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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

First State Bank of Blakely was founded in 1903 and its headquarters are located in Blakely, Georgia. First State Bank of Blakely handles $467 million in assets and $361 million in deposits, ranking it as a medium-size bank. First State Bank of Blakely 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 in-person service, in addition to its online and mobile offerings. On the whole, First State Bank of Blakely is a decent choice, but with better options out there, with a score of 3.7 out of 5 stars from the SmartAsset experts. First State Bank of Blakely provides customers with a complete suite of product offerings, which include 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 does not carry a monthly fee. Locating an institution with free checking as well as a high interest rate savings account is the best bet for accruing the highest income on your deposits while having convenient access to your funds.

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 has a savings rate of 0.75%, which is poor as compared against the national average. First State Bank of Blakely's CD rates are 2.02% and 1.82% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.85%. Given its poor savings rate, you should think about 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 has generally low fees in comparison to the national average. With no monthly fee, First State Bank of Blakely is ideal for people who want a basic banking experience. Also, at $35.00, it has a lower overdraft fee compared to the national average overdraft fee. First State Bank of Blakely does not reimburse out-of-network ATM charges, meaning you will be required to search for a First State Bank of Blakely ATM or accept 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 bank locations in Georgia. It also offers access to mobile and web apps for easy access and banking on the go. First State Bank of Blakely's mobile app lets you manage your bank accounts by checking current statements, transferring money as well as accessing customer service. First State Bank of Blakely gets a superb consumer satisfaction score due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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 is currently a medium-size bank and has $467 million in assets and $361 million in deposits. First State Bank of Blakely's Texas Ratio is 3.69%, denoting a minute probability 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
$100 for all terms
Money Market Account 0.85% APY $2500

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 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 State Bank of Blakely's CD rates are fair in comparison to the average U.S. bank.

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Find a First State Bank of Blakely Near Me

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

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