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The First National Bank and Trust Company Review

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The First National Bank and Trust Company Savings
0.02% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1882, The First National Bank and Trust Company has assets totaling $1 billion as well as $972 million in deposits, classifying it as a medium-size bank. The First National Bank and Trust Company, whose headquarters are in Beloit, Wisconsin, 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. Overall, The First National Bank and Trust Company is a good bank that gets the job done, with a score of 4.0 out of 5 stars from our experts. The First National Bank and Trust Company provides customers with a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account carries a monthly fee of $3.00, which is acceptable compared to other U.S. banks. Institutions that offer no-fee checking, in addition to a high savings APY are the best option for gaining the most income on your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

With a savings rate of 0.02%, The First National Bank and Trust Company ranks poorly in comparison to the average U.S. bank. Its one-year CD earns at a rate of 0.26% and the five-year CD earns at a rate of 1.24%, while its highest-yielding money market account earns at a rate of 0.05%. Given The First National Bank and Trust Company's noncompetitive savings rate, you should think about looking at the competition to open savings accounts.

How The First National Bank and Trust Company's Savings Rates Compare

The First National Bank and Trust Company Savings 0.02 National Average 0.26 Compare Offers
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Fees

4.3
SmartAsset Average: 4.4

On average, The First National Bank and Trust Company charges its customers low fees in comparison to the average U.S. bank. The First National Bank and Trust Company's checking account has a monthly fee of $3.00, rating it slightly worse for anyone looking for a hassle-free account. For those who will need cash in a pinch, it is perfect because it has no out-of-network ATM fees. The First National Bank and Trust Company unfortunately doesn't reimburse out-of-network ATM fees, meaning you'll have to find a The First National Bank and Trust Company ATM or pay the withdrawal fee.

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

3.8
SmartAsset Average: 3.7

The First National Bank and Trust Company is a brick-and-mortar bank, with 17 total branches in Illinois and Wisconsin. With mobile and web apps, The First National Bank and Trust Company makes mobile banking convenient, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 7:30 a.m. to 6:00 p.m. CT; Saturday and Sunday, and 7:30 a.m. to 12:00 p.m. CT. The First National Bank and Trust Company's online and mobile banking platforms get fair marks from customers. With 130 ratings across Apple and Android platforms, the The First National Bank and Trust Company mobile app is scored at 3.7 out of 5 (compared to the national average of 3.8). The First National Bank and Trust Company's mobile app lets you manage your accounts by looking at account balances, transferring funds as well as reaching support representatives. The First National Bank and Trust Company receives an outstanding consumer satisfaction score due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

The First National Bank and Trust Company ranks as a medium-size bank and handles $1 billion in assets and deposits totaling $972 million. The First National Bank and Trust Company has an excellent Texas Ratio of 2.09%, signifying a minute chance of failure. Additionally, The First National Bank and Trust Company 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 The First National Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.02% APY $1
Certificates of Deposit
  • 12 Month: 0.26% APY
  • 24 Month: 0.43% APY
  • 36 Month: 0.69% APY
  • 48 Month: 0.75% APY
  • 60 Month: 1.24% APY
$1000 for all terms
Money Market Account 0.05% APY $7500

The First National Bank and Trust Company has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. The First National Bank and Trust Company does not have the best savings rate, which means you should consider taking a look 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. The First National Bank and Trust Company's CD rates are fair in comparison to other U.S. banks.

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Find a The First National Bank and Trust Company Near Me

The First National Bank and Trust Company has 17 branches across the U.S.

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