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Texas First 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
Texas First Bank Savings
0.35% APY

Overview

Our Rating: 4.5/5 How we calculated this rating

Founded in 1982, Texas First Bank has assets totaling $1 billion and deposits totaling $953 million, classifying it as a medium-size bank. Texas First Bank, whose headquarters are in Texas City, Texas, has above-average customer service access with a live chat feature, which is helpful for those that work during typical customer service hours. It is a traditional brick-and-mortar bank, which means in-person service, in addition to its online and mobile presence. We gave Texas First Bank a 4.4 out of 5 stars, which means it is a great bank that you should seriously consider. 

Texas First Bank provides customers with a variety of product offerings, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. Texas First Bank's savings account earns an average APY, making it a decent option if you need a place to store your money. If you're looking for a checking account for everyday use, the bank's standard checking account does not carry a monthly maintenance charge. Using the same bank for checking and savings is best when you want to get the largest interest rates on your money while maintaining convenient control over your money.

Service Quality

Texas First Bank is a brick-and-mortar bank, with 23 total branches in Texas. With mobile and web apps, Texas First Bank makes mobile banking convenient, even on the go.  Texas First Bank also offers a live chat feature, something to consider if you work during the customer service hours.

Texas First Bank receives relatively high marks from users for its mobile platform: out of 79 customer reviews across both Apple and Android platforms, the Texas First Bank mobile app has an overall rating of 3.3 out of 5 (compared to the national average of 3.8). Texas First Bank's mobile app lets you manage your bank accounts by monitoring monthly statements, transferring funds and accessing customer service. Texas First Bank gets a superb consumer satisfaction score due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.35% APY $300 Compare Offers
Certificates of Deposit
  • 12 Month: 1.26% APY
  • 24 Month: 1.31% APY
  • 36 Month: 1.31% APY
  • 48 Month: 2.68% APY
  • 60 Month: 1.41% APY
$1,000 for all tiers Compare Offers
Checking Accounts 0.20% APY $1,500 Compare Offers

Texas First Bank offers several deposit products like savings accounts, checking accounts and CDs, meaning you have many options to manage your money. It does not have the best savings rate, which means you should consider looking elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Texas First Bank's CD rates are competitive compared to the national average.

Rates

With a savings rate of 0.35%, Texas First Bank ranks around the mean in comparison to the national average. Texas First Bank's one-year CD has a rate of 1.26% and the five-year CD earns at a rate of 1.41%. With a moderate savings rate, Texas First Bank's savings account can be used to save towards an important landmark like a new mortgage.

Compare Texas First Bank to Other Competitive Offers

Fees

On average, Texas First Bank charges its customers extremely low fees compared to the average U.S. bank. With no monthly fee, Texas First Bank's checking account is ideal for people who need a hassle-free banking experience. Texas First Bank reimburses their ATM fees (with conditions), which means convenient access to cash at any time.

Financial Health

Texas First Bank ranks as a medium-size bank and manages assets totaling $1 billion as well as $953 million in deposits. Its Texas Ratio is 2.12%, signifying that Texas First Bank is in excellent financial well-being and exceedingly unlikely to fail. Additionally, Texas First Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Texas First Bank Near Me

Texas First Bank has 23 physical locations across the U.S.

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