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Springfield First Community Bank Review

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Springfield First Community Bank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Springfield First Community Bank first started operating in 2008 with headquarters located in Springfield, Missouri. Springfield First Community Bank has assets of $545 million as well as deposits totaling $429 million, classifying it as a medium-size bank. Springfield First Community 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 4.6 stars out of 5, Springfield First Community Bank should be near the top of your list for your bank search. Springfield First Community Bank provides customers with a complete suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Springfield First Community Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Springfield First Community Bank's most basic checking does not carry a monthly maintenance charge. Banks that offer no-fee checking, in addition to a high savings APY are the best option for getting the most income from your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.6/5
National Average: 4.1

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

Rates

4.4
SmartAsset Average: 3.5

Springfield First Community Bank features a savings rate of 0.30%, which is poor compared to the average U.S. bank. Springfield First Community Bank's one-year and five-year term lengths CDs earn at a rate of 2.02% and 2.27%, respectively, while its highest-yielding money market account has a rate of 0.30%. Given Springfield First Community Bank's noncompetitive savings rate, you should consider taking a look at other banks for savings accounts.

How Springfield First Community Bank's Savings Rates Compare

Springfield First Community Bank Savings 0.30 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Springfield First Community Bank charges customers extremely low fees in comparison to the national average. Springfield First Community Bank's checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. Springfield First Community Bank does not refund out-of-network ATM charges, which means you will be required to find a Springfield First Community Bank ATM or pay the fee.

Monthly Fee $0 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

Springfield First Community Bank is a brick-and-mortar bank, with one total bank locations in Missouri. With mobile and web apps, Springfield First Community Bank makes account access straightforward, even on the go. Springfield First Community Bank receives fairly high marks from customers for its mobile banking services. The Springfield First Community Bank mobile app scored a 4.0 out of 5 (out of 4 ratings on Apple and Android) compared to the national average of 3.8. You can access Springfield First Community Bank's app to control your bank accounts by looking at monthly statements, sending and receiving money and accessing support representatives. Springfield First Community Bank receives an excellent consumer satisfaction score due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed 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

5.0
SmartAsset Average: 4.8

Springfield First Community Bank is a medium-size bank with $545 million in assets as well as $429 million in deposits. Springfield First Community Bank's Texas Ratio is 1.64%, signifying a minute chance of failure. Additionally, Springfield First Community 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.

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Compare Springfield First Community Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.3% APY $100
Checking Account 0.3% APY $750
Certificates of Deposit
  • 12 Month: 2.02% APY
  • 24 Month: 2.12% APY
  • 36 Month: 2.12% APY
  • 48 Month: 2.12% APY
  • 60 Month: 2.27% APY
$1000 for all terms
Money Market Account 0.3% APY $1000

Springfield First Community Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Springfield First Community 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. Springfield First Community Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Springfield First Community Bank Near Me

Springfield First Community Bank has one branches across the U.S.

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