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809 Clark Street
Charles City, IA 50616

First Security Bank & Trust is headquartered in Charles City and is the 31st largest bank in the state of Iowa. It is also the 1,457th largest bank in the nation. It was established in 1903 and as of March of 2014, it had grown to 120 employees at 14 locations. First Security Bank & Trust's savings rates are 2X the national average, and it has a A health rating.

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Reviews (6)


First Security is the lender of one of our neighbors large dairy farm here in Butler County. This is the second Dutch family to call this farm home in four years, previous one lasted about two years. They have left Iowa heartbroken and penniless after a less than supportive role by the bank and returned to Holland. We were blessed with a new neighbor with many years of dairying, who took over the dairy and really cleaned up the mess left behind after the bank shut out our former neighbor. Unfortunately recently I found out from another neighbor that the dairy had undergone a horrible loss to stray voltage. Only to find out they had insurance for this loss that Farm Bureau Insurance has refused even a penny of their losses, they have filed a lawsuit but like most of us who have been involved with insurance companies they fight you to the end hoping you give up or die first, hopefully our congressional people and the insurance commision are on top of this one. However we've learned the story only gets worse the bank has not helped the dairy with one loan to recover and get back in operation at a capacity that will allow them to stay in our community. I fear our state will be labeled like Ohio were they broke ten plus Dutch families of their life savings and hardwork for the gain of a few. Our community has lost so many farms that have beautiful milk cows roaming next to the road, shame on our local bankers to disrespect our community with such a lack of action.

I Terminated My Application For An Account With This Bank Because I Have Only Received A Single

I terminated my application for an account with this bank because I have only received a single automated response to my initial application on March 23, 2010.  Since that date, I have not received ANY communications from the bank.  If they cannot address an application within 12 days, how long will it take to resolve any serious issues?  Not a good sign, so I am outta here.  First Security isn't worth my time or worthy of my money.

Bank Closing All Non-Local Reward Checking Accounts On October, 7 2010

I received a secure Email from this bank notifiying me that my reward checking account would be closed on October 7, 2010, only because I do not reside in IA or MN.  According to the bank, under the terms of this account, they have the right to close accounts for any reason. Frankly, I think that this is a bad decision by management.  Not only did this bank advertise and recruit out-of-state depositors for their reward checking program up til a few months ago,  but they made applicants jump through several administrative hoops to open and maintain this type of account.  I would have expected this kind of business decision from a Chase or CitiBank, but not from a smaller bank. Perhaps they are trying to preserve the 4.01% APY interest on this account, but this was a poor way in which to go about that goal.  I have been banking all over the USA for over 50 years, and this is the very first time that a bank decided they did not want my business and closed my account.  SHAME ON FIRST SECURITY BANK & TRUST in CHARLES CITY, IOWA.

I Just Checked The Website And It Says IA And MN Residents Only For The High Yield Account

I just checked the website and it says IA and MN residents only for the high yield account.

No Problems So Far ...

Everything seems very professional. You get responses to email and bank mail, and the website interface is user friendly. Hope the rate remains competitive with the other high yield reward accounts in Iowa.

I Submitted An Online Request For The High Interest Account And Was Called Back The Next Day

i submitted an online request for the high interest account and was called back the next day. the woman who helped me was very effective and i was up and running in less than 2 weeks. the process includes getting a notary to sign your account set-up which is to be expected. the only negative aspect i've seen is that i cannot do an ETF to my other accounts at other banks. This should really be fixed but it isn't a killer.


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First Security Bank & Trust had $2.86 million in non-current loans and owned real-estate with $53.91 million in equity and loan loss allowances on hand to cover it. This gives First Security Bank & Trust a Texas Ratio of 5.30% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for First Security Bank & Trust decreased slightly from 6.53% as of March 31, 2013 to 5.30% as of March 31, 2014, resulting in a positive change of 18.91%.This indicates that the balance sheet and financial strength for First Security Bank & Trust has improved slightly in recent periods.

Deposit Growth


In the past year, First Security Bank & Trust has increased its total deposits by $1.85 million, resulting in 0.5% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Security Bank & Trust has shown is above average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Security Bank & Trust has $463.78 million in assets with $53.91 million in equity, resulting in a capitalization level of 11.62%, which is excellent.

Institution Statistics

FDIC Certificate #1852
Year Established1903
Primary RegulatorFDIC
Assets and Liabilities
Assets$463.79 million
Loans$286.71 million
Deposits$372.41 million
Equity Capital$49.20 million
Loan Loss Allowance$4.71 million
Unbacked Noncurrent Loans$2.74 million
Real Estate Owned$112,000
Historic Data - March 2013
Assets$454.73 million
Equity Capital$50.16 million
Loan Loss Allowance$4.44 million
Unbacked Noncurrent Loans$2.74 million
Real Estate Owned$45,000
Profit Margin - Quarterly
Net Interest Margin3.83%
Return on Assets1.19%
Return on Equity11.27%
Interest Income$4.70 million
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First Security Bank & Trust Savings Account Rates

1.23%-$10kKasasa Saver - Qualifying
0.25%$100k-Regular Savings
0.20%$100k-Premier Savings
0.05%--Kasasa Saver - Non Qualifying

First Security Bank & Trust Checking Account Rates

0.15%$100k-Interest Checking

First Security Bank & Trust CD Rates

1.15%$2,500-60 Month CD
0.95%$2,500-48 - 59 Month CD
0.75%$2,500-36 - 47 Month CD
0.50%$2,500-24 - 35 Month CD
0.27%$2,500-12 - 23 Month CD
0.14%$2,500-6 - 11 Month CD
0.05%$2,500-3 - 5 Month CD

First Security Bank & Trust IRA Rates

1.15%$2,500-60 Month IRA
0.95%$2,500-48 - 59 Month IRA
0.75%$2,500-36 - 47 Month IRA
0.50%$2,500-24 - 35 Month IRA
0.27%$2,500-12 - 23 Month IRA
0.14%$2,500-6 - 11 Month IRA
0.05%$2,500-3 - 5 Month IRA

First Security Bank & Trust has 14 locations. Click to view all First Security Bank & Trust locations.