First Community Bank Review: Straightforward Checking and Savings Products
Written by
Dawn Allcot
Edited by
Joe Evans
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Open a free checking account with no minimum balance
First Community Bank is best for its wide range of free checking options, including an interest-earning free checking account for customers over the age of 50. If you open any new checking account and bring in your old debit cards from another bank or credit union, you can earn up to $20 in bonus cash from First Community.
First Community Bank, headquartered in Bluefield, Virginia, has 44 branch locations across West Virginia, Virginia, North Carolina, and Tennessee. Celebrating 150 years of serving the region, the bank offers straightforward checking and savings products for businesses and consumers, as well as credit cards and an easy-to-use app.
GOBankingRates has ranked it among the Best Banks of 2025 for West Virginia and Arkansas customers.
First Community Bank Checking Account
First Community offers five checking accounts, including three with no monthly service charges. All checking accounts have no minimum opening deposit and provide free access to First Community’s handy mobile app and network of nearly 50 ATMs. You can get up to $10 in out-of-network ATM fees waived monthly if you bring your receipts into a First Community branch.
- Easy to waive monthly fees
- All but Community Connect checking provide unlimited check-writing
- Earn up to $20 bonus when you bring in your old debit cards
- Earn rewards with your FCB rewards debit card
- Friendly, local banking
Best For
Banking in Arkansas
Banking in West Virginia
Low Monthly Fees
Loan Options
Mobile App
Simple, No-Fuss Checking Accounts
For a basic checking account offering with no fancy frills or expensive fees, First Community Bank’s checking is the way to go.
Fees
No monthly fees on most accounts
APY
Rates not disclosed online
Min Opening
$0
Pros
- No monthly fees for most checking accounts
- Earn rewards and a bonus
- No minimum opening deposits
Cons
- Only 44 branch locations
- Fewer than 50 ATMs
Quick Take
First Community Bank offers straightforward, low-fee or no-fee checking accounts perfect for those looking for a friendly, regional bank.
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First Community Bank Savings Accounts
Unlike the wide range of checking accounts, First Community offers only one savings account with tiered interest rates, making your choice easy. Earn APY on the first $50,000 in your account, slightly more for balances from $50,001 up to $100,000 to $250,000, and on balances greater than $250,000.
- Quarterly maintenance fee of $12 (waived when you maintain a balance of $100) is much lower than some competitor bank fees
- Interest compounded and credited quarterly
- No minimum opening deposit or minimum balance requirements
- Withdraw funds an unlimited number of times quarterly through an ATM
- Best for those who maintain a high balance
Best For
Banking in Arkansas
Banking in West Virginia
Low Monthly Fees
Loan Options
Mobile App
Simple, Tiered Savings Account Option
Ideal for big savers sporting a hefty $250,000 balance, this simple, multi-tiered savings account keeps things simple for customers.
Fees
$12 quarterly maintenance fee waived for $100 minimum daily balance
APY
to
Min Opening
$0
Pros
- No minimum opening deposit
- The quarterly fee of $12 is easily waived
- APY over 1% for balances over $250,000
- Withdraw money through an ATM with no fees
Cons
- $2 fee for more than 6 withdrawals quarterly (excluding ATM withdrawals)
- Interest rate is low compared to high-yield online savings accounts
- Variable interest rates could drop if the Fed lowers the prime rate
Quick Take
With its tiered savings account, First Community Bank is best for big savers who maintain a balance of at least $250,000 and want the convenience of having savings linked to their First Community checking.
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First Community Bank Money Market Accounts
A money market account balances high interest rates with easy accessibility to your money. The First Community Bank money market stands out with competitive interest rates for higher balances and unlimited free ATM withdrawals.
- The $10 monthly maintenance fee is easily waived by maintaining a $500 minimum balance
- APY for balances of $100,000 or more, for less than that
- Unlimited ATM withdrawals with no fees
Best For
Banking in Arkansas
Banking in West Virginia
Low Monthly Fees
Loan Options
Mobile App
A Steady, Secure Money Market For Modest Savings
While it might not be the highest APY option around, it’s a simple, no-frills money market for those looking to save at a steady, modest rate.
Fees
$10 maintenance fee waived for accounts maintaining a $500 daily balance
APY
to
Min Opening
$0
Pros
- Unlimited ATM withdrawals with no fees
- Interest compounded and paid monthly
- APY on balances over $100,000
Cons
- APY on balances under $100,000
- Can find higher APYs with high-yield, online savings
- Limit of six transfers monthly (other than ATM withdrawals)
- $10 maintenance fee (waived with a $500 minimum daily balance)
Quick Take
Unlike many money market accounts, the Community Money Market does not provide paper checks. It’s best for customers who want a secure place to save their money at a modest interest rate.
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Banking Experience
With multiple branch locations across a limited region, First Community Bank provides an easy-to-use mobile app through Google Play and the App Store to make banking easy.
The Android app, however, experienced some challenges, earning just 3.8 stars. Users complained of glitches that logged them out frequently or made it difficult to log in.On the other hand, the iOS version of FCB Xpress has 4.8 stars with 6,800 ratings. One reviewer, Rebekah190000 wrote, “I just wanted to say how I see the employees of FCB in person and online… They are always there to help… Their commitment to excellence is 2nd to none… Their support is the best! They go above and beyond for me.”
How Does First Community Bank Compare?
First Community Bank isn’t the right fit for everyone. Here’s a look at some of your other options:
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly fees on most accounts
$0 or $12, with options to waive
$12, waivable
APY
APY
APY
Rates not disclosed online
N/A
N/A
Min Opening
Min Opening
Min Opening
$0
$0
$50
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$12 quarterly maintenance fee waived for $100 minimum daily balance
$5 monthly, waivable
$5, waivable
APY
APY
APY
to
Min Opening
Min Opening
Min Opening
$0
$0
$25 to $50
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$10 maintenance fee waived for accounts maintaining a $500 daily balance
No monthly service fee
$12, waivable
APY
APY
APY
to
to
Min Opening
Min Opening
Min Opening
$0
$25
$50
First Community vs. Virginia National Bank
Virginia National Bank offers three choices in checking accounts and a few varieties of savings and money market accounts. Virginia National Bank’s senior savings begins at 60 years of age and has a monthly fee for balances below $500. On the other hand, Community’s senior checking has no monthly fee and is for anyone ages 50+. Virginia National Bank covers a smaller footprint than First Community and has just over a dozen offices across the state.
First Community vs. M&T Bank
M&T Bank serves customers in Virginia and West Virginia, as well as across the Northeast U.S. The bank has more than 900 branches and a wide ATM network, making it better for people who travel outside their home region frequently. M&T has a choice of four checking accounts, including one with no monthly fee. There is no checking option designed specifically for seniors. M&T Bank offers three savings accounts, including one designed for children under 18. But you can find higher yields with First Community Bank.
First Community Bank vs. Chase Bank
As the largest bank in the U.S. based on assets, Chase Bank is a solid choice for anyone looking for multiple branches, a vast ATM network, and a user-friendly mobile app. Rated number one for Best Premium Checking Accounts and one of the Best National Banks by GOBankingRates for 2025, Chase offers checking, savings, CDs, and a multitude of credit cards for customers.
However, First Community Banks wins out for interest-earning checking, no-fee checking, and interest rates over 1% for savings.
Final Take
First Community Bank is best for people in Virginia, West Virginia, and parts of North Carolina and Tennessee who want friendly local service, and fee-free checking options. Adults over 50 will especially like the no-fee, interest-earning checking account designed with their needs in mind.
First Community Bank FAQ
If you're a resident of West Virginia or considering a local bank with a focus on community, keep reading to learn more about First Community Bank's account options, fees, and what makes them a top choice.- Who did First Community Bank merge with?
- First Community Bank merged with Surrey Bank and Trust in 2023, expanding First Community’s presence with additional branches in North Carolina and West Virginia.
- How much can you overdraft with First Community Bank?
- First Community Bank allows eligible customers a $100 introductory limit on overdrafts, but personal accounts may qualify for overdraft privileges as high as $700. Overdraft fees of up to $36, up to a daily limit of $216 per account, may apply.
- Does First Community Bank send text messages?
- First Community Bank may send you a text message to verify 2-factor authentication when you set up your mobile or online banking account. Within the mobile app or online banking, you can set up your account to receive security or balance alerts through text messages, email, or by phone.
- What time is the mobile deposit cut-off for First Community Bank?
- Mobile deposits received before 6 PM on a business day will be processed that day. Mobile deposits processed on a weekend, Federal holiday, or after 6 PM will be processed the next business day.
- How do I withdraw money from First Community Bank?
- You can withdraw money from First Community Bank via ATM, check, or through a teller at a branch. If you use an out-of-network ATM for a cash withdrawal, you can have up to $10 in fees reimbursed monthly.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 19, 2024.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 18, 2024.
To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
