The First National Bank of McGregor
The First National Bank of McGregor is headquartered in Mc Gregor and is the 109th largest bank in the state of Texas. It is also the 1,230th largest bank in the nation. It was established in 1889 and as of March of 2021, it had grown to 96 employees at 5 locations. The First National Bank of McGregor has a C+ health rating.
Interest Rate Is A Lie....It's 2.5% Not 3.0%
Watch Out! TFNB is a very sneaky bank…. They are still advertising 3% APY For the Extra Edge Checking on their website, but they dropped the interest rate back in December to 2.50% APY and did not disclose this to the account holders. Grrrrrrrrrrrrr I wonder how long it will take for them to correct the interest rate on their website??
Sorry, but I am pulling my money out of TFNB. There are other banks that offer the same interest or higher and are more trustworthy. I will also report TFNB to the OCC.
UPDATE: Overnight! After my review and phone call yesterday, TFNB has updated their website without stating the current interest rate...just "Call for current Rates". Oddly enough, when you call they don't know, and have to look it up? Give me a break? Knowing the interest rate on their biggest Rewards checking should be known by all employees, unless this is some ploy to frustrate customers.
Data as of Q1 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 3330 |
| Year Established | 1889 |
| Employees | 96 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.02% |
| Return on Equity - YTD | 11.33% |
| Annual Interest Income | $9.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2021vs Q1 2020 | $752.4MM$533.9MM |
| Loans | Q1 2021vs Q1 2020 | $550.4MM$474.5MM |
| Deposits | Q1 2021vs Q1 2020 | $683.2MM$470.6MM |
| Equity Capital | Q1 2021vs Q1 2020 | $66.4MM$60.5MM |
| Loan Loss Allowance | Q1 2021vs Q1 2020 | $6.8MM$5.2MM |
| Unbacked Noncurrent Loans | Q1 2021vs Q1 2020 | $18.7MM$1.9MM |
| Real Estate Owned | Q1 2021vs Q1 2020 | $985.00K$576.00K |