First National Bank of America


Overview / Commentary
517-351-3622
241 East Saginaw
East Lansing, MI 48823

First National Bank of America is headquartered in East Lansing and is the 5th largest bank in the state of Michigan. It is also the 323rd largest bank in the nation. It was established in 1955 and as of June of 2022, it had grown to 350 employees at 3 locations. First National Bank of America's CD rates are 4X the national average, and it has a B health rating.

Related Posts

First National Bank of America Ups 12-Month CD Rate - 7/18/2022

First National Bank of America has increases all its nationally available CD rates, with the 12-23 CD offering the most competitive rate. $1k min/$1m max deposit.

First National Bank Of America Raises CD Rates - 6/7 Year CD's Are National Rate Leaders - 6/18/2022

Availability - Nationwide First National Bank of America (FNBA) raised rates on most of its CD's this week. Most of the increases seem to be roughly 20 bps and are not particularly aggressive. However, the 6-year (3.05% APY) and 7-year (3.10% APY) CD offers surpass PenFed to become the national leaders in the 6+ Year CD category. Also available as an IRA rate with these limitations according to their web site, "High IRA rates – Same as our CDs (IRA CDs have a minimum term of 12 months and may only be opened in person by visiting one of our branch locations)" Details here https://www.fnba.com/online-banking/online-cd-rates/

First National Bank Of America Increases All CD Rates - 4/21/2022

First National Bank of America has increases all its nationally available CD rates, with the 12-23 and 24-35 month CDs offering the most competitive rates.

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Opening IRA CD In-Person Only

Great rate. On-line application did not ask whether this was regular or IRA CD.
I called and was pleasantly surprised to have Elana pick up instantly. NO LONG TELEPHONE QUEUE!! I was disappointed to learn FNBA could not open an IRA
CD on-line. Five stars for rates and customer service anyway.

AMAZING SERVICE

We worked with Kassandra B. and she went ABOVE and BEYOND to help us purchase our home! She was on top of everything, communicated with us and answered any and all questions we had! She spoke TO us and helped us to understand everything! We had a VERY positive experience with everyone we dealt with at the bank! I would HIGHLY recommend them! :)

What I Wish I Knew Sooner About FNBA

ORIGINAL REVIEW: FNBA offers very competitive rates on CDs. Cool! Great! BUT, what I didn't know was that they're making it up - unsurprisingly - with super-high fees elsewhere. In my case, the shock happened when I needed to terminate a CD early; the penalty was 540 days worth of interest, and if the account hasn't been open 540 days, it's taken from the original deposit. FYI most CDs charge a 6-month interest penalty for early withdrawal.

UPDATE: Everything I said previously is true, but I have since had a lot of interaction with FNBA, and it revealed a level of customer service that my own primary bank (Ally) simply does not have. I appreciate it and am upgrading my rating accordingly.

Excelent Service

well I I'm very happy with FNBA their service was awesome , I live in California and I thought will be hard but no. It was less then I expected, not only that but they had sense of humor they were not stressed . And thank you guys. .. in case someone in spanish
excelente el Personal fue muy amable. yo estube buscando prestamo para una casa pero los bancos no me daban !asta que encontre a FNBA estoy muy satisfecho con ellos . actualmente vivo en California y esto no fue un problema para aser el prestama
THE BEST EDY

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Health

Health Grade Components

Overall
FDIC Certificate #17438
Year Established1955
Employees350
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD3.48%
Return on Equity - YTD39.9%
Annual Interest Income$127.0MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$3.82B$3.06B
LoansQ2 2022vs Q2 2021$3.52B$2.81B
DepositsQ2 2022vs Q2 2021$2.40B$2.01B
Equity CapitalQ2 2022vs Q2 2021$314.7MM$327.1MM
Loan Loss AllowanceQ2 2022vs Q2 2021$37.6MM$32.6MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$49.9MM$47.7MM
Real Estate OwnedQ2 2022vs Q2 2021$3.6MM$4.3MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not First National Bank of America; 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.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

First National Bank of America Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$100-Statement Savings

First National Bank of America Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%*$250k*-HomeTowne Money Market Checking
OTHER TIERS: 0.60% Up to $100k | 0.75% $100k - $250k
0.50%*$250k*-Business Money Market Savings
OTHER TIERS: 0.40% Up to $50k | 0.45% $50k - $250k

First National Bank of America CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.60%$1k$1m84 Month CD
3.57%$1k$1m72 Month CD
3.55%$1k$1m60 Month CD
3.45%$1k$1m48-59 Month CD
3.40%$1k$1m36-47 Month CD
3.30%$1k$1m24-35 Month CD
3.25%$1k$1m12-23 Month CD
1.75%$1k$1m6-11 Month CD
1.00%$1k$1m1-5 Month CD

First National Bank of America IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.55%$1k$1m60 Month IRA
3.45%$1k$1m48-59 Month IRA CD
3.40%$1k$1m36-47 Month IRA CD
3.30%$1k$1m24-35 Month IRA CD
3.25%$1k$1m12-23 Month IRA CD
Locations


First National Bank of America Locations
First National Bank Of America241 E Saginaw StEast Lansing, MI 48823
Traverse City Branch315 N. DivisionTraverse City, MI 49684
Branch Office4660 Kalamazoo Ave, SEGrand Rapids, MI 49508

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