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Fresno First Bank Review

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Fresno First Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 2005, Fresno First Bank has assets totaling $407 million and deposits totaling $371 million, ranking the institution as a small bank. Fresno First Bank, whose headquarters are in Fresno, California, 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 access to service representatives at a physical location, in addition to its online and mobile offerings. Overall, Fresno First Bank is a fair bank that you should further examine to see if it fits your needs, with a rating of 3.1 stars out of 5 from the SmartAsset experts. Fresno First Bank provides customers with the full package of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Fresno First Bank has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product has a monthly fee of $10.00, which ranks on the higher end of monthly fees. Banks that offer free checking and a high interest rate savings account are the best option for getting the most income on your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.1/5
National Average: 4.1

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

Rates

3.3
SmartAsset Average: 3.5

With a savings rate of 0.15%, Fresno First Bank ranks poorly compared to the national average. Fresno First Bank's one-year CD has a rate of 0.75% and the five-year CD earns at a rate of 2.02%, while its highest-yielding money market account earns at an APY of 0.16%. Given its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

How Fresno First Bank's Savings Rates Compare

Fresno First Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

Fresno First Bank charges customers high fees compared to the average U.S. bank. At $10.00 per month, Fresno First Bank is less than ideal for those who want a basic banking experience. Fresno First Bank doesn't refund out-of-network ATM charges, which means you'll have to locate a Fresno First Bank ATM or pay the cost of withdrawal.

Monthly Fee $10.00 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

2.5
SmartAsset Average: 3.7

Fresno First Bank is a brick-and-mortar bank, with one total branches in California. With mobile and web apps, Fresno First Bank makes account access convenient, even on the go. Fresno First Bank's mobile app lets you manage your finances by monitoring account balances, transferring money and accessing support representatives. Fresno First Bank receives a superb consumer satisfaction rating due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial 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

4.7
SmartAsset Average: 4.8

Fresno First Bank is currently a small bank with $407 million in assets and deposits totaling $371 million. Fresno First Bank's Texas Ratio is 6.68%, suggesting that Fresno First Bank is in good financial condition and improbable to fail. Additionally, Fresno First Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

6.68%
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 Fresno First Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.15% APY $1
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 1.11% APY
  • 36 Month: 1.36% APY
  • 48 Month: 1.77% APY
  • 60 Month: 2.02% APY
$1000 for all terms
Money Market Account 0.16% APY $10000

Fresno First Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Fresno First Bank 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. Fresno First Bank's CD rates are fair in comparison to the national average.

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Find a Fresno First Bank Near Me

Fresno First Bank has one branches across the U.S.

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