About a week ago, First State Bank Nebraska (FSBN) unveiled its new First Rate Savings (1.01% APY).
First Rate Savings Requirements
- Must be opened online
- Minimum opening balance is $100
- Receive eStatements
- Access Online Bank
While there is no monthly maintenance fee or minimum balance fee for the First Rate Savings, there is a "$2.00 dormant account fee per month after 12 months of no activity." There is also a combined total of six withdrawal and/or transfer transactions per statement cycle.
On the bright side, according to the FSBN’s online application, customers can fund the First Rate Savings account with a credit card, in addition to the option of funding from an external checking or savings account.
Headquartered in Lincoln, Nebraska, First State Bank Nebraska is offering its new First Rate Savings account to residents of Colorado, Iowa, Kansas, Missouri, Nebraska, and South Dakota via the internet.
Other FSBN accounts that can be opened online include First Rate Checking, Money Market Account, HSA Account, and Good Timers account.
FSBN also has 13 southeast Nebraska branches located in Cortland, De Witt, Dorchester, Filley, Firth, Hallam, Hickman, Lincoln, Pickrell, Waverly, Western, Wilber, and Yutan.
First State Bank Nebraska (FDIC Certificate # 13868) has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 4.22% (excellent) based on March 31, 2016 data. In the past year, FSBN has increased its total deposits by $26.36 million, an excellent annual growth rate of 7.72%. Please refer to our financial overview of First State Bank Nebraska for more details.
In 1912, First State Bank Nebraska was established in Hickman, Nebraska, and was simply called First State Bank. Beginning in 2004, First State Holding Company acquired First State Bank and five other Nebraska banks, which came to be First State Bank Nebraska. Currently, FSBN is Nebraska’s 21st largest bank, with assets in excess of $463 million.
How the First Rate Savings Compare
When compared to the 144 personal Savings Accounts tracked by DepositAccounts.com that are available nationally, First State Bank Nebraska's First Rate Savings APY currently ranks in the top seven. The following is a sampling of those seven accounts.
The above rates are accurate as of 7/13/2016.