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 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.

Related Posts

First National Bank of America 12-Month CD Offers 2.45% APY - 10/7/2019

First National Bank of America is currently offer 2.45% APY on its nationally available 12-23 month CD. Minimum opening deposit is $1k, with no stated balance cap.

First National Bank of America's Long-Term CDs Still Rate Leaders - 8/24/2019

First National Bank of America's nationally available long-term CDs are still rate leaders: 84-month (2.95% APY) and 72-month (2.90% APY). $1k minimum deposit.

FNBA Reduces Rates - 8/8/2019

According to an email I received, FNBA reduced their CD rates as of 10am, August 7. For example the APY on the 84 month CD went from3.00% down to 2.95%

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PPP Loan For A Small Business. A Bank That Cares.

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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

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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

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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

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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+

Health Grade Components

Overall
FDIC Certificate #17438
Year Established1955
Employees320
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD2.54%
Return on Equity - YTD28.22%
Annual Interest Income$163.6MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$2.49B$1.80B
LoansQ4 2019vs Q4 2018$2.28B$1.64B
DepositsQ4 2019vs Q4 2018$1.61B$1.13B
Equity CapitalQ4 2019vs Q4 2018$228.2MM$156.7MM
Loan Loss AllowanceQ4 2019vs Q4 2018$26.6MM$20.3MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$40.7MM$42.5MM
Real Estate OwnedQ4 2019vs Q4 2018$7.3MM$4.8MM
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
0.20%$100-Statement Savings

First National Bank of America Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$1m*-HomeTowne Money Market Checking
OTHER TIERS: 0.35% Up to $100k | 0.40% $100k - $250k | 0.50% $250k - $10m
0.50%*$250k*-Business Money Market Savings
OTHER TIERS: 0.05% Up to $1k | 0.25% $1k - $20k | 0.35% $20k - $50k | 0.40% $50k - $100k | 0.45% $100k - $250k

First National Bank of America Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%$1k-84 Month CD
1.45%$1k-72 Month CD
1.40%$1k-60 Month CD
1.35%$1k-60 Month Flex CD
1.30%$1k-48-59 Month CD
1.25%$1k-48 Month Flex CD
1.20%$1k-36-47 Month CD
1.15%$1k-36 Month Flex CD
1.10%$1k-24-35 Month CD
1.05%$1k-12-23 Month CD
0.35%$1k-1-5 Month CD
0.35%$1k-6-11 Month CD

First National Bank of America IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.40%$1k-60 Month IRA
1.30%$1k-48-59 Month IRA CD
1.20%$1k-36-47 Month IRA CD
1.10%$1k-24-35 Month IRA CD
1.05%$1k-12-23 Month IRA CD
Locations


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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