State Bank and Trust Company has a varied selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, 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 State Bank and Trust Company's standard checking account does not have a monthly fee. Using a bank with free checking, in addition to a high savings APY is your best option for getting the most income on your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.5/5
National Average: 4.1

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

Rates

3.6
SmartAsset Average: 3.5

First State Bank and Trust Company has a savings rate of 0.20%, which is poor as compared against the national average. Its CDs feature a rate of 1.36% and 2.02% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.20%. Given First State Bank and Trust Company's poor savings rate, you should consider other options to earn more on your deposits.

How First State Bank and Trust Company's Savings Rates Compare

First State Bank and Trust Company Savings 0.20 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

First State Bank and Trust Company generally has extremely low fees compared to the national average. With no monthly fee, First State Bank and Trust Company's checking account is ideal for those who need an easy banking experience. First State Bank and Trust Company doesn't refund out-of-network ATM charges, meaning you'll have to find a First State Bank and Trust Company 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

4.3
SmartAsset Average: 3.7

First State Bank and Trust Company is a brick-and-mortar bank, with one total branches in Texas. With mobile and web apps, First State Bank and Trust Company makes mobile banking convenient, even on the go. First State Bank and Trust Company gets high praise from users for its mobile banking services. The First State Bank and Trust Company mobile app has an overall rating of 4.7 out of 5 (with 9 reviews on iOS and Android) compared to the national average of 3.8. First State Bank and Trust Company's mobile app lets you control your finances by reviewing monthly statements, sending and receiving money and reaching customer service. First State Bank and Trust Company receives a superb consumer satisfaction rating due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.7/5
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 State Bank and Trust Company is currently a medium-size bank owning $461 million in assets as well as $379 million in deposits. First State Bank and Trust Company has an excellent Texas Ratio of 1.61%, indicating a minute possibility of failure. Additionally, First State Bank and Trust Company 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 State Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $100
Checking Account 0.2% APY $1500
Certificates of Deposit
  • 12 Month: 1.36% APY
  • 24 Month: 1.51% APY
  • 36 Month: 1.61% APY
  • 48 Month: 1.71% APY
  • 60 Month: 2.02% APY
$1000 for all terms
Money Market Accounts 0.2% APY 0.2% APY $10000 $15000

First State Bank and Trust Company has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First State Bank and Trust Company 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 State Bank and Trust Company's CD rates are fair compared to the average U.S. bank.

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Find a First State Bank and Trust Company Near Me

First State Bank and Trust Company has one physical branches in the U.S.

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