First State Bank of the Florida Keys is headquartered in KEY WEST and is the 24th largest bank in the state of Florida. It is also the 884th largest bank in the nation. It was established in 1955 and as of December of 2023, it had grown to 177 employees at 11 locations. First State Bank of the Florida Keys has a B health rating.
Huge Daily Fees-Response
On 3/30/11 @ 4:02 PM a PSnyder posted a review that incorrectly claimed that First State Bank of the Florida Keys charged a $100 per day overdraft fee.
The statement regarding a $100 per day overdraft fees is completely inaccurate. The Bank's standard overdraft fee schedule is reasonble and customary in the industry for overdraft related services.
Moreover, in reviewing our files we cannot find a customer by the name of P Snyder, so if indeed they had an account with our bank it must have been under a different name.
First State Bank of the Florida Keys is the only remaining local community bank in the Keys and we have a 56 year history of personalized one-on-one customer service.
Therefore, we welcome the opportunity to visit personally with P Snyder to review the exact nature of their comments and to clairfy the reason for any over draft fees, if they, in fact, were charged to an account.
P Snyder may reach us at www.keysbank.com, "contact us" section to schedule an appointment to review their situation with a senior bank officer.
Negative Review Accuracy
In my opinion, this bank is a dumpster fire. I have experienced the worst customer service on a repeated and consistent basis than any other bank I have ever had accounts in. I have received no resolution or assistance with any problems over the telephone or in person repeatedly, with different issues, different persons and different locations. The only positive review here appears to have been written by the bank itself. You may find that what I am posting is accurate when you run into a problem and seek out bank personnel for assistance. I would highly recommend that you open an account elsewhere and not risk it, especially if you travel. If you have an account and are reading these reviews, then you have probably already encountered a problem. I suggest you close your account immediately and find better banking elsewhere.
Horrible Experience
They are rude and arrogant with NO customer service
WILL NOT DO ANYTHING TO HELP AND EHEN YOU EXPLAIN THAT YOU CAN'T FILL OUT TH E DEPOSIT RECEIPT BECAUSE YOU FORGOT YOUR GLASSES THEY TELL YOU THST IT ISN'T THERE PROBLEM. WHEN YOU ASK WHY THEH TELL YOU IF YOU DON'T LIKE IT take your money elsewhere. When you call corporate office they agree.
Certificate Of Deposit Penalities Not Waived In Cases Of Death
Recently, my mother who had advanced dementia, died after months of being in a nursing home and periods in a hospital. She had certificates of deposits in four banks in the keys. Only First State Bank charged a penalty for early withdrawal to her benefactors. I have checked with several other banks and none of them charge a penalty in cases of death. I asked the Branch Administrator Manager of First State if the penalty could be waved, but my request was denied. I think the banks that do not charge a penalty realize that it is wrong to capitalize on the death of a customer by penalizing the relatives. At the time of a death of a love one there are many issues that require attention and a little consideration would be appreciated.
Huge Daily Fees
I had a rental property in Key West and both a checking account with First State Bank of the FL Keys and a the mortgage on the property with First State Bank of the FL Keys. For convenience, the tenant deposited rent into the account directly and 10 days later the mortgage with set up to auto-deduct. One month, the tenant failed to pay the rent and the auto-deduct happened before I could get enough cash into the account to cover it. I fully expected a late fee on the mortgage and an overdraft fee on the checking account. However, I did not expect to be charged as daily fine of $100/day for every day that the acccount was overdrawn. Since even exrpress mail is not that fast to Key West, I ended up with several hundred dollars of fees for this one event. I was shocked and have since closed the account.
Data as of Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 17509 |
| Year Established | 1955 |
| Employees | 177 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.67% |
| Return on Equity - YTD | 9.09% |
| Annual Interest Income | $51.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $1.18B$1.23B |
| Loans | Q4 2023vs Q4 2022 | $822.6MM$831.4MM |
| Deposits | Q4 2023vs Q4 2022 | $998MM$1.08B |
| Equity Capital | Q4 2023vs Q4 2022 | $94.6MM$87.5MM |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $9.5MM$9.5MM |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $2.5MM$2.2MM |
| Real Estate Owned | Q4 2023vs Q4 2022 | $0$0 |