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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

Established in 2004, First Western Trust Bank has assets totaling $953 million along with $823 million in deposits, classifying it as a medium-size bank. First Western Trust Bank, whose headquarters are in Denver, Colorado, 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 offerings. Coming in at an average 3.5 out of 5 stars, First Western Trust Bank proves it is an acceptable bank choice, but may leave you wanting more. First Western Trust Bank has a complete suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs and mortgage products. It has a fair savings rate; other popular banks have higher rates. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best bet for getting the most income from your deposits while having convenient 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

First Western Trust Bank features a savings rate of 0.10%, which is fair in comparison to the national average. Its one-year CD has a rate of 1.12% and the five-year CD earns at a rate of 1.70%, while its highest-yielding money market account has an APY of 0.15%. Given its below average savings rate, you should consider 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. With mobile and web apps, First Western Trust Bank makes mobile banking easy, even on the go. First Western Trust Bank's online and mobile banking services get poor marks from customers. The First Western Trust Bank mobile app has been given a 1.0 out of 5 (with 1 reviews on iOS and Android) compared to the national average of 3.8. First Western Trust Bank's mobile app lets you control your accounts by looking at monthly statements, sending and receiving money as well as accessing support representatives. First Western Trust Bank gets an exceptional consumer satisfaction score due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government 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 is currently a medium-size bank owning $953 million in assets as well as deposits totaling $823 million. Its Texas Ratio is 4.76%, suggesting that First Western Trust Bank is in outstanding financial well-being and improbable 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 $1000
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 like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. First Western Trust Bank 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 Western Trust Bank's CD rates are fair as compared against the national average.

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Find a First Western Trust Bank Near Me

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

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