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Texas First State Bank Review

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Texas First State Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1906, Texas First State Bank has assets totaling $410 million and $377 million in deposits, which makes the institution a small bank. Texas First State Bank, whose headquarters are in Riesel, Texas, 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 offerings. With a score of 3.9 stars out of 5, Texas First State Bank should be near the middle of the pack in your search for a bank. Texas First State Bank offers an array product offerings, which include savings accounts, checking accounts and money market accounts. Texas First State Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Texas First State Bank offers an option without a maintenance or monthly fee. Institutions that offer no-fee checking as well as a high savings APY are your best bet for gaining the most income on your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

3.6
SmartAsset Average: 3.5

Texas First State Bank has a savings rate of 0.25%, which is poor as compared against the national average. Texas First State Bank's one-year CD earns at a rate of 0.90% and the five-year CD has a rate of 2.02%, while its highest-yielding money market account earns at an APY of 0.25%. Given its noncompetitive savings rate, you should consider taking a look at other banks for savings accounts.

How Texas First State Bank's Savings Rates Compare

Texas First State Bank Savings 0.25 National Average 0.26 Compare Offers
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Fees

4.4
SmartAsset Average: 4.4

Texas First State Bank has generally low fees compared to the national average. With no monthly fee, Texas First State Bank is perfect for people who want a simple checking account. For those who will need cash in a pinch, Texas First State Bank is less than ideal because it has an out-of-network ATM fee of $3.00, which is not ideal in comparison to the average U.S. bank. Additionally, at $30.00, it has a markedly lower overdraft fee compared to the average overdraft fee charged by U.S. banks. Texas First State Bank does not reimburse out-of-network ATM charges, meaning you'll need to find a Texas First State Bank ATM or pay the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $3.00 National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

2.5
SmartAsset Average: 3.7

Texas First State Bank is a brick-and-mortar bank, with six total bank locations in Texas. With mobile and web apps, Texas First State Bank makes mobile banking easy, even on the go. You can use Texas First State Bank's app to manage your bank accounts by monitoring account balances, sending and receiving money as well as reaching support representatives. Texas First State Bank gets a superb consumer satisfaction score based on relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating NR
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

Texas First State Bank is a small bank with assets totaling $410 million as well as $377 million in deposits. It has an excellent Texas Ratio of 0.25%, indicating a negligible chance of failure. Additionally, Texas First State 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 Texas First State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $100
Checking Account 0.25% APY $100
Certificates of Deposit
  • 12 Month: 0.90% APY
  • 24 Month: 1.51% APY
  • 36 Month: 1.61% APY
  • 48 Month: 2.02% APY
  • 60 Month: 2.02% APY
$1000 for all terms
Money Market Account 0.25% APY $2500

Texas First State Bank has several deposit products including savings accounts, checking accounts and money market accounts to give you many options to manage your money. Texas First State Bank does not have the best savings rate, which means you should consider 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. Texas First State Bank's CD rates are fair compared to the average U.S. bank.

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Find a Texas First State Bank Near Me

Texas First State Bank has six physical branches across the U.S.

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