First Mid Bank & Trust Review: Accessible and Competitive Account Options

The High-Yield Savings Account pays a competitive annual percentage yield (APY) with no balance requirements or fees.

Best for customers who value accessible financial solutions, local branch support and straightforward options for maximizing savings.

If you’re searching for a First Mid Bank & Trust review, you’re likely trying to determine whether this regional bank offers competitive accounts, reasonable fees and reliable customer support.

First Mid Bank & Trust is a community-focused financial institution offering personal banking, business banking, lending and wealth management services. While it does not have the nationwide presence of the largest banks, it emphasizes relationship-based banking and regional branch service. For customers located near its branches, that can mean more personalized financial support than many large institutions provide.

Here’s how First Mid Bank & Trust works and whether it may be a good fit for your banking needs.

First Mid Bank & Trust Review: Quick Verdict

Feature	Details
Best for	Customers seeking community banking with local branch support
Account types	Checking, savings, CDs, loans and wealth management
Banking access	Regional branches with online and mobile banking tools
Monthly fees	Vary by account; some accounts waive fees with minimum balances
Ideal customer profile	Individuals and businesses seeking relationship-focused banking

First Mid Bank & Trust Checking Accounts

Checking accounts are typically the primary account used for everyday transactions. Features may include:

• Debit card access
• Direct deposit
• Online bill payment
• Mobile banking tools

Checking accounts remain the most widely used banking product in the U.S. According to the Federal Reserve, more than 80% of American households maintain a transaction account, including checking accounts.

First Mid Bank & Trust offers multiple checking accounts to fit varying needs, including fee-free options, interest-bearing accounts, and specialized accounts for young customers and seniors. All accounts come with essential banking tools and perks like overdraft protection and access to digital banking services.

• The debit card rewards program pays up to $80 per year for Premier accounts and up to $40 per year for Classic accounts.
• First Mid reimburses ATM fees up to $12 per month for select accounts.
• Premier Checking, Classic Checking and Interest Checking have an APY of for all balances.
• Additional services, including shopping and travel discounts, accidental death and dismemberment insurance and identity theft protection, are available with select accounts.

First Mid Bank & Trust Checking Accounts

Start Banking

Best For

Banking in Illinois

Mobile App

Loan Options

Low Monthly Fees

Low Minimum Deposit

Diverse Checking Account Options

First Mid Bank & Trust gives customers several checking choices with perks like fee waivers and debit rewards, but APYs across its interest-bearing accounts remain low.

Fees

$3 to $7.95, with some waivable options

APY

Min Opening

$25 to $1,000

Pros

• Variety of accounts to suit different lifestyles and needs
• Options to waive the monthly maintenance fee
• Debit card rewards program that pays cash back on everyday purchases
• No annual fees

Cons

• High minimum balance requirement to avoid fees for some accounts
• Cannot waive the Blue Sky maintenance fee
• Low APY for interest-earning checking accounts compared to options at other banks

Quick Take

First Mid Bank & Trust provides a variety of checking accounts for diverse needs, but high minimum balances and low APY rates may be drawbacks.

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First Mid Bank & Trust Savings Accounts

Savings accounts allow customers to earn interest while keeping funds accessible. Interest rates at regional banks vary depending on:

• Account balance
• Market conditions
• Bank policies

The FDIC reports that the national average savings account rate remains below 1% at many traditional banks, although online banks sometimes offer higher yields.

First Mid offers customers two traditional savings accounts: Retail Savings and Smart Savings, as well as a High-Yield Savings Account through Raisin. The high-yield account has a competitive APY of that outpaces the rates of the bank’s traditional savings options.

• Open a High-Yield Savings account online with a minimum deposit of $1.
• Open a Retail Savings account with a minimum opening deposit of $100.
• The Retail Savings account has a $1 monthly maintenance fee when the balance falls under $100.
• You pay no maintenance fee for the High-Yield Savings account and do not have to maintain a minimum balance.
• The High-Yield Savings account has no transaction limits like First Mid’s traditional savings accounts.

First Mid Bank & Trust Savings Accounts

Start Banking

Best For

Banking in Illinois

Mobile App

Loan Options

Low Monthly Fees

Low Minimum Deposit

Competitive APYs

First Mid Bank & Trust offers a competitive high-yield savings account with no fees or limits, though its traditional savings options have low APYs and restrictions.

Fees

$0 to $1

APY

Up to

Min Opening

$0 to $100

Pros

• Competitive interest rate
• No monthly maintenance fees or transaction limits with the high-yield account
• No maintenance fee with the Smart Savings account

Cons

• Some online banks offer higher APYs
• Must apply and service the high-yield savings account through a third-party platform
• Non-competitive APY for traditional savings accounts

Quick Take

First Mid Bank & Trust’s High-Yield Savings account, offered through Raisin, stands out with a competitive APY, no maintenance fees and no transaction limits. While traditional savings accounts are accessible, their low APY and restrictions make them less appealing. The high-yield account is an excellent option for maximizing returns, though some competitors may offer slightly higher rates.

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First Mid Bank & Trust CD Accounts

First Mid Bank & Trust has a selection of CDs with a minimum of $1,000, which makes them accessible for a variety of savers. You can choose from nine terms to accommodate your savings goals, with standard rates from to APY. The bank offers Special CDs with promotional rates from time to time, with rates as high as APY.

• Open a CD with a low $1,000 minimum deposit.
• Choose from nine flexible terms from 3 months to 5 years.
• Special promotional rates of to are available for a limited time.
• Standard rates may fall short compared to online banks.
• You have the option to deposit up to $50,000 during the CD term.

First Mid Bank & Trust CD Accounts

Start Banking

Best For

Banking in Illinois

Mobile App

Loan Options

Low Monthly Fees

Low Minimum Deposit

Flexible Terms and Promo Rates

First Mid Bank & Trust CDs offer accessible options with a low minimum deposit and competitive promotional rates, but standard rates may fall short compared to online banks.

Fees

No monthly service fee

APY

Up to

Min Opening

$1,000

Pros

• Can open a standard CD online
• Competitive rates for promotional CDs
• Can deposit additional funds after opening

Cons

• Non-competitive standard CD rates
• Minimum deposit is higher than competitors

Quick Take

CDs at First Mid Bank & Trust are accessible, with a low minimum deposit and flexible terms. While the promotional CDs have competitive interest rates, you can find better rates elsewhere for standard CDs. Being able to deposit additional funds during the CD term is a valuable perk that may be worth accepting the lower rates.

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First Mid Bank & Trust Money Market Accounts

First Mid Bank & Trust offers one money market account: the Retail Money Market. This account comes with tiered interest rates, rewarding higher balances with higher rates. You’ll need at least $1,000 to open the account and avoid paying the monthly maintenance fee.

• APY ranges from to .
• The account will be charged a monthly maintenance fee of $5 when the daily balance falls below $1,000.
• The online application for a money market account is available on the bank’s website.
• The number of transactions is limited to six per statement cycle, or you pay a $5 excess withdrawal fee.

First Mid Bank & Trust Money Market Accounts

Start Banking

Best For

Banking in Illinois

Mobile App

Loan Options

Low Monthly Fees

Low Minimum Deposit

Accessible Money Market Account

First Mid Bank & Trust’s Retail Money Market account offers tiered interest rates, unlimited ATM access, and a low opening deposit, though it has monthly fees for balances below $1,000 and transaction limits.

Fees

Waivable $5 monthly fee

APY

Up to

Min Opening

$1,000

Pros

• Unlimited ATM access
• Lower opening deposit
• Pays a higher APY than a First Mid savings account

Cons

• Maintenance fee for balances below $1,000
• Limited number of transactions each month 

Quick Take

First Mid Bank & Trust’s Retail Money Market account is accessible with a low opening deposit and tiered interest rates. Unlimited ATM access adds flexibility, but withdrawal limits make that convenience less practical if you need to take out money frequently. For those who maintain higher balances, it’s a practice choice with modest benefits.

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Banking Experience

As a First Mid Bank & Trust customer, you have access to the bank’s mobile app on Google Play and the App Store. The app has many useful features, including balance check, transaction history and funds transfer.

Users mention the app’s intuitive design and reliable performance, especially the convenience of seeing balance updates in real-time. Customers also note the responsiveness and helpfulness of the customer service team.

How Does First Mid Bank & Trust Compare?

Understanding how the products at different banks meet your financial needs can help you find the right community bank. Below is a breakdown of how First Mid compares to some alternatives.

Checking

Savings

CDs

Money Market

SELECTED BANK

First Mid Bank & Trust Checking Accounts

Start Banking

MOST COMPARABLE

Bremer Bank Checking Accounts

Read Review

MOST COMPARABLE

4.2

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Valley National Bank Checking Accounts

Read Review

Fees

Fees

Fees

$3 to $7.95, with some waivable options

Waivable $3 to $10 monthly

$0 to $15

APY

APY

APY

to

Min Opening

Min Opening

Min Opening

$25 to $1,000

$100

$25 to $100

SELECTED BANK

First Mid Bank & Trust Savings Accounts

Start Banking

MOST COMPARABLE

Bremer Bank Savings Account

Read Review

MOST COMPARABLE

Valley National Bank Savings Accounts

Read Review

Fees

Fees

Fees

$0 to $1

$4 for customers over 21 years old

$4, waivable

APY

APY

APY

Up to

Up to

Min Opening

Min Opening

Min Opening

$0 to $100

$50

$100

SELECTED BANK

First Mid Bank & Trust CD Accounts

Start Banking

MOST COMPARABLE

Bremer Bank CD Accounts

Read Review

MOST COMPARABLE

3.9

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Valley National Bank CD Accounts

Read Review

Fees

Fees

Fees

No monthly service fee

No monthly service fee

No monthly service fee

APY

APY

APY

Up to

to

Up to

Min Opening

Min Opening

Min Opening

$1,000

$500

$500

SELECTED BANK

First Mid Bank & Trust Money Market Accounts

Start Banking

MOST COMPARABLE

Bremer Bank Money Market Accounts

Read Review

MOST COMPARABLE

3.0

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Valley National Bank Money Market Accounts

Read Review

Fees

Fees

Fees

Waivable $5 monthly fee

$10 to $25 monthly

$0 to $25, waivable

APY

APY

APY

Up to

to

Min Opening

Min Opening

Min Opening

$1,000

$1,000

$0

First Mid Bank & Trust vs. Busey Bank

You can open a Bridge Savings account at Busey Bank with a $25 deposit, but you’ll need at least $25,000 to open and maintain a Premium Savings account with the bank’s best interest rates.

Unlike Busey Bank’s Premium Savings, First Mid’s high-yield account has no minimum balance requirement to maintain the rate, making it more accessible to savers who want greater flexibility.

First Mid Bank & Trust vs. First Bank

First Bank offers significantly higher APYs for CDs compared to First Mid APYs. However, First Mid Bank & Trust has a lower opening deposit, which makes the accounts more accessible for investors with less money.

Although First Bank may appeal to customers looking for higher returns, a First Mid CD may be attractive to someone who wants a lower initial deposit requirement and banking simplicity.

First Mid Bank & Trust vs. Wintrust

First Mid Bank & Trust’s Classic Checking requires a $100 opening deposit and has a monthly fee you can avoid by meeting balance requirements, while the Premier Checking adds tiered interest and perks like free checks and ATM fee waivers.

Wintrust’s Total Access Checking has no monthly fees and comes with free ATM access, while Access Plus Checking pays interest on balances. For fee-free flexibility and bonuses, Wintrust stands out, but First Mid may be better suited for those who want financial services discounts and can maintain higher balances.

Is First Mid Bank & Trust Legit and Safe?

Yes. First Mid Bank & Trust operates as a regulated financial institution under federal and state banking oversight.

The Federal Deposit Insurance Corp protects deposits at federally insured banks. The FDIC insures deposits up to $250,000 per depositor, per insured bank, per ownership category, helping safeguard customer funds.

Consumers can verify a bank’s insurance status using the FDIC’s BankFind database.

Pros and Cons

Pros

• Community-focused banking approach
• Range of deposit and lending products
• Personalized branch support
• Wealth management and trust services

Cons

• Limited geographic footprint
• Savings rates may be lower than online banks
• Digital tools may vary compared with national banks

Final Take to GO: Is First Mid Bank & Trust Worth It?

This First Mid Bank & Trust review shows the bank can be a strong option for customers who value community banking and personalized financial services. Individuals and businesses located near First Mid branches may benefit from relationship-driven banking and local lending expertise.

However, customers seeking nationwide branch access or the highest savings rates may prefer large national banks or online financial institutions. Comparing account features, fees and interest rates can help determine whether First Mid Bank & Trust fits your financial goals.

Before opening an account, review the bank’s account disclosures and compare available options to ensure the bank aligns with your banking needs.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of March 5, 2026. 

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.

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