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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

The First National Bank and Trust Company started in 1882 with its headquarters in Beloit, Wisconsin. It manages $1 billion in assets as well as deposits totaling $972 million, ranking it as a medium-size bank. The First National Bank and Trust Company lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With a score of 4 out of 5 stars, The First National Bank and Trust Company should be near the middle of the pack in your search for a bank. The First National Bank and Trust Company has a varied choice of product offerings, which include 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 product features a monthly fee of $3.00, which is not too high in comparison to the national average. Finding a checking account with no monthly fee as well as a savings account with a high APY at the same institution is the best bet for accruing the most income from your deposits while maintaining convenient access to your money.

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 compared 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 has a rate of 0.05%. Given its poor savings rate, you should think about taking a look at other banks for 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

The First National Bank and Trust Company has typically low fees compared to the average U.S. bank. Its checking account has a monthly fee of $3.00, which makes it slightly worse for anyone looking for a simple account. For those who will need cash in a pinch, it is perfect because it charges no out-of-network ATM fees. The First National Bank and Trust Company unfortunately doesn't reimburse out-of-network ATM fees, which means you'll have to locate a The First National Bank and Trust Company ATM or eat 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. It also offers access to mobile and web apps for simple access and banking on the go. It does not have all-day customer service with 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 receive fair feedback from customers. With 130 customer reviews across both Apple and Android platforms, the The First National Bank and Trust Company mobile app rates a 3.7 out of 5 (compared to the national average of 3.8). The First National Bank and Trust Company's mobile app allows you to control your bank accounts by reviewing current statements, transferring money as well as accessing customer service. The First National Bank and Trust Company receives an exceptional consumer satisfaction rating based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 with $1 billion in assets as well as deposits totaling $972 million. The First National Bank and Trust Company's Texas Ratio is 2.09%, suggesting a low likelihood 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 compared 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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