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First State Bank of Blakely Review

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First State Bank of Blakely Savings
0.75% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1903, First State Bank of Blakely has assets totaling $467 million and $361 million in deposits, classifying the institution as a medium-size bank. First State Bank of Blakely, whose headquarters are in Blakely, Georgia, 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 in-person service, in addition to its online and mobile apps. SmartAsset has rated First State Bank of Blakely 3.7 out of 5 stars, indicating that it is a decent bank that leaves room for improvement. First State Bank of Blakely has the full slate of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First State Bank of Blakely has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, First State Bank of Blakely's standard checking account does not have a monthly maintenance fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is your best option for gaining the most income on your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.7/5
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 State Bank of Blakely features a savings rate of 0.75%, which is fair in comparison to the average U.S. bank. Its one-year CD has a rate of 2.02% and the five-year CD earns at a rate of 1.82%, while its highest-yielding money market account earns at a rate of 0.85%. Given First State Bank of Blakely's below average savings rate, you should consider other options to earn more on your deposits.

How First State Bank of Blakely's Savings Rates Compare

First State Bank of Blakely Savings 0.75 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

First State Bank of Blakely charges customers low fees in comparison to the national average. With no monthly fee, First State Bank of Blakely's checking account is ideal for those who need an easy checking account. Additionally, at $35.00, its overdraft fee is lower than the average overdraft fee charged by U.S. banks. First State Bank of Blakely unfortunately doesn't refund out-of-network ATM charges, meaning you'll be required to find a First State Bank of Blakely ATM or eat the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

2.5
SmartAsset Average: 3.7

First State Bank of Blakely is a brick-and-mortar bank, with seven total branches in Georgia. With mobile and web apps, First State Bank of Blakely makes mobile banking easy, even on the go. You can access First State Bank of Blakely's app to manage your funds by reviewing account balances, sending and receiving money as well as reaching customer service. First State Bank of Blakely receives a superb consumer satisfaction rating due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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

4.9
SmartAsset Average: 4.8

First State Bank of Blakely ranks as a medium-size bank with $467 million in assets and $361 million in deposits. Its Texas Ratio is 3.69%, signifying a minute possibility of failure. Additionally, First State Bank of Blakely is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.69%
High Risk 75% 50% 20% 10% Low Risk

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 of Blakely to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.75% APY $100
Checking Account 0.85% APY $1000
Certificates of Deposit
  • 12 Month: 2.02% APY
  • 24 Month: 2.52% APY
  • 36 Month: 1.32% APY
  • 48 Month: 1.52% APY
  • 60 Month: 1.82% APY
$1000 for all terms
Money Market Accounts 0.85% APY 0.85% APY $10000 $15000

First State Bank of Blakely 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 of Blakely 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 of Blakely's CD rates are fair in comparison to other U.S. banks.

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Find a First State Bank of Blakely Near Me

First State Bank of Blakely has seven branches in the U.S.

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