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Southern First Bank Review

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Southern First Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Southern First Bank first started operating in 2000 and is headquartered in Greenville, South Carolina. It owns $2 billion in assets and $1 billion in deposits, ranking it as a large bank. Southern First 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. With an average 3.7 stars out of 5, Southern First Bank proves it is a bank with better alternatives. Southern First Bank offers a complete choice of banking products, including savings accounts, checking accounts, money market accounts, CDs and mortgage products. Southern First Bank has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account carries a $5.00 monthly fee, which ranks on the higher end of monthly fees. Banks that offer no-fee checking and a high savings APY are your best option for returning the most income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.05%, Southern First Bank ranks poorly in comparison to the average U.S. bank. Its one-year CD earns at a rate of 0.20% and the five-year CD has a rate of 0.60%, while its highest-yielding money market account has a rate of 0.15%. Given its noncompetitive savings rate, you should consider looking elsewhere to open savings accounts.

How Southern First Bank's Savings Rates Compare

Southern First Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Southern First Bank typically has high fees in comparison to other U.S. banks. Its checking account has a monthly fee of $5.00, rating it fair for anyone looking for a hassle-free account. Southern First Bank unfortunately doesn't reimburse out-of-network ATM charges, meaning you will have to search for a Southern First Bank ATM or eat the fee.

Monthly Fee $5.00 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

SmartAsset Average: 3.7

Southern First Bank is a brick-and-mortar bank, with 11 total bank locations in Georgia, North Carolina and South Carolina. With mobile and web apps, Southern First Bank makes account access straightforward, even on the go. Southern First Bank's online and mobile banking services receive relatively high scores from customers. The Southern First Bank mobile app rates a 4.0 out of 5 (out of 40 reviews on Apple and Android) compared to the national average of 3.8. You can access Southern First Bank's app to control your accounts by checking monthly statements, transferring funds as well as reaching support representatives. Southern First Bank receives an outstanding consumer satisfaction rating based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government 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

SmartAsset Average: 4.8

Southern First Bank ranks as a large bank and handles $2 billion in assets as well as $1 billion in deposits. Southern First Bank's Texas Ratio is 4.32%, denoting a low chance of failure. Additionally, Southern 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

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 Southern First Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Checking Account 0.01% APY $5000
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.30% APY
  • 36 Month: 0.40% APY
  • 48 Month: 0.55% APY
  • 60 Month: 0.60% APY
$1000 for all terms
Money Market Account 0.1% APY $5000

Southern 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. Southern 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. Southern First Bank's CD rates are fair compared to other U.S. banks.

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Find a Southern First Bank Near Me

Southern First Bank has 11 physical branches across the U.S.

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