First National Bank of America Review 2022
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .
At a glance
CDs
Checking
Savings
About Bankrate Score
Hover for moreOverview
First National Bank of America is a solid choice for consumers who prefer a community bank, live within the bank's branch footprint and want competitive APYs on CDs and other deposits, as well as the convenience of online and mobile banking.
Highlights
- Top CD Rates
Overall
FNBA is a federally insured bank with more than $2.6 billion in assets. It opened in 1955 as First National Bank of East Lansing.
Pros
-
It pays competitive yields on deposits.
-
FNBA offers access to over 55,000 ATMs across the U.S.
-
It offers online and mobile banking through its highly rated mobile app.
Cons
-
Accounts other than CDs must be opened at a branch.
-
Its three branches are all in Michigan.
-
Some online banks offer higher yields.
First National Bank of America bank products
First National Bank of America savings overview
FNBA's High Yield Savings Account pays a very competitive yield and requires $1,000 to open. It can be opened online.
Pros
-
Statement Savings has a reasonable opening deposit.
-
Statement Savings has a reasonable minimum balance requirement to avoid a monthly fee.
-
The Statement Savings APY is well above the national average.
-
The High Yield Savings Account pays a very competitive APY and can be opened online.
Cons
-
The Statement Savings account must be opened in a branch.
-
Statement Savings doesn't have APY tiers, so bigger savers are not rewarded with higher rates.
Bank experience
First National Bank of America is a family-owned community bank with three branches in Michigan. It pays very solid interest rates on deposits and offers the conveniences of online and mobile banking. Though CDs and the high-yield savings account can be opened online, checking and statement savings accounts can only be opened at a branch. The bank’s mobile app is highly rated. FNBA is a good choice for consumers who prefer smaller banks and higher returns.
About First National Bank of America
First National Bank of America is a family-owned community bank based in East Lansing, Michigan. FNBA offers checking, savings, IRAs and CDs with competitive rates, as well as mortgages and business banking products. It has three branches and a large ATM network through Allpoint. It also offers online and mobile banking and has a highly rated mobile app. Most accounts must be opened in a branch.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
