First National Bank of America is headquartered in EAST LANSING and is the largest bank in the state of Michigan. It is also the 245th largest bank in the nation. It was established in 1955 and as of June of 2024, it had grown to 362 employees at 3 locations. First National Bank of America's money market rates are 8X the national average, and it has a B+ health rating.
Related Posts
6/18 - First National Bank Of America Raises CD Rates - 6/7 Year CD's Are National Rate Leaders
4/21 - First National Bank Of America Increases All CD Rates
1/29 - First National Bank of America CDs Still Available Nationwide
8/24 - First National Bank of America's Long-Term CDs Still Rate Leaders
8/8 - FNBA Reduces Rates
7/11 - First National Bank Of America Reduces Several CD Rates
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
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I couldn't get over the SHORT time it took to open a CD!!!I'm used to jumping through hoops with other bank's changing demands for ID. I have a CD maturing tomorrow, guess where it's going?
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Just opened a CD.
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Customer service is awesome, polite, friendly, helpful, and professional.
Beware Of How Interest Is Compounded At This Bank
Interest is paid (credited) and compounded monthly, except for Regular Savings which is paid (credited) and compounded quarterly. Certificates of Deposit interest is compounded every 6 months. All interest bearing accounts are variable rate accounts.
If interest is compounded every 6 months on a CD versus monthly, you will get less interest than a bank at the same APY that compounds monthly.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 17438 |
| Year Established | 1955 |
| Employees | 362 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.9% |
| Return on Equity - YTD | 34.41% |
| Annual Interest Income | $236.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $5.97B$4.96B |
| Loans | Q2 2024vs Q2 2023 | $5.44B$4.56B |
| Deposits | Q2 2024vs Q2 2023 | $3.55B$2.96B |
| Equity Capital | Q2 2024vs Q2 2023 | $517.6MM$421.9MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $60.7MM$50.6MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $72.9MM$56MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $3.9MM$3.9MM |