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First State Bank of St. Charles Review

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First State Bank of St. Charles Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1867, First State Bank of St. Charles has $374 million in assets and deposits totaling $280 million, making it a small bank. First State Bank of St. Charles, whose headquarters are in St. Charles, Missouri, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Overall, First State Bank of St. Charles is a respectable bank that deserves your consideration, with a score of 3.9 out of 5 stars from the SmartAsset experts. First State Bank of St. Charles offers a full selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, 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, the bank's most basic checking account does not carry 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 getting the most income from your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.9/5
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 St. Charles has a savings rate of 0.10%, which is poor compared to the national average. First State Bank of St. Charles's one-year CD earns at a rate of 0.50% and the five-year CD has a rate of 2.00%, while its highest-yielding money market account earns at an APY of 0.10%. Given First State Bank of St. Charles's noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How First State Bank of St. Charles's Savings Rates Compare

First State Bank of St. Charles Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

First State Bank of St. Charles charges its customers extremely low fees as compared against the national average. With no monthly fee, First State Bank of St. Charles is ideal for those who want a simple checking account. For those who often frequent the ATM, it is ideal because it charges no out-of-network ATM fees. First State Bank of St. Charles unfortunately doesn't refund out-of-network ATM fees, which means you will be required to search for a First State Bank of St. Charles ATM or accept the ATM charge.

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

2.5
SmartAsset Average: 3.7

First State Bank of St. Charles is a brick-and-mortar bank, with six total bank locations in Missouri. With mobile and web apps, First State Bank of St. Charles makes mobile banking convenient, even on the go. You can utilize First State Bank of St. Charles's app to control your funds by monitoring current statements, transferring money as well as reaching support representatives. First State Bank of St. Charles receives a superb consumer satisfaction rating due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government 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

5.0
SmartAsset Average: 4.8

First State Bank of St. Charles ranks as a small bank with $374 million in assets and deposits totaling $280 million. Its Texas Ratio is 2.00%, denoting a minute likelihood of failure. Additionally, First State Bank of St. Charles 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 of St. Charles to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.75% APY
  • 36 Month: 1.50% APY
  • 48 Month: 1.70% APY
  • 60 Month: 2.00% APY
$1000 for all terms
Money Market Account 0.1% APY $1000

First State Bank of St. Charles has 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 of St. Charles does not have the best savings rate, which means you should consider 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 of St. Charles's CD rates are fair in comparison to other U.S. banks.

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Find a First State Bank of St. Charles Near Me

First State Bank of St. Charles has six locations across the U.S.

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