First National Bank of America
First National Bank of America is an FDIC insured institution headquartered at
241 E Saginaw St, East Lansing, MI 48823.
It was founded in
1955 and has approximately $4 billion in
assets. Customers can open an account at one of its 3 branches.
Deposit Rates - March 30, 2023
| SAVINGS RATES | APY | MIN | |
|---|---|---|---|
|
SAV
|
0.25% | $2 | Compare |
| CD RATES | APY | MIN | |
|---|---|---|---|
|
6 Mo CD
|
0.75% | $1,000 | Compare |
|
12 Mo CD
|
4.40% | $1,000 | Compare |
|
18 Mo CD
|
4.40% | $1,000 | Compare |
|
24 Mo CD
|
4.40% | $1,000 | Compare |
|
30 Mo CD
|
4.40% | $1,000 | Compare |
|
36 Mo CD
|
4.40% | $1,000 | Compare |
|
48 Mo CD
|
4.35% | $1,000 | Compare |
|
60 Mo CD
|
4.35% | $1,000 | Compare |
| MM RATES | APY | MIN | |
|---|---|---|---|
|
Money Market
|
0.65% | $1 | Compare |
|
Money Market
|
0.75% | $1,000 | Compare |
|
Money Market
|
0.95% | $20,000 | Compare |
| INT CHECKING RATES | APY | MIN |
|---|---|---|
|
Int Ckg
|
0.35% | $1 |
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Overview 2023
General Bank Information
| FDIC Insured | Yes |
| FDIC Certificate | # 17438 |
| Date Established | 1955 |
| Assets | $ 3.82 billion |
| Loans | $ 3.91 billion |
| Deposits | $ 2.70 billion |
| Capital | $ 348.99 million |
Summary Balance Sheet as of September 30, 2022
| ASSETS | |
| Cash & Balances due from depository institutions | $ 123.62 million |
| Interest-bearing balances | $ 114.42 million |
| Total securities | $ 96.57 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 3.91 billion |
| Loan loss allowance | $ 40.48 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 3.45 million |
| Goodwill and other intangibles | N.A. |
| All other assets | $ 86.74 million |
| Total Assets | $ 3.89 billion |
| LIABILITIES | |
| Total deposits | $ 2.70 billion |
| Interest-bearing deposits | $ 2.58 billion |
| Deposits held in domestic offices | $ 2.70 billion |
| % insured (estimated) | 78.25% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 1,091.00 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 16.50 millionn |
| Total Liabilities | $ 3.89 billion |
| Shareholders’ Equity | N.A. |
Summary Income Statement as of September 30, 2022
| INCOME AND EXPENSES | |
| Total Interest Income | $ 201.14 million |
| Total Interest Expense | $ 35.69 million |
| Net interest income | $ 165.45 million |
| Provision for loan and lease losses | $ 5.51 million |
| Total non interest income | $ 2.32 million |
| Total non interest expense | $ 42.79 million |
| Pre-tax Net Operating Income | $ 78.29 million |
Customer Reviews for First National Bank of America
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Savings Comparison
This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.
PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES
Tax Rate: 30%
All calculations are for demonstration purposes only.
- 1LOCAL CDBankMICHIGAN$50,0006 Month0.75%2.59x (National Avg. - 0.29%)$1,000-SCENARIO
Year Rate
0.75%Annual
InterestAnnual Interest
(After Tax)1 50,000 375 263 2 50,375 378 264 3 50,753 381 266 4 51,133 384 268 5 51,517 386 270 6 51,903 389 272 7 52,293 392 275 8 52,685 395 277 9 53,080 398 279 10 53,478 401 281 11 53,879 404 283 12 54,283 407 285 13 54,690 410 287 14 55,101 413 289 15 55,514 416 291 16 55,930 419 294 17 56,350 423 296 18 56,772 426 298 19 57,198 429 300 20 57,627 432 303 TOTAL $8,059 $5,641 - 2LOCAL CDOnline Bank-$50,00060 Month4.10%5.06x (National Avg. - 0.81%)$2,500-SCENARIO
Year Rate
4.10%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,050 1,435 2 52,050 2,134 1,494 3 54,184 2,222 1,555 4 56,406 2,313 1,619 5 58,718 2,407 1,685 6 61,126 2,506 1,754 7 63,632 2,609 1,826 8 66,241 2,716 1,901 9 68,957 2,827 1,979 10 71,784 2,943 2,060 11 74,727 3,064 2,145 12 77,791 3,189 2,233 13 80,980 3,320 2,324 14 84,300 3,456 2,419 15 87,757 3,598 2,519 16 91,355 3,746 2,622 17 95,100 3,899 2,729 18 98,999 4,059 2,841 19 103,058 4,225 2,958 20 107,284 4,399 3,079 TOTAL $61,682 $43,178 - 3LOCAL CDOnline Bank-$50,00024 Month4.30%7.75x (National Avg. - 0.56%)$2,500-SCENARIO
Year Rate
4.30%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,150 1,505 2 52,150 2,242 1,570 3 54,392 2,339 1,637 4 56,731 2,439 1,708 5 59,171 2,544 1,781 6 61,715 2,654 1,858 7 64,369 2,768 1,938 8 67,137 2,887 2,021 9 70,024 3,011 2,108 10 73,035 3,140 2,198 11 76,175 3,276 2,293 12 79,451 3,416 2,391 13 82,867 3,563 2,494 14 86,430 3,717 2,602 15 90,147 3,876 2,713 16 94,023 4,043 2,830 17 98,066 4,217 2,952 18 102,283 4,398 3,079 19 106,681 4,587 3,211 20 111,268 4,785 3,349 TOTAL $66,053 $46,237 - 4LOCAL CDOnline Bank-$50,00012 Month4.50%10.23x (National Avg. - 0.44%)$2,500-SCENARIO
Year Rate
4.50%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,250 1,575 2 52,250 2,351 1,646 3 54,601 2,457 1,720 4 57,058 2,568 1,797 5 59,626 2,683 1,878 6 62,309 2,804 1,963 7 65,113 2,930 2,051 8 68,043 3,062 2,143 9 71,105 3,200 2,240 10 74,305 3,344 2,341 11 77,648 3,494 2,446 12 81,143 3,651 2,556 13 84,794 3,816 2,671 14 88,610 3,987 2,791 15 92,597 4,167 2,917 16 96,764 4,354 3,048 17 101,119 4,550 3,185 18 105,669 4,755 3,329 19 110,424 4,969 3,478 20 115,393 5,193 3,635 TOTAL $70,586 $49,410
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