First Guaranty Bank
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 3.75% | 5-year CD | |
| 1.55% | 1-year CD | 2.65% - Barclays 12 Month Online CD |
| 0.05% | Savings | 2.00% - Ally Bank Online Savings Account |
First Guaranty Bank is headquartered in Hammond and is the 6th largest bank in the state of Louisiana. It is also the 473rd largest bank in the nation. It was established in 1934 and as of September of 2018, it had grown to 346 employees at 27 locations. First Guaranty Bank's CD rates are 72% higher than the national average, and it has an A health rating.
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this bank was good for general banking needs.
This bank is a local bank that my family use. There are no fees and the people actually know you by name. I banked with them as long as I could but this bank didn't even offer a debit card. They still don't today almost a year later. It's just a basic bank account where you can cash checks or have them go direct deposit, or you write checks. there are no ATMs or debit cards. I would still be banking with them if I could have stood trying to survive without a debit card. That's about as small town as it gets.
BEWARE OF INSANE EARLY PENALTY!
I got excited about their 3.00% 5-year CD rate that I went in and deposited a significant sum.
Weeks later, several other banks started offering higher rates and I went in to see if I could withdraw.
NORMALLY, with many CD's you only lose the interest you've earned on your deposit, or at worst you suffer a month or two worth of penalties.
But with First Guaranty Bank, they have an insane TWO YEAR penalty on early withdrawal.
It's so huge I would lose basically 6% of my deposit just to withdraw. That's right, not just lose interest but actually lose 6% of my deposit. That high interest rate because high profits for them if you have an emergency and want to withdraw, they penalize you at 2 years worth of those high interest rates!
I almost think they set it up as a scam whereby they hope old people put in their money and then have to withdraw early and lose all their interest and pay parts of their deposit.
By comparison, my Capital One CD has only a 3 month penalty, and most of the banks we have CDs at only take the interest never more than that, if you withdraw early.
So I am literally stuck there for 5 years, and in one or two years it's likely interest rates will be as high as 4% or 4.5.
Basically I made a big mistake and have to treat that money as if it was gone for the next 5 years. I made sure to tell them NOT to auto-renew, be sure to do that if you ever open here because then you'll NEVER see your money (unless they
I actually think their fees may be a violation of banking law and consumer protection, but do not have the time right now to take them to small claims over it and don't want to risk losing 6% of my deposit with no guarantee I'd get the fees back in small claims.
Data as of Q3 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 14028 |
| Year Established | 1934 |
| Employees | 346 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.01% |
| Return on Equity - YTD | 10.48% |
| Annual Interest Income | $57.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2018vs Q3 2017 | $1.75B$1.69B |
| Loans | Q3 2018vs Q3 2017 | $1.18B$1.10B |
| Deposits | Q3 2018vs Q3 2017 | $1.55B$1.50B |
| Equity Capital | Q3 2018vs Q3 2017 | $165.4MM$170.5MM |
| Loan Loss Allowance | Q3 2018vs Q3 2017 | $10.6MM$10.3MM |
| Unbacked Noncurrent Loans | Q3 2018vs Q3 2017 | $4.8MM$10.2MM |
| Real Estate Owned | Q3 2018vs Q3 2017 | $1.2MM$1.3MM |
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
First Guaranty 3.75% 5Yr New Money
https://www.fgb.net/our-cds-are-hard-to-top?utm_source=Fixed+Rates+CD&utm_campaign=Fixed+Rate+CD&utm_medium=email
Opening my last CD was straight forward in branch very quiet bank lol. You'll wanna double check but I believe interest was compounded daily credited quarterly and shorter terms were annually you'll want to double check
also have a ehh 2.6% 2yr that their advertising
Always verify rates and promotions with the bank or credit union. We are not First Guaranty Bank; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
First Guaranty Bank Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.30%* | $1m* | - | Health Savings Account | ||
| OTHER TIERS: 0.05% → Up to $1.5k | 0.07% → $1.5k - $100k | 0.12% → $100k - $1m | |||||
| 0.05% | $100 | - | Regular Savings | ||
| 0.05% | $100 | - | Business Savings | ||
| 0.05% | $5 | - | Christmas Club Savings | ||
First Guaranty Bank Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.35%* | $1m* | - | Guaranty Money Market | ||
| OTHER TIERS: 0.05% → $1.5k - $100k | 0.15% → $100k - $1m | |||||
| 0.35%* | $1m* | - | Business Guaranty Money Market | ||
| OTHER TIERS: 0.05% → $1.5k - $100k | 0.15% → $100k - $1m | |||||
First Guaranty Bank Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.00% | $5k | - | Advantage Checking Account | ||
| 0.30%* | $1m* | - | Sole Proprietor Now | ||
| OTHER TIERS: 0.05% → Up to $1.5k | 0.07% → $1.5k - $100k | 0.12% → $100k - $1m | |||||
| 0.30%* | $1m* | - | Non-Profit Now | ||
| OTHER TIERS: 0.05% → Up to $1.5k | 0.07% → $1.5k - $100k | 0.12% → $100k - $1m | |||||
First Guaranty Bank CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.75% | $500 | - | 5 Year CD Special - New Money | |
| 3.25% | $500 | - | 5 Year Variable Rate CD | |
| 3.10% | $500 | - | 40 Month Variable Rate CD | |
| 3.00% | $500 | - | 5 Year CD | |
| 3.00% | $500 | - | 6 Year CD | |
| 3.00% | $500 | - | 7 Year CD | |
| 3.00% | $500 | - | 8 Year CD | |
| 2.60% | $500 | - | 2 Year CD Special - New Money | |
| 2.35% | $500 | - | 4 Year CD | |
| 2.10% | $500 | - | 2 Year Variable Rate CD | |
| 2.05% | $500 | - | 3 Year CD | |
| 2.00% | $500 | - | 2 Year CD | |
| 1.85% | $500 | - | 18 Month CD | |
| 1.55% | $500 | - | 1 Year CD | |
| 0.30% | $500 | - | 6 Month CD | |
| 0.15% | $500 | - | 90 Day CD | |
| 0.10% | $500 | - | 30 Day CD |
First Guaranty Bank IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.25% | $500 | - | 5 Year Variable Rate IRA | |
| 3.10% | $500 | - | 40 Month Variable Rate IRA | |
| 3.00% | $500 | - | 5 Year IRA | |
| 3.00% | $500 | - | 6 Year IRA | |
| 3.00% | $500 | - | 7 Year IRA | |
| 3.00% | $500 | - | 8 Year IRA | |
| 2.37% | $500 | - | 1 Year Target IRA | |
| 2.35% | $500 | - | 4 Year IRA | |
| 2.10% | $500 | - | 2 Year Variable Rate IRA | |
| 2.05% | $500 | - | 3 Year IRA | |
| 2.00% | $500 | - | 2 Year IRA | |
| 1.85% | $500 | - | 18 Month IRA | |
| 1.55% | $500 | - | 1 Year IRA | |
| 0.30% | $500 | - | 6 Month IRA |
