First State Bank of the Florida Keys


Overview / Commentary
305-296-8535
1201 Simonton Street
Key West, FL 33040

First State Bank of the Florida Keys is headquartered in Key West and is the 19th largest bank in the state of Florida. It is also the 794th largest bank in the nation. It was established in 1955 and as of March of 2022, it had grown to 156 employees at 12 locations. First State Bank of the Florida Keys has an A health rating.

Reviews (5)

Huge Daily Fees-Response

Posted by: |

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

Posted by: |

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

Posted by: |

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. 



Health

Health Grade Components

Overall
FDIC Certificate #17509
Year Established1955
Employees156
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.05%
Return on Equity - YTD14.29%
Annual Interest Income$9.3MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$1.30B$1.22B
LoansQ1 2022vs Q1 2021$711.5MM$723.0MM
DepositsQ1 2022vs Q1 2021$1.17B$1.02B
Equity CapitalQ1 2022vs Q1 2021$92.1MM$98.4MM
Loan Loss AllowanceQ1 2022vs Q1 2021$9.3MM$9.7MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$1.1MM$284.00K
Real Estate OwnedQ1 2022vs Q1 2021$0$435.00K
Rates

Sorry, we do not have rate data for First State Bank of the Florida Keys.

Locations


Cities: Big Pine Key, Islamorada, Key Largo, Key West, Marathon, Stock Island, Summerland Key

Big Pine Key Branches
Big Pine Branch30515 Overseas HwyBig Pine Key, FL 33043

Islamorada Branches
Islamorada Branch81621 Old HighwayIslamorada, FL 33036

Key Largo Branches
Tradewinds Branch101433 Overseas HighwayKey Largo, FL 33037
Key Largo Branch97670 Overseas HwyKey Largo, FL 33037

Key West Branches
First State Bank Of The Florida Keys1201 Simonton StreetKey West, FL 33040
Winn Dixie Branch2778 North Roosevelt BoulevardKey West, FL 33040
Boulevard Branch3406 North Roosevelt BoulevardKey West, FL 33040

Marathon Branches
Marathon Branch6900 Overseas HighwayMarathon, FL 33050

Stock Island Branches
Stock Island Branch5450 Macdonald AvenueStock Island, FL 33040

Summerland Key Branches
Summerland Branch24794 Overseas HwySummerland Key, FL 33042

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