Overview / Commentary
241 East Saginaw
East Lansing, MI 48823

First National Bank of America is headquartered in East Lansing and is the 9th largest bank in the state of Michigan. It is also the 522nd largest bank in the nation. It was established in 1955 and as of June of 2018, it had grown to 311 employees at 3 locations. First National Bank of America's money market rates are 3X the national average, and it has a B health rating.

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12-Month CD, 1.65% APY - 11/30/2017

Nationally available 12-month CD, 1.65% APY. $1,000 minimum deposit.

Reviews (2)

Wonderful Mortage Company

Posted by: Anonymous | Aug 20, 2012

My husband and I bought our mobile home and land through this bank. They've always worked with us. We have a really high interest rate but, we are working on getting that lowered. When my husband was out of work for a layoff they were always so nice! They worked with me to try and keep the mortgage paid! Wonderful wonderful! It's good to have someone who understands and works with you! Thanks for you help!

Commercial Mortgage

Seven years ago I was renting a building for my business with the intention of buying it from the owner. Our rent payments were always timely and I thought nothing of investing 40k in reconstruction to support the business we were doing.
One morning I arrived to find a 'notice to quit' tacked to the door. The long story short being the owner took my money but failed to pay the bank and we were never notified of the pending foreclosure until that day.
We tried working with FNBA to purchase the building at the fair market rate but that was not to be.
Taking full advantage of our lack of leverage they forced a closing less than 60 days later for the full amount owed by the prior owner plus penalties and interest, well in excess of what should have been paid. To further add insult to injury, FNBA assessed an 11% APR due to the fact that the company had no "credit history" that they found acceptable, primarily because I did not use credit to operate the business nor did I have so much as a credit card in the name of the company. Now we are nearly half way through the 15 year mortgage with no missed or late payments and they will not even discuss a refinancing of the buildings in spite of our considerable equity in them. The representative I contacted rudely announced that they "we're not going to refinance that property" When I asked for an explanation the reply was simply "we're not going to do that." I asked him one more question which only seemed to annoy him further to which he replied, "I'll call you, back." Naturally, he never did. We are now seeking a commercial re-fi through other banks and will likely close this year at the low end of the commercial lending rate.
So, instead of getting a fair interest rate for the duration of the mortgage, they will simply get 100% of nothing. FNBA seemingly has no further interest in the customer than to line their pockets and has no sense of doing what is right. The sooner we can be rid of them, the better.


Health Grade Components

FDIC Certificate #17438
Year Established1955
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD2.77%
Return on Equity - YTD30.55%
Annual Interest Income$57.4MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$1.57B$1.24B
LoansQ2 2018vs Q2 2017$1.42B$1.12B
DepositsQ2 2018vs Q2 2017$1.05B$960.5MM
Equity CapitalQ2 2018vs Q2 2017$141.0MM$119.1MM
Loan Loss AllowanceQ2 2018vs Q2 2017$17.6MM$14.8MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$42.7MM$37.9MM
Real Estate OwnedQ2 2018vs Q2 2017$4.6MM$5.6MM
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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

0.25%$100-Statement Savings

First National Bank of America Money Market Rates

1.16%*$250k*$5mHomeTowne Money Market Checking
OTHER TIERS: 0.65% Up to $20k | 0.70% $20k - $100k | 0.80% $100k - $250k
0.60%*$250k*-Business Money Market Savings
OTHER TIERS: 0.05% Up to $1k | 0.25% $1k - $20k | 0.35% $20k - $50k | 0.40% $50k - $100k | 0.50% $100k - $250k

First National Bank of America Checking Account Rates

0.20%*$1.5m*-Business Interest Checking
OTHER TIERS: 0.05% Up to $50k | 0.10% $50k - $150k | 0.15% $150k - $1.5m

First National Bank of America CD Rates

3.15%$1k-84 Month Time CD
3.10%$1k-60 Month Time CD
3.10%$1k-60 Month CD
3.00%$1k-60 Month Flex CD
2.75%$1k-48-59 Month Time CD
2.70%$1k-48 Month Flex Time CD
2.65%$1k-36-47 Month Time CD
2.65%$1k-36 Month CD
2.60%$1k-36 Month Flex Time CD
2.55%$1k-24-35 Month Time CD
2.35%$1k-13 Month CD Special
2.35%$1k-13 Month CD
2.05%$1k-12-23 Month Time CD
1.25%$1k-6-11 Month Time CD
0.75%$1k-1-5 Month Time CD

First National Bank of America IRA Rates

3.15%$1k-84 Month Time IRA CD
3.10%$1k-60 Month IRA Time CD
3.10%$1k-60 Month IRA
2.75%$1k-48-59 Month IRA Time CD
2.65%$1k-36-47 Month IRA Time CD
2.65%$1k-36 Month IRA
2.55%$1k-24-35 Month IRA Time CD
2.35%$1k-13 Month IRA Special
2.35%$1k-13 Month IRA
2.05%$1k-12-23 Month IRA Time CD

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

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