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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 29th largest bank in the state of Arkansas. It is also the 1,644th largest bank in the nation. It was established in 1910 and as of December of 2020, it had grown to 92 employees at 11 locations. First Western Bank's savings rates are 44% higher than the national average, and it has an A health rating.

Related Posts

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
A

Data as of Q4 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #13083
Year Established1910
Employees92
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.3%
Return on Equity - YTD15.05%
Annual Interest Income$22.9MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$499.8MM$462.2MM
LoansQ4 2020vs Q4 2019$388.1MM$384.4MM
DepositsQ4 2020vs Q4 2019$451.8MM$407.1MM
Equity CapitalQ4 2020vs Q4 2019$44.4MM$39.4MM
Loan Loss AllowanceQ4 2020vs Q4 2019$4.7MM$3.9MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$1.5MM$677.00K
Real Estate OwnedQ4 2020vs Q4 2019$1.1MM$2.5MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not First Western Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

First Western Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%†$25-Christmas Club
2.00%†$25-Wish List Savings
0.75%*†$1k*-FW Elite Savings
OTHER TIERS: 0.10% → $1 - $1k
0.35%†--Health Savings Account
0.25%†$1k-Business URFirst Savings
0.10%†$100-URFirst Savings
0.10%†$1-Kids S.A.F.E

First Western Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%†$10k-Easy Access Money Market
0.20%*†$75k*-Money Market Gold
OTHER TIERS: 0.10% → $1k - $50k | 0.15% → $50k - $75k
0.20%*†$50k*-Money Market Business Pro
OTHER TIERS: 0.10% → $10k - $25k | 0.15% → $25k - $50k

First Western Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.02%*†-$20kURFirst Checking
OTHER TIERS: 0.35% → $20k+
0.25%*†$25k*-Preferred Checking
OTHER TIERS: 0.10% → $1k - $10k | 0.20% → $10k - $25k
0.15%†$500-VIP Checking

First Western Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%†$1k-Online 12 Month CD
0.30%†$1k-Online 18 Month CD
0.30%†$1k-Online 24 Month CD
0.30%†$1k-Online 36 Month CD
0.20%†$1k-Online 6 Month CD
0.20%†$1k-Online 7 Month CD
0.20%†$1k-Online 8 Month CD
0.20%†$1k-Online 9 Month CD
0.15%†$1k-Online 3 Month CD
Locations

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