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First State Bank and Trust Company Review

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

Overview

Started in 1902, First State Bank and Trust Company has assets totaling $461 million along with $379 million in deposits, ranking the institution as a medium-size bank. First State Bank and Trust Company, whose headquarters are in Carthage, Texas, lacks premium access to support representatives, with no live chat or all-day service options available. 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 State Bank and Trust Company is among the top banks, and should be given strong consideration, with a score of 4.5 stars out of 5 from our team. First State Bank and Trust Company has a complete suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First State Bank and Trust Company 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 account does not have a monthly maintenance charge. Institutions that offer free checking, in addition to a high interest rate savings account are the best option for accruing the highest income from 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 features a savings rate of 0.15%, which is poor compared to the average U.S. bank. Its one-year CD has a rate of 1.26% and the five-year CD earns at a rate of 2.02%, while its highest-yielding money market account earns at an APY of 0.16%. Given its noncompetitive savings rate, you should think about looking elsewhere to open savings accounts.

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

First State Bank and Trust Company Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

First State Bank and Trust Company has typically extremely low fees in comparison to the average U.S. bank. Its checking account has no monthly fee, making it excellent for anyone looking for a simple account. First State Bank and Trust Company does not refund out-of-network ATM charges, meaning you will need 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 bank locations in Texas. With mobile and web apps, First State Bank and Trust Company makes mobile banking straightforward, even on the go. First State Bank and Trust Company's online and mobile banking services get great feedback from customers. With 9 customer reviews on both iOS and Android platforms, the First State Bank and Trust Company mobile app rates a 4.7 out of 5 (compared to the national average of 3.8). You can access First State Bank and Trust Company's mobile app to manage your accounts by reviewing account balances, sending and receiving money as well as accessing customer service. First State Bank and Trust Company receives a superb consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed 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 a medium-size bank and manages $461 million in assets as well as deposits totaling $379 million. First State Bank and Trust Company has an excellent Texas Ratio of 1.61%, suggesting a low likelihood 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 0.15% APY $100
Checking Account 0.15% APY $1500
Certificates of Deposit
  • 12 Month: 1.26% APY
  • 24 Month: 1.41% APY
  • 36 Month: 1.61% APY
  • 48 Month: 1.71% APY
  • 60 Month: 2.02% APY
$1000 for all terms
Money Market Account 0.16% APY $2500

First State Bank and Trust Company 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 State Bank and Trust Company does not have the best savings rate, which means you should think about 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 State Bank and Trust Company's CD rates are fair in comparison to other U.S. banks.

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Find a First State Bank and Trust Company Near Me

First State Bank and Trust Company has one physical locations across the U.S.

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