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First Security Bank & Trust

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
1.05%Reward CheckingKasasa Cash
1.31%Reward SavingsKasasa Saver
1.49%5-year CD60 Month CD

Overview / Commentary
641-228-2343
809 Clark Street
Charles City, IA 50616

First Security Bank & Trust is headquartered in Charles City and is the 34th largest bank in the state of Iowa. It is also the 1,349th largest bank in the nation. It was established in 1903 and as of June of 2016, it had grown to 134 employees at 16 locations. First Security Bank & Trust has a B health rating.

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Reviews (6)

No Problems So Far ...

Posted by: rog | Jun 16, 2010

Everything seems very professional. You get responses to email and bank mail, and the website interface is user friendly. Hope the rate remains competitive with the other high yield reward accounts in Iowa.

I Submitted An Online Request For The High Interest Account And Was Called Back The Next Day

Posted by: Anonymous | May 11, 2010

i submitted an online request for the high interest account and was called back the next day. the woman who helped me was very effective and i was up and running in less than 2 weeks. the process includes getting a notary to sign your account set-up which is to be expected. the only negative aspect i've seen is that i cannot do an ETF to my other accounts at other banks. This should really be fixed but it isn't a killer.

I Just Checked The Website And It Says IA And MN Residents Only For The High Yield Account

Posted by: Anonymous | May 12, 2010

I just checked the website and it says IA and MN residents only for the high yield account.

BEWARE FIRST SECURITY BANK AND TRUST JUST LIKE TITANIC!!!!!!!!!!!!!

Posted by: turkey | Jun 26, 2011

First Security is the lender of one of our neighbors large dairy farm here in Butler County. This is the second Dutch family to call this farm home in four years, previous one lasted about two years. They have left Iowa heartbroken and penniless after a less than supportive role by the bank and returned to Holland. We were blessed with a new neighbor with many years of dairying, who took over the dairy and really cleaned up the mess left behind after the bank shut out our former neighbor. Unfortunately recently I found out from another neighbor that the dairy had undergone a horrible loss to stray voltage. Only to find out they had insurance for this loss that Farm Bureau Insurance has refused even a penny of their losses, they have filed a lawsuit but like most of us who have been involved with insurance companies they fight you to the end hoping you give up or die first, hopefully our congressional people and the insurance commision are on top of this one. However we've learned the story only gets worse the bank has not helped the dairy with one loan to recover and get back in operation at a capacity that will allow them to stay in our community. I fear our state will be labeled like Ohio were they broke ten plus Dutch families of their life savings and hardwork for the gain of a few. Our community has lost so many farms that have beautiful milk cows roaming next to the road, shame on our local bankers to disrespect our community with such a lack of action.

I Terminated My Application For An Account With This Bank Because I Have Only Received A Single

Posted by: Anonymous | Apr 4, 2010

I terminated my application for an account with this bank because I have only received a single automated response to my initial application on March 23, 2010.  Since that date, I have not received ANY communications from the bank.  If they cannot address an application within 12 days, how long will it take to resolve any serious issues?  Not a good sign, so I am outta here.  First Security isn't worth my time or worthy of my money.

Bank Closing All Non-Local Reward Checking Accounts On October, 7 2010

Posted by: Anonymous | Sep 7, 2010

I received a secure Email from this bank notifiying me that my reward checking account would be closed on October 7, 2010, only because I do not reside in IA or MN.  According to the bank, under the terms of this account, they have the right to close accounts for any reason. Frankly, I think that this is a bad decision by management.  Not only did this bank advertise and recruit out-of-state depositors for their reward checking program up til a few months ago,  but they made applicants jump through several administrative hoops to open and maintain this type of account.  I would have expected this kind of business decision from a Chase or CitiBank, but not from a smaller bank. Perhaps they are trying to preserve the 4.01% APY interest on this account, but this was a poor way in which to go about that goal.  I have been banking all over the USA for over 50 years, and this is the very first time that a bank decided they did not want my business and closed my account.  SHAME ON FIRST SECURITY BANK & TRUST in CHARLES CITY, IOWA.



Health
B

Health Grade Components

Overall
FDIC Certificate #1852
Year Established1903
Employees134
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.55%
Return on Equity - YTD5.25%
Annual Interest Income$10.2MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$515.9MM$447.0MM
LoansQ2 2016vs Q2 2015$325.4MM$301.1MM
DepositsQ2 2016vs Q2 2015$422.1MM$363.1MM
Equity CapitalQ2 2016vs Q2 2015$54.9MM$45.2MM
Loan Loss AllowanceQ2 2016vs Q2 2015$6.4MM$5.2MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$16.8MM$6.9MM
Real Estate OwnedQ2 2016vs Q2 2015$790.00K$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First Security Bank & Trust Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.31%*-$10kKasasa Saver
OTHER TIERS: 0.45% $50k+

First Security Bank & Trust Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.05%*-$15kKasasa Cash
OTHER TIERS: 0.20% $15k+
0.00%--Kasasa Cash Back with Saver

First Security Bank & Trust CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.88%$5k-84 Month CD
1.49%*$50k*-60 Month CD
OTHER TIERS: 1.28% $2,500 - $10k | 1.42% $10k - $50k
1.30%*$50k*-48 - 59 Month CD
OTHER TIERS: 1.03% $2,500 - $10k | 1.22% $10k - $50k

First Security Bank & Trust IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.88%$5k-84 Month IRA
1.49%*$50k*-60 Month IRA
OTHER TIERS: 1.28% $2,500 - $10k | 1.42% $10k - $50k
1.30%*$50k*-48 - 59 Month IRA
OTHER TIERS: 1.03% $2,500 - $10k | 1.22% $10k - $50k
Locations

First Security Bank & Trust has 16 locations. Click to view all First Security Bank & Trust locations.