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 2X 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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Professional

I'm in the process of creating a CD Ladder. I very much appreciate Ms. Susan Glass's professionalism and helpfulness. It has made my banking experience with First National Bank of America, a pleasure.

Great Interest Rates And Great Sfaff To Do Business With.

Posted by: |

My 90 year old parents have accounts at this bank and when my father died my mother had to change names on their accounts, which was not easy since she can not drive due to blindness in one eye. Doug at the Grand Rapids branch made it really easy for my mother to make all the changes she needed via mail.

I have an IRA account at this bank and when my wife and I decided to put most of our assets in a trust account I contacted Doug regarding setting things up. Since we don't live in Grand Rapids Doug and I conversed via email and though the US Mail. Again a very super easy bank to deal with. The added plus is that their deposit rates beat everyone else in the markets they serve. I would recommend this bank to anyone. This is a family owned bank, which is uncommon these days, maybe that is why they are so customer friendly.

Good Bank Overall

Posted by: |

Just opened an online CD here (got it done a day before rates dropped...whew).

I have to say I was a little concerned because earlier negative reviews had me worried especially about the application process but it was one of the quickest/simplest I have opened and I've opened many (maybe over 100) over the years. I did have an image of my ID ready as well as anything else I would need, might have taken me 15 minutes and within 48 hours I was able to login and the CD was there although the funding took a few days.

Mentioned the reviews to them and they said they did have some minor issues with application process that they now worked out and also said they will be moving to a slightly different process in the near future.

Customer service was excellent as well so don't worry about the signup, it's fine.

A Bank With Heart

Posted by: |

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.

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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
0.25%$100-Statement Savings

First National Bank of America Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$100k*$5mHomeTowne Money Market Checking
OTHER TIERS: 0.70% Up to $50k | 0.80% $50k - $100k
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

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
2.00%$1k-84 Month CD
1.95%$1k-72 Month CD
1.90%$1k-60 Month CD
1.85%$1k-48-59 Month CD
1.85%$1k-60 Month Flex CD
1.80%$1k-36-47 Month CD
1.80%$1k-48 Month Flex CD
1.75%$1k-24-35 Month CD
1.75%$1k-36 Month Flex CD
1.55%$1k-12-23 Month CD
1.25%$1k-6-11 Month CD
0.90%$1k-1-5 Month CD

First National Bank of America IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.90%$1k-60 Month IRA
1.85%$1k-48-59 Month IRA CD
1.80%$1k-36-47 Month IRA CD
1.75%$1k-24-35 Month IRA CD
1.55%$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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