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Springfield First Community Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
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 started in 2008 with headquarters located in Springfield, Missouri. It handles assets of $545 million as well as deposits totaling $429 million, which makes it a medium-size bank. Springfield First Community Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Coming in at a superb 4.6 out of 5 stars, Springfield First Community Bank proves it is a top-tier bank that would be an ideal pick. Springfield First Community Bank offers a varied selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, the bank's most basic checking does not carry a monthly fee. Finding a checking account with no monthly fee and a savings account with a high interest rate at the same institution is your best option for returning the most income from your deposits alongside convenient access to your money.

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

With a savings rate of 0.30%, Springfield First Community Bank ranks poorly compared to the average U.S. bank. Its one-year CD earns at a rate of 2.02% and the five-year CD earns at a rate of 2.53%, while its highest-yielding money market account earns at a rate of 0.30%. Given Springfield First Community Bank's noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

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 has generally extremely low fees in comparison to the average U.S. bank. Springfield First Community Bank's checking account has no monthly fee, rating it excellent for anyone looking for a simple account. Springfield First Community Bank unfortunately does not reimburse out-of-network ATM charges, which means you'll have to find a Springfield First Community Bank ATM or accept the cost of withdrawal.

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 branches in Missouri. With mobile and web apps, Springfield First Community Bank makes mobile banking easy, even on the go. Springfield First Community Bank's online and mobile banking services receive relatively decent ratings from users. The Springfield First Community Bank mobile app is rated at 4.0 out of 5 (with 4 ratings on iOS and Android) compared to the national average of 3.8. Springfield First Community Bank's mobile app allows you to control your bank accounts by reviewing monthly statements, transferring money and reaching customer service. Springfield First Community Bank gets an excellent consumer satisfaction score based on relatively few consumer complaints registered with 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 owning $545 million in assets and deposits totaling $429 million. Springfield First Community Bank's Texas Ratio is 1.64%, denoting that Springfield First Community Bank is in superb financial health and improbable to fail. 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: 2.27% APY
  • 36 Month: 2.53% APY
  • 48 Month: 2.53% APY
  • 60 Month: 2.53% APY
$1000 for all terms
Money Market Accounts 0.3% APY 0.3% APY $10000 $15000

Springfield First Community Bank has several deposit products like 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 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. Springfield First Community Bank's CD rates are fair compared to the average U.S. bank.

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Find a Springfield First Community Bank Near Me

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

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