Founded in 1924, Security First Bank has assets totaling $961 million and deposits totaling $769 million, making it a medium-size bank. Security First Bank, whose headquarters are in Lincoln, Nebraska, lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. At a SmartAsset rating of 4.3 out of 5 stars, Security First Bank should be solidly in contention for your choice of bank. Security First Bank has a diversity of banking products, which include savings accounts, money market accounts, CDs, mortgage products and credit cards. Security First Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Security First Bank's most basic checking does not carry a monthly charge. Banks that offer no-fee checking, in addition to a high interest rate savings account are the best bet for getting the highest income on 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%, Security First Bank ranks poorly compared to the national average. Its CDs feature a rate of 1.00% and 2.78% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.15%. Given Security First Bank's below average savings rate, you should consider opting for higher earning savings accounts with other banks.
How Security First Bank's Savings Rates Compare
Security First Bank has generally extremely low fees compared to the national average. Security First Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. Security First Bank does not reimburse out-of-network ATM charges, meaning you'll need to locate a Security First Bank ATM or eat the ATM charge.
Security First Bank is a brick-and-mortar bank, with 32 total bank locations in Nebraska and South Dakota. With mobile and web apps, Security First Bank makes account access convenient, even on the go. It does not provide access to all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday and 8:00 a.m. to 4:30 p.m. MT. Security First Bank receives moderately good scores from users for its mobile banking services. The Security First Bank mobile app rates a 4.0 out of 5 (with 25 ratings on Apple and Android) compared to the national average of 3.8. Security First Bank's mobile app lets you manage your funds by monitoring account balances, transferring money and reaching customer service. Security First Bank receives an outstanding consumer satisfaction rating based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
Security First Bank ranks as a medium-size bank with $961 million in assets as well as $769 million in deposits. Its Texas Ratio is 2.03%, denoting a minute chance of failure. Additionally, Security 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
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 Security First Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.05% APY||$1|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Accounts||0.1% APY 0.15% APY||$10000 $15000|
Security First Bank has several deposit products including savings accounts, money market accounts and CDs to give you many options to manage your money. Security First Bank 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. Security First Bank's CD rates are fair compared to the average U.S. bank.Back to Overview
Find a Security First Bank Near Me
Security First Bank has 32 physical branches across the U.S.Back to Overview