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The First National Bank of Long Island Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
The First National Bank of Long Island Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The First National Bank of Long Island first started operating in 1927 with headquarters located in Glen Head, New York. The First National Bank of Long Island manages assets of $4 billion along with $3 billion in deposits, which makes it a large bank. The First National Bank of Long Island lacks premium access to support representatives, with no options for live chat or all-day service. 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. On the whole, The First National Bank of Long Island is a solid pick to be your bank, with a score of 4.2 out of 5 stars from our team. The First National Bank of Long Island has numerous product offerings, including savings accounts, checking accounts, money market accounts, IRAs and mortgage products. The First National Bank of Long Island has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's standard checking does not have a monthly maintenance charge. Institutions that offer free checking as well as a high interest rate savings account are your best bet for returning the most income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.2/5
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 0.15%, The First National Bank of Long Island ranks poorly in comparison to the national average. Its CDs feature a rate of 1.98% and 3.12% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.68%. Given The First National Bank of Long Island's noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.

How The First National Bank of Long Island's Savings Rates Compare

The First National Bank of Long Island Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, The First National Bank of Long Island charges customers extremely low fees in comparison to other U.S. banks. With no monthly fee, The First National Bank of Long Island's checking account is ideal for those who want an easy banking experience. The First National Bank of Long Island doesn't reimburse out-of-network ATM fees, which means you will have to search for a The First National Bank of Long Island ATM or accept the cost of withdrawal.

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

4.1
SmartAsset Average: 3.7

The First National Bank of Long Island is a brick-and-mortar bank, with 52 total branches in New York. It also offers access to mobile and web apps for a straightforward mobile-banking experience. 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 and 9:00 a.m. to 5:00 p.m. ET. The First National Bank of Long Island's online and mobile banking services get fairly high marks from customers. Out of 5 ratings on iOS and Android platforms, the The First National Bank of Long Island mobile app is scored at 4.2 out of 5 (compared to the national average of 3.8). The First National Bank of Long Island's mobile app lets you control your bank accounts by looking at current statements, transferring money and accessing customer service. The First National Bank of Long Island gets a superb consumer satisfaction rating based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.2/5
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

The First National Bank of Long Island is currently a large bank and manages assets totaling $4 billion and $3 billion in deposits. The First National Bank of Long Island's Texas Ratio is 1.58%, suggesting that The First National Bank of Long Island is in superb financial shape and unlikely to fail. Additionally, The First National Bank of Long Island 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 of Long Island to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Checking Account 0.003% APY $2500
Certificates of Deposit
  • 12 Month: 1.98% APY
  • 24 Month: 2.22% APY
  • 36 Month: 2.62% APY
  • 48 Month: 2.92% APY
  • 60 Month: 3.12% APY
$10000 for all terms
Money Market Accounts 0.3% APY 0.68% APY $10000 $15000

The First National Bank of Long Island has several deposit products including savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. The First National Bank of Long Island does not have the best savings rate, which means you should consider 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 First National Bank of Long Island's CD rates are fair in comparison to the average U.S. bank.

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Find a The First National Bank of Long Island Near Me

The First National Bank of Long Island has 52 physical branches in the U.S.

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