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First State Bank and Trust Company Review

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First State Bank and Trust Company Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1934, First State Bank and Trust Company has $360 million in assets along with deposits totaling $311 million, ranking the institution as a small bank. First State Bank and Trust Company, whose headquarters are in Caruthersville, Missouri, lacks premium access to support representatives, 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. At a SmartAsset rating of 4.5 stars out of 5, First State Bank and Trust Company should be solidly in contention for your choice of bank. First State Bank and Trust Company provides customers with a full selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. First State Bank and Trust Company 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 offers an option without a maintenance or monthly fee. Obtaining a checking account with no monthly fee as well as a savings account with a high APY at the same bank is your best option for gaining the most income from your deposits while having easy access to your funds.

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

4.3
SmartAsset Average: 3.5

With a savings rate of 0.25%, First State Bank and Trust Company ranks poorly compared to the average U.S. bank. First State Bank and Trust Company's CD rates are 2.05% and 2.20% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 1.66%. Given First State Bank and Trust Company's below average savings rate, you should consider choosing another bank to earn more on your deposits.

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

First State Bank and Trust Company Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, First State Bank and Trust Company charges customers extremely low fees in comparison to other U.S. banks. With no monthly fee, First State Bank and Trust Company's checking account is perfect for those who need an easy banking experience. First State Bank and Trust Company unfortunately does not reimburse out-of-network ATM fees, which means you'll need to locate a First State Bank and Trust Company ATM or accept the 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

3.7
SmartAsset Average: 3.7

First State Bank and Trust Company is a brick-and-mortar bank, with five total branches in Missouri. 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 receive fair feedback from users. The First State Bank and Trust Company mobile app rates a 3.5 out of 5 (with 15 ratings on Apple and Android) compared to the national average of 3.8. First State Bank and Trust Company's mobile app allows you to manage your bank accounts by looking at monthly statements, sending and receiving money and reaching customer service. First State Bank and Trust Company receives a superb consumer satisfaction score due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.5/5
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 small bank with assets totaling $360 million and $311 million in deposits. First State Bank and Trust Company's Texas Ratio is 1.04%, denoting 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 0.25% APY $100
Checking Account 0.15% APY $1500
Certificates of Deposit
  • 12 Month: 2.05% APY
  • 24 Month: 2.35% APY
  • 36 Month: 2.10% APY
  • 48 Month: 2.15% APY
  • 60 Month: 2.20% APY
$1000 for all terms
Money Market Account 1.46% APY $1

First State Bank and Trust Company offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. First State Bank and Trust Company does not have the best savings rate, which means you should consider taking a look 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 national average.

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Find a First State Bank and Trust Company Near Me

First State Bank and Trust Company has five physical branches across the U.S.

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