Forcht Bank


Overview / Commentary
859-264-2265
2404 Sir Barton Way
Lexington, KY 40509

Forcht Bank is headquartered in LEXINGTON and is the 11th largest bank in the state of Kentucky. It is also the 719th largest bank in the nation. It was established in 2002 and as of March of 2023, it had grown to 278 employees at 24 locations. Forcht Bank's money market rates are 2X the national average, and it has a B+ health rating.

Reviews (1)

Checking Account Disaster

When signing up for a checking account with Forcht Bank, I was NOT told there was a minimum for the amount that could remain in the account. I was told in the beginning it took $200 to start up the account so I happily placed my hard earned money into the account to get a local bank account set up. Within a month which was before starting my new job (which would be direct deposit) I started noticing $6 coming out of my account each week. I had used my new bank card for gas and the account had $150 before the fees starting coming out. I had no way of putting money back in there until my first paycheck and before I knew it, my account was down to below $100 and I barely had enough money to fill up my tank to get to work. I called the bank, they explained this should have been told with the type of account I had and they could put me in a "free" account if I wanted to do so. By this point, I had lost too much money and pulled the funds out. The next month I received an "overdraft" notice of $6 and $30 (fee) because the lady I spoke with did not close the account like she was supposed to. Needless to say I finally got it figured out but I was not a happy camper.



Health
B+

Health Grade Components

Overall
FDIC Certificate #57415
Year Established2002
Employees278
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.54%
Return on Equity - YTD6.12%
Annual Interest Income$13.2MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$1.51B$1.52B
LoansQ1 2023vs Q1 2022$986.1MM$836.2MM
DepositsQ1 2023vs Q1 2022$1.32B$1.35B
Equity CapitalQ1 2023vs Q1 2022$133.1MM$150.2MM
Loan Loss AllowanceQ1 2023vs Q1 2022$13.3MM$10.2MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$2.5MM$1.3MM
Real Estate OwnedQ1 2023vs Q1 2022$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Forcht 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.

Forcht Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$10k*-Forcht Friend Savings
OTHER TIERS: 0.05% Up to $10k
0.05%--Simple Savings

Forcht Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.26%*$500k*-Platinum Business Money Market
OTHER TIERS: 0.15% Up to $100k | 0.75% $100k - $250k | 1.00% $250k - $500k
1.00%*$250k*-Forcht Reserve Money Market
OTHER TIERS: 0.15% Up to $50k | 0.60% $50k - $100k | 0.80% $100k - $250k
0.15%*$100k*-Performance Money Market
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $100k

Forcht Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%--Forcht Friend Checking
0.05%--55 Advantage Checking
0.05%--Everyday Heroes Checking

Forcht Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.82%$1k-15 Month Special CD - New Money
3.30%$1k-7 Month Special CD - New Money
Locations

Availability



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