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 358th largest bank in the nation. It was established in 1955 and as of December of 2019, it had grown to 320 employees at 3 locations. First National Bank of America's money market rates are 36% higher than the national average, and it has a B+ health rating.
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8/24 - First National Bank of America's Long-Term CDs Still Rate Leaders
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6/12 - Lower Rate On 60 Month Cd
5/17 - Cd Rate Drop On One And Five Year Cd
4/24 - First National Bank of America Leads With 60-Month CD, 3.35% APY
4/4 - #1 APY's For CD's Available Nationwide With Terms Of 36 Months Or Longer
PPP Loan For A Small Business. A Bank That Cares.
Jodi Harrand was instrumental in helping me get my PPP loan application started. After hearing of my woes with other banks prioritizing their larger clients, Jodi put me in touch with their loan manager, Scott Raymond. I was able to speak with him over the phone, get the necessary info to him and I had my loan money in a matter of 10 days. Thank you First National for your personal service and care during these times.
Kassandra And Renee Are Angels On Earth
I began my cash out for my manufactured home before the Covid-19 lock down. Once it hit, I knew that my loan process would collapse right along with the economy. But Kassandra at FNBA stayed the course with me and made sure that everything that the underwriters were asking for, we aware able to provide. Once we got into the final phase Renee joined the group and the two of them were relentless in their pursuit to make sure my loan closed and closed quickly. They were professional, efficient and hardworking despite the obstacles they faced while working from home with the limited resources compared to working from their offices at the bank. I can't say enough about these ladies and how they made a tough situation, much easier because I felt like they cared and wanted to make sure I finished what I set out to do.
A Bank With Heart
With the most competitive CD rates around, I decided to begin building a CD ladder. A savings or checking account with FNBA is not required. Initially, it takes a few minutes to enter all of the required information, but all of the information is saved so there is no need to enter the information when adding a new CD. They do not offer online access to track balances, but statements are sent quarterly in the mail. Because First National Bank of America is a smaller bank, you are not treated like a statistic. Instead, there is a human component that many banks seem to lack. Also, upon request, you will receive an actual certificate in the mail. If you have questions or concerns, expect a speedy response. In time, it would be great to have online access to make tracking the progress of my ladder more convenient, but not having the online access is not a deal breaker.
Impossible To Buy A Cd
Just spent half a day sifting through various banks with reasonable qualifications & decided to give 1FBA a whack. So whilst laboring thu the CD application process I got mostly thru but they "timed "me out while in the midst of answering all the Qs. Then had the gall to tell me to start over.. This is the sixth bank attempted today. You would think the banks are trying to avoid our money
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 17438 |
| Year Established | 1955 |
| Employees | 320 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.54% |
| Return on Equity - YTD | 28.22% |
| Annual Interest Income | $163.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $2.49B$1.80B |
| Loans | Q4 2019vs Q4 2018 | $2.28B$1.64B |
| Deposits | Q4 2019vs Q4 2018 | $1.61B$1.13B |
| Equity Capital | Q4 2019vs Q4 2018 | $228.2MM$156.7MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $26.6MM$20.3MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $40.7MM$42.5MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $7.3MM$4.8MM |