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NewFirst National Bank Review

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NewFirst National Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

NewFirst National Bank was founded in 1902 with headquarters in El Campo, Texas. It manages $698 million in assets along with $615 million in deposits, which makes it a medium-size bank. NewFirst National Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. At a SmartAsset rating of 3.6 out of 5 stars, NewFirst National Bank should be near the middle of the pack in your search for a bank. NewFirst National Bank has a full suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It 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, making it a rather expensive bank for checking. Locating a checking account with no monthly fee and a savings account with a high APY at the same institution is your best bet for returning the most income on your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.6/5
National Average: 4.1

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

Rates

3.7
SmartAsset Average: 3.5

NewFirst National Bank has a savings rate of 0.10%, which is poor as compared against the national average. NewFirst National Bank's one-year CD earns at a rate of 1.51% and the five-year CD earns at a rate of 2.17%, while its highest-yielding money market account has an APY of 1.00%. Given its poor savings rate, you should consider taking a look at other banks for savings accounts.

How NewFirst National Bank's Savings Rates Compare

NewFirst National Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

NewFirst National Bank generally has high fees as compared against the national average. NewFirst National Bank's checking account has a monthly fee of $10.00, ranking it fair for anyone looking for a hassle-free account. NewFirst National Bank does not refund out-of-network ATM fees, meaning you'll be required to find a NewFirst National 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

4.0
SmartAsset Average: 3.7

NewFirst National Bank is a brick-and-mortar bank, with nine total branches in Texas. It also offers access to mobile and web apps for straightforward access and banking on the go. NewFirst National Bank gets relatively high marks from users for its mobile app. With 4 customer reviews on iOS and Android platforms, the NewFirst National Bank mobile app is scored at 4.0 out of 5 (compared to the national average of 3.8). NewFirst National Bank's mobile app lets you control your funds by reviewing current statements, sending and receiving money and reaching support representatives. NewFirst National Bank gets a superb consumer satisfaction score based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.5
SmartAsset Average: 4.8

NewFirst National Bank is currently a medium-size bank and has assets totaling $698 million as well as deposits totaling $615 million. It has a strong Texas Ratio of 11.84%, indicating that the bank is in fine financial shape and unlikely to fail. Additionally, NewFirst National Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

11.84%
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 NewFirst National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.02% APY $1500
Certificates of Deposit
  • 12 Month: 1.51% APY
  • 24 Month: 1.86% APY
  • 36 Month: 1.91% APY
  • 48 Month: 2.20% APY
  • 60 Month: 2.17% APY
$10000 for all terms
Money Market Accounts 0.75% APY 1.0% APY $10000 $15000

NewFirst National Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. NewFirst National 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. NewFirst National Bank's CD rates are fair as compared against the national average.

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Find a NewFirst National Bank Near Me

NewFirst National Bank has nine branches across the U.S.

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