First National Bank of America Review 2025
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At a glance
Overview
First National Bank of America (FNBA) is a solid choice for consumers who prefer a community bank, live within the bank's branch footprint in Michigan and want competitive annual percentage yields (APYs) on certificates of deposit (CDs) and a , as well as the convenience of online and mobile banking.
Highlights:
Top CD RatesHighlights:
CDs
Checking
Savings
MMA
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
FNBA is a federally insured bank that opened in 1955 as First National Bank of East Lansing. Today, it pays competitive rates on deposits and offers online and mobile banking. Though CDs can be opened online, most of the bank’s other deposit accounts can only be opened at a branch.
Pros
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FNBA pays competitive yields on its CDs and money market account.
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It offers access to over 55,000 ATMs across the U.S.
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It offers online and mobile banking through its highly rated mobile app.
Cons
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Most accounts other than CDs must be opened at a branch.
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Its three branches are all in Michigan.
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Some online banks offer higher savings yields.
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First National Bank of America banking products
First National Bank of America Statement Savings
Pros
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Statement Savings has a minimum opening deposit requirement that’s manageable.
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Statement Savings also has a reasonable minimum balance requirement to avoid a monthly fee.
Cons
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The Statement Savings account must be opened in a branch.
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APYs for the Statement Savings and High Yield Savings accounts are below the national average.
First National Bank of America CD
Pros
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FNBA offers competitive yields and a wide range of terms.
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Many of the CD accounts opened online and in a branch pay the same APY.
Cons
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The bank does not offer specialty CDs, such as no-penalty or bump-up CDs.
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Early withdrawal penalties are much stiffer for longer-term CDs.
Rate history for FNBA's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
First National Bank of America HomeTowne Money Market Checking
Pros
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HomeTowne Money Market Checking pays competitive rates.
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The account comes with a debit/ATM card and check-writing privileges.
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You’ll have access to person-to-person transactions and bill pay through FNBA’s mobile app.
Cons
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HomeTowne Money Market Checking has a high minimum opening deposit.
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A high minimum balance is required to waive the monthly fee.
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The account can’t be opened online.
First National Bank of America Simple Checking
Pros
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Simple Checking comes with a debit/ATM card.
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Both the Simple Checking and Personal Checking accounts require just $100 to open.
Cons
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You must visit a branch to open a checking account.
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The NSF fee is higher than the national average.
How First National Bank of America compares to other banks
Compare different account types offered by First National Bank of America. Annual percentage yields (APYs) shown were updated between March 17, 2025 and March 23, 2025.
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Selected bank
First National Bank of America CD
Bankrate score
4.5
Bankrate CD rating = 4.5/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. |
Most comparable
TAB Bank CD
Bankrate score
4.1
Bankrate CD rating = 4.1/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. |
Search for or select a bank:
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Bankrate score
Bankrate CD rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between March 17, 2025 and March 23, 2025.
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| 4.26% | 4.21% | |
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Minimum deposit
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| $1,000.00 | $1,000.00 | |
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Term
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| 1 yr | 1 yr | |
| First National Bank of America offers a wide range of CDs, including a 10-year CD. Yields vary, but most First National Bank CDs earn solid to high APYs. At least $1,000 is required to open a CD. | TAB Bank offers a handful of CDs, ranging from one to five year terms. All CDs can be opened with $1,000 and they all offer competitive rates, especially true of the shorter terms. | |
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APY offering:
4.26% - 1 yr
5/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less.
Minimum deposit:
$1,000.00
4/5
The minimum deposit amount a financial institution requires in order to open a CD.
Range of term lengths:
6 mos - 6 yrs
4/5
A designated amount of time that funds must be held within a CD.
Early withdrawal penalty:
Average
3/5
A penalty incurred when funds have been withdrawn from a CD before its maturity date.
Offer no-penalty or bump-up CDs:
No
0/5
A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date.
Offer IRA CDs:
Yes
5/5
An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.
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APY offering:
4.21% - 1 yr
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less.
Minimum deposit:
$1,000.00
4/5
The minimum deposit amount a financial institution requires in order to open a CD.
Range of term lengths:
1 yr - 5 yrs
4/5
A designated amount of time that funds must be held within a CD.
Early withdrawal penalty:
Good
4/5
A penalty incurred when funds have been withdrawn from a CD before its maturity date.
Offer no-penalty or bump-up CDs:
No
0/5
A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date.
Offer IRA CDs:
Yes
5/5
An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.
|
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less.
The minimum deposit amount a financial institution requires in order to open a CD.
A designated amount of time that funds must be held within a CD.
A penalty incurred when funds have been withdrawn from a CD before its maturity date.
A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date.
An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.
Bankrate does not currently track additional product details for this bank.
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Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | $5 |
| Non-sufficient funds fee | $30 |
| Monthly maintenance fee | Depends on the account |
| Out-of-network ATM fee | None |
| Excessive transaction fee | None |
| Early account closing* | $20 |
*Per account, within 90 days of opening the account
Customer experience
Customer support
Branch availability: FNBA is a family-owned community bank with three branches in Michigan, and it belongs to the Allpoint national ATM network.
Customer service: A phone number for account support is available, and each of the three branches can also be contacted separately by phone. Customer service phone support hours aren’t listed on the bank’s website.
Digital experience
FNBA offers online and mobile banking, with a highly rated mobile app. Most accounts must be opened in person at a branch, however.
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.
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