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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 first started operating in 1902 with its headquarters in El Campo, Texas. It has $698 million in assets along with deposits totaling $615 million, ranking it as 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 in-person service, in addition to its online and mobile offerings. We gave NewFirst National Bank a 3.6 stars out of 5, suggesting it is an acceptable bank choice, but may leave you wanting more. NewFirst National Bank has a mixture 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 account maintains a $10.00 monthly fee, making it a rather expensive bank for checking. Finding a checking account with no monthly fee as well as a savings account with a high APY at the same bank is the best option for getting the most income on your deposits alongside 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 features a savings rate of 0.10%, which is poor compared to other U.S. banks. NewFirst National Bank's one-year CD earns at a rate of 1.51% and the five-year CD has a rate of 2.17%, while its highest-yielding money market account has an APY of 0.85%. Given its poor savings rate, you should think about 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 in comparison to the average U.S. bank. NewFirst National Bank's checking account has a monthly fee of $10.00, making it fair for anyone looking for a hassle-free account. NewFirst National Bank doesn't reimburse out-of-network ATM fees, meaning you will need to locate a NewFirst National Bank ATM or accept 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 bank locations in Texas. It also offers access to mobile and web apps for a straightforward mobile-banking experience. NewFirst National Bank's online and mobile banking services receive moderately positive feedback from users. The NewFirst National Bank mobile app has been given a 4.0 out of 5 (out of 4 reviews on Apple and Android) compared to the national average of 3.8. NewFirst National Bank's mobile app allows you to manage your funds by reviewing current statements, sending and receiving money as well as accessing support representatives. NewFirst National Bank receives an outstanding consumer satisfaction score 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 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 with $698 million in assets as well as deposits totaling $615 million. Its Texas Ratio is 11.84%, denoting a tiny possibility of failure. 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 Account 0.6% APY $10000

NewFirst National Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. NewFirst National Bank does not have the best savings rate, which means you should think about looking 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. NewFirst National Bank's CD rates are fair in comparison to 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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