florence savings bank

When it comes to opening an account or managing your money with a secure and convenient bank then Florence Savings Bank could be the solution. This bank not only ensures better cashback offers but gives the client full freedom to manage accounts.

Every client of this bank loves to share their experience with other people who want such a bank for better cashback. Even this bank is full of different financial products that let us choose which option we need based on our situation.

With a better health rating, this bank secures our money as well as the return. But how do they do it? Let’s find out more information about this bank.

Picture: Florence Bank: Customers Choice

What Is Florence Savings Bank?

Florence Savings Bank is a community bank that offers stress and hassle-free banking service for the community of Florence. As the 29th largest bank of Florence, this one started its banking journey in 1873. It’s headquartered in Florence.

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In 13 different locations, this bank offers physical banking services. The management makes a strong team of 200 employees. It is also popular for sound financial advice.

To meet the unique needs, this bank has various options. They have fantastic financial situations and long-term goals.

Picture: Make your move with florence savings bank
Picture: Make your move with Florence Bank

Overview on Financial Strength:

To know the financial health of a bank, you must know about its current assets and liability status. Check assets and liabilities of the FSB.

ParticularsQ1 2021Q1 2020
Assets$1.80B$1.48B
Loans$1.00B$1.03B
Deposits$1.60B$1.29B
Equity Capital$166.0 MM$160.7 MM
Loans Loss Allowance$8.7 MM$4.4 MM
Unbacked Noncurrent Loans$2.1 MM$1.5 MM
Real Estate Owned$0$0

What Types of Product FSB Offers?

A community bank must come with a variety of options for the financial product. The FSB also has all the essential products that we need for our daily banking as well as to fulfill financial needs.

Personal Banking

Deposit Accounts:

  • Checking Accounts
  • Savings Accounts
  • IRAs
  • Personal Deposit Rates

Loans:  

  • Home Loans
  • Mortgage Rates
  • Rate Lock Guarantee
  • Home Equity Loans and Lines
  • Home Equity Rates

Resources

  • Mobile Services
  • Debit Cards
  • Account Services
  • Calculators

Business Banking

Deposit Accounts:

  • Business Checking Accounts
  • Business Savings Accounts
  • Other Deposit Account
  • Business Deposit Rates

Loans:

  • Commercial Loans
  • Commercial Lenders
  • Paycheck Protection Program

Resources:

  • Cash Management Services
  • Business Account Services
  • Business Debit Card
  • Business Mobile Services
  • Business Online Security

Resources

  • Locations & Hours
  • Information Center
  • Contact Us
  • Account Inquiry
  • Security Center
  • Financial Education

What Are the Product Rates?

A bank can’t be better if the rate is not below the average. Florence Savings Bank has some popular products that have different rates based on terms and conditions. Here is the rate.

Savings and Money Market Rates:

ParticularsAPYMINMAX
Savings0.05%$2,500$4,999
Money Market0.05%$2,500$2,999
Money Market0.05%$10,000$14,999
Money Market0.05%$25,000$29,999
Premium Money Market Account0.05%$10,000$14,999
Premium Money Market Account0.05%$25,000$34,999

CD Rates:

ParticularsAPYMINMAX
6 Mo CD0.25%$10,000$14,999
6 Mo CD0.25%$100,000$199,999
12 Mo CD0.20%$10,000$14,999
12 Mo CD0.20%$100,000$199,999
18 Mo CD0.20%$10,000$14,999
18 Mo CD0.20%$100,000$199,999
24 Mo CD0.30%$10,000$14,999
24 Mo CD0.30%$100,000$199,999
30 Mo CD0.35%$10,000$14,999
30 Mo CD0.35%$100,000$199,999
36 Mo CD0.40%$10,000$14,999
36 Mo CD0.40%$100,000$199,999
48 Mo CD0.50%$10,000$14,999
48 Mo CD0.50%$100,000$199,999
60 Mo CD1.00%$10,000$14,999
60 Mo CD1.00%$100,000$199,999

Checking Rates:

ParticularsAPYMINMAX
Rewards Checking0.10%$0$0.00
Free Checking0.00%$0$0.00

Fees:

The best bank doesn’t compromise with the service to ensure a better banking experience. When a bank imposes charges in different ways, then clients don’t appreciate their services.

The good news is, FSB comes with extremely low fees. After the comparison with the national average, we feel very comfortable with this bank. It doesn’t have any monthly fee for the checking account.

For a simple account, this bank is best. Even the overdraft fee is lower than the national average. It doesn’t impose out-of-network ATM charges.

ParticularsRemarksNational Average
Monthly Fee$0$3.21
Non-network ATM FeeN/A$1.2
Overdraft Fee$33$35
National Average vs. Florence
Picture: National Average vs. Florence

What About The Service Quality?

The service quality of a bank sets the parameter that guides clients to rate their services. To increase the quality of the service this bank has 13 different locations. So, you can easily visit their branches and get the service that you want.

To reach their customers this bank offers mobile and web apps. You just need to download the app from the Google play store or app store and enjoy your banking.

You can easily access your account and manage your money like transferring and receiving, paying bills, and many more through the app. It is even possible to check your account balance and download statements as well.

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If you don’t have the time to go to the branches, then you can easily contact the customer service officer through the apps. This bank included many more options in their mobile and web app.

  • Overall Mobile Rating: 3.3/5
  • Consumer Satisfaction Rating: 5.0/5       
  • Online Banking Portal: No
  • Live Chat: No
Picture: Manage your florence savings bank  account through a mobile app
Picture: Manage your account through a mobile app

Conclusion:

No bank can serve in the best way unless it can provide every service that customers want from a community bank. For daily banking, there is nothing a bank can minimize especially for the service.

Florence Savings Bank doesn’t frustrate us with their services. In many ways, it is a better bank for the people of the US. They offer a high rate, the lowest charge, better customer service, security, easy account access, and many more for their valued clients.

If you want to be one of them, then this is the best time to open an account. You won’t regret it after opening an account at this bank.

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