First Western Bank

Overview / Commentary

www.firstwestern.com

479-675-3000

80 W Main St
Booneville, AR 72927

First Western Bank is headquartered in Booneville and is the 28^th largest bank in the state of Arkansas. It is also the 1,629^th largest bank in the nation. It was established in 1910 and as of September of 2020, it had grown to 90 employees at 11 locations. First Western Bank's money market rates are 25% higher than the national average, and it has an A health rating.

First Western Bank 0.95% Elite Savings - The New FI Rate Leader For Balances Under $100K - 1/1/2021

This bank has been in business for >100 years, but surprisingly, Ken has never written about it and no one has ever posted a review of it. It has 11 branches in nw AR. Its Elite Savings Acct pays 0.95%, with a minimum balance of $1k, new money only. The acct appears to be nationally available; I live in MD and there's not a branch within 1,000 miles of me, yet I was eligible to open an acct. Click on "Open New Account" on the top right. It will then prompt you for your zip code, and regardless of what you enter, it will show that you're eligible for the FW Elite Savings Acct. Depending on where you live, you may be eligible for other accts as well. As always, anyone posting this deal on their own website should give credit to DA for the find. https://www.firstwestern.com/personal/savings

0.95% URFirst Elite Savings Acct : First Western Bank, AR - 12/12/2020

This bank has been in business for >100 years, but surprisingly, Ken has never written about it and no one has ever posted a review of it. It has 11 branches in NW AR. Its Elite Savings Acct pays 0.95%, with a minimum balance of $1k, new money only. The acct appears to be nationally available; I live in MD and there's not a branch within 1,000 miles of me, yet I was eligible to open an acct. As always, anyone posting this deal on their own website should give credit to DA for the find. Every single time that Ken writes an article about a FI, you can bet your life that a day or 2 later, a certain website will also write an article about the FI, and it has NEVER recognized DA as the source for its article. I'm not going to give the website any free publicity by naming it. Any website which does this has no class whatsoever - it's too bad that everything on DA can't be copyrighted. https://www.firstwestern.com/personal/savings[/U

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Health

Data as of Q3 2020

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Health Grade Components

Overall
FDIC Certificate #	13083
Year Established	1910
Employees	90
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	1.19%
Return on Equity - YTD	13.82%
Annual Interest Income	$17.7MM

Assets and Liabilities
Assets	Q3 2020vs Q3 2019	$497.7MM$449.2MM
Loans	Q3 2020vs Q3 2019	$414.5MM$374.1MM
Deposits	Q3 2020vs Q3 2019	$429.6MM$395.6MM
Equity Capital	Q3 2020vs Q3 2019	$43.3MM$39.2MM
Loan Loss Allowance	Q3 2020vs Q3 2019	$4.5MM$3.7MM
Unbacked Noncurrent Loans	Q3 2020vs Q3 2019	$600.00K$688.00K
Real Estate Owned	Q3 2020vs Q3 2019	$1.2MM$3.3MM

Rates

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