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.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
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
There is insufficient data on First Western Trust Bank's fees to provide a full SmartAsset rating.
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.
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
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.Back to Overview
Compare First Western Trust Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$500|
|Checking Account||0.05% APY||$1|
|Certificates of Deposit|| ||$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.Back to Overview
Find a First Western Trust Bank Near Me
First Western Trust Bank has 10 physical branches across the U.S.Back to Overview