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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

Texas First State Bank was founded in 1906 and is headquartered in Riesel, Texas. It owns $410 million in assets as well as $377 million in deposits, classifying it as a small bank. Texas First State Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional 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 provides customers with a diversity of banking products, which include savings accounts, checking accounts and money market accounts. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Texas First State Bank's standard checking account does not carry a monthly fee. Finding an institution with no-fee checking, in addition to a high savings APY is the best bet for returning the highest income from your deposits alongside convenient access to your funds.

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 in comparison to the national average. Its CDs feature a rate of 1.26% and 2.02% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.25%. Given its poor savings rate, you should think about opting for higher earning savings accounts with other banks.

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 typically low fees in comparison to the average U.S. bank. Texas First State Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a hassle-free account. For those who will need cash in a pinch, Texas First State Bank is less than great because it has an out-of-network ATM fee of $3.00, which is less than the best option as compared against the national average. Also, Texas First State Bank has an overdraft fee of $30.00, which is considerably lower than the national average. Texas First State Bank unfortunately doesn't refund out-of-network ATM fees, which means you'll have to find a Texas First State Bank ATM or accept 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. It also offers access to mobile and web apps for a straightforward mobile-banking experience. You can utilize Texas First State Bank's app to manage your finances by monitoring monthly statements, sending and receiving money as well as reaching support representatives. Texas First State Bank gets a superb 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 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 and has $410 million in assets as well as deposits totaling $377 million. Texas First State Bank has an excellent Texas Ratio of 0.25%, suggesting a minute probability 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: 1.26% 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 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. Texas First State Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Texas First State Bank Near Me

Texas First State Bank has six locations across the U.S.

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