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First Western Trust Bank Review

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First Western Trust Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 2004, First Western Trust Bank has assets totaling $953 million and $823 million in deposits, making it a medium-size bank. First Western Trust Bank, whose headquarters are in Denver, Colorado, lacks premium access to customer service, 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. With a score of 3.5 stars out of 5, First Western Trust Bank should be more closely examined to see if its features match your needs. First Western Trust Bank has a variety of product offerings, including savings accounts, checking accounts, money market accounts, CDs and mortgage products. First Western Trust Bank has a fair savings rate compared to the average savings account. Obtaining a checking account with no monthly fee and a savings account with a high APY at the same institution is the best option for returning the most income from your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.5/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.4
SmartAsset Average: 3.5

With a savings rate of 0.10%, First Western Trust Bank ranks poorly compared to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 1.12% and 1.70%, respectively, while its highest-yielding money market account earns at an APY of 0.15%. Given its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

How First Western Trust Bank's Savings Rates Compare

First Western Trust Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on First Western Trust Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

2.3
SmartAsset Average: 3.7

First Western Trust Bank is a brick-and-mortar bank, with 10 total branches in Arizona, California, Colorado and Wyoming. It also offers access to mobile and web apps for a simple mobile-banking experience. First Western Trust Bank's online and mobile banking platforms receive mediocre feedback from customers. With 1 ratings across both iOS and Android platforms, the First Western Trust Bank mobile app rates a 1.0 out of 5 (compared to the national average of 3.8). First Western Trust Bank's mobile app lets you manage your finances by checking monthly statements, transferring funds and reaching support representatives. First Western Trust Bank receives a superb consumer satisfaction rating due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 1.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

First Western Trust Bank ranks as a medium-size bank owning assets totaling $953 million and $823 million in deposits. Its Texas Ratio is 4.76%, indicating that the bank is in outstanding financial condition and unlikely to fail. Additionally, First Western Trust Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.76%
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 Western Trust Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $500
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 1.12% APY
  • 24 Month: 1.41% APY
  • 36 Month: 1.52% APY
  • 60 Month: 1.70% APY
$10000 for all terms
Money Market Account 0.15% APY $1

First Western Trust Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First Western Trust Bank 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 Western Trust Bank's CD rates are fair compared to the average U.S. bank.

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Find a First Western Trust Bank Near Me

First Western Trust Bank has 10 physical branches across the U.S.

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