FirstBank was founded in 1963 and its headquarters are located in Lakewood, Colorado. It manages assets of $18 billion along with deposits totaling $16 billion, which makes it a very large bank. FirstBank has above-average access to customer service with all-day support available, great for getting help during the work week. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Overall, FirstBank is an excellent bank that warrants a strong look, with a score of 4.6 out of 5 stars from the SmartAsset team. FirstBank provides customers with a variety of product offerings, which include savings accounts, checking accounts, money market accounts, IRAs and mortgage products. FirstBank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, FirstBank offers an option without a monthly fee. Banks that offer no-fee checking as well as a high savings APY are the best bet for returning the most income from your deposits while having easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.05%, FirstBank ranks poorly compared to the national average. FirstBank's one-year and five-year term lengths CDs earn at a rate of 3.04% and 2.02%, respectively, while its highest-yielding money market account earns at a rate of 0.20%. Given FirstBank's noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.
How FirstBank's Savings Rates Compare
FirstBank generally has extremely low fees in comparison to other U.S. banks. With no monthly fee, FirstBank is ideal for those who want a basic checking account. FirstBank unfortunately does not refund out-of-network ATM charges, meaning you'll be required to locate a FirstBank ATM or accept the fee.
FirstBank is a brick-and-mortar bank, with 119 total bank locations in Arizona, California and Colorado. It also offers access to mobile and web apps for simple access and banking on the go. It provides all-day customer service. FirstBank's online and mobile banking platforms receive high praise from customers. Out of 35,000 ratings on Apple and Android platforms, the FirstBank mobile app is scored at 4.6 out of 5 (compared to the national average of 3.8). FirstBank's mobile app lets you control your bank accounts by reviewing monthly statements, transferring money as well as reaching customer service. FirstBank gets a superb consumer satisfaction rating based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
FirstBank is a very large bank owning $18 billion in assets and $16 billion in deposits. Its Texas Ratio is 0.91%, indicating a low possibility of failure. Additionally, FirstBank 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 FirstBank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.05% APY||$1|
|Checking Account||0.21% APY||$500|
|Certificates of Deposit|| ||$10000 for all terms|
|Money Market Accounts||0.08% APY 0.2% APY||$10000 $15000|
FirstBank has several deposit products like savings accounts, checking accounts and money market accounts to give you many options to manage your money. FirstBank does not have the best savings rate, which means you should think about 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. FirstBank's CD rates are fair compared to other U.S. banks.Back to Overview
Find a FirstBank Near Me
FirstBank has 119 physical locations in the U.S.Back to Overview