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First National Bank of America


Overview / Commentary
www.fnba.com
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 5X 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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Reviews (49)

Cd Purchase

Posted by: |

Just bought a cd at this bank online was extremely easy to fill out the online form and afterwards was just as easy to join online banking everything went very smoothly and was one of the easiest banks to do this online in my 25 plus years of buying a cd online, so far so good with this bank.....

1

What I Wish I Knew Sooner About FNBA

Posted by: |

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.

6

New Process

Posted by: |

I had completed a recent transaction with this bank and they sent me a confirmation to my gmail account without security. The confirmation had routing number, account number and transaction details of both of my accounts for the ACH. In my opinion, this was not a safe way of handling confidential data so I wrote to them about this.

I was contacted by a rep from the bank shortly there after and we discussed the matter. They decided to change their process to better protect client data. I appreciate the fact that were willing to listen and adjust their process based on our discussion.

4

Impossible To Buy A Cd

Posted by: |

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

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Health
B

Data as of Q2 2022

Learn why bank health matters

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
1.00%*†$250k*-HomeTowne Money Market Checking
OTHER TIERS: 0.70% → Up to $100k | 0.85% → $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
4.50%†$1k$1m84 Month CD
4.40%†$1k$1m12-23 Month CD
4.40%†$1k$1m24-35 Month CD
4.40%†$1k$1m36-47 Month CD
4.40%†$1k-12 Month CD Special
4.40%†$1k$1m72 Month CD
4.35%†$1k$1m48-59 Month CD
4.35%†$1k$1m60 Month CD
3.05%†$1k$1m6-11 Month CD
2.30%†$1k$1m1-5 Month CD

First National Bank of America IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.40%†$1k$1m12-23 Month IRA CD
4.40%†$1k$1m24-35 Month IRA CD
4.40%†$1k$1m36-47 Month IRA CD
4.40%†$1k-12 Month IRA Special
4.35%†$1k$1m48-59 Month IRA CD
4.35%†$1k$1m60 Month IRA
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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