The Bank of Fayette County Review

Overview

Established in 1905, The Bank of Fayette County has assets totaling $552 million and $453 million in deposits, classifying it as a medium-size bank. The Bank of Fayette County, whose headquarters are in Piperton, Tennessee, 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 apps. On the whole, The Bank of Fayette County is a bank with better alternatives, with a rating of 3.7 out of 5 stars from our experts. The Bank of Fayette County has a complete selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. The Bank of Fayette County has a fair savings rate; other popular banks have higher rates. Finding a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best option for getting the most income on your deposits while maintaining convenient access to your money.

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

The Bank of Fayette County features a savings rate of 0.25%, which is poor in comparison to the national average. Its one-year CD earns at a rate of 1.00% and the five-year CD has a rate of 2.25%, while its highest-yielding money market account has an APY of 0.25%. Given The Bank of Fayette County's poor savings rate, you should consider choosing another bank to earn more on your deposits.

How The Bank of Fayette County's Savings Rates Compare

There is insufficient data on The Bank of Fayette County's fees to provide a full SmartAsset rating.

The Bank of Fayette County is a brick-and-mortar bank, with 11 total bank locations in Tennessee. It also offers access to a web app, for a simple online-banking experience. The Bank of Fayette County gets a superb consumer satisfaction rating based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

The Bank of Fayette County is a medium-size bank and has $552 million in assets as well as deposits totaling $453 million. The Bank of Fayette County has an excellent Texas Ratio of 4.75%, signifying that the bank is in terrific financial health and improbable to fail. Additionally, The Bank of Fayette County 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.

Products Offered

The Bank of Fayette County offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. The Bank of Fayette County 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. The Bank of Fayette County's CD rates are fair in comparison to the average U.S. bank.

Find a The Bank of Fayette County Near Me

The Bank of Fayette County has 11 physical branches in the U.S.