FirstBank Review: Regional Bank With an Account for Everybody

GOBankingRates Score

GOBankingRates Best Banks 2023 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.
Quick Take: FirstBank offers personal and business checking and savings accounts, as well as loans and credit cards. The bank offers different products for different life stages, from no-frills checking and savings to time-deposit (CD) accounts and a 55-plus checking account.
  • Fees
  • Interest Rates
  • Breadth of Products
  • Mobile App
How did we calculate this?


  • Wide range of products 
  • Linked checking and savings accounts 
  • Interest-bearing checking accounts 
  • Account opening bonus 


  • Low interest rates on savings 
  • Limited number of free ATMs 

About FirstBank

FirstBank is a regional bank that was started in 1963 and has 127 locations in Arizona, California and Colorado. The bank offers a full suite of personal and business banking and lending products, with online banking and a mobile app. FirstBank has assets of $19 billion. GOBankingRates ranked FirstBank among its Top 100 Banks for 2022.

Checking Accounts

FirstBank’s Anywhere Account has no minimum balance and no monthly fees. No fees, no frills — just a basic checking account.

The Bloom Package is a checking and savings bundle that also has no minimum balance and no monthly maintenance fees. It pays interest at the rate of 0.01% APY on the savings account, regardless of balance. No interest is paid on the money in the checking account.

The Bloom Package encourages automatic savings by making transfers from checking into savings every time you use your debit card, use bill pay or have an electronic funds transaction. You can choose to round up your transaction to the next whole dollar and transfer the difference, or you can select a transfer amount up to $99.99.

There are some uncommon fees associated with the Bloom Package. It includes a Visa debit card, which has a $10 annual fee unless you’re under 26 years old. There’s a $1.00 fee per check after the first three in a statement cycle, and a $0.10 fee for each savings deposit after the first 25 in a statement cycle.

Premier Checking requires a $2,500 minimum balance to earn interest at a rate of 0.01% APY, and to waive the $20 monthly service charge. You also can waive the service charge with $1,000 in direct deposits or with a combined $20,000 average balance across all your accounts.

FirstBank also offers a 55-Plus Checking Account with no minimum balance and no service fees. If you maintain a $500 balance, you earn interest at the rate of 0.01% APY.

Savings Accounts

The Regular Savings account at FirstBank has a $100 minimum balance requirement to waive the $5 quarterly service charge. This account pays 0.01% APY regardless of balance.

The Bloom Package is a savings and checking bundle that also has no minimum balance and no monthly maintenance fees. It pays interest at the rate of 0.01% APY on the savings account, regardless of balance.

Liquid Asset savings is an account for those who keep a relatively high balance in their savings account. A $20,000 minimum balance is required to waive the $20 monthly service charge. You can write up to six checks per statement period from this account. It pays 0.01% APY regardless of balance.

Money Market Accounts

Money Market Checking has a $500 minimum balance; and, if you maintain it, you’ll avoid the $7 monthly service charge. It includes check writing and a debit card. You’ll earn 0.01% APY as long as your balance is over $500.

Money Market Savings has a minimum balance of $1,000 to waive the $10 monthly service charge. You can write up to six checks per statement cycle, and there’s a $0.10 charge per deposit item if you exceed 25 items in a month. Interest is paid at the rate of 0.01% APY regardless of your account balance.

Time Savings

FirstBank offers Time Savings accounts, which pay a fixed rate of interest depending on the term you choose when you open the account. These are similar to CDs. There are three types of time savings accounts.

The Time Savings Account has a $100 minimum balance. If your account falls below this minimum, there’s a service charge of $5 per quarter. You can make additional deposits during the term, but the maturity stays the same.

91 days 0.02%
1 year 0.10%
2 years 0.10%

The Time Deposit Account has a minimum deposit of $500. You can make only a single deposit into this account.

91 days 0.02%
182 days 0.02%
1 year 0.10%
2 years 0.10%
3 1/2 years 0.20%
5 years 0.40%

The Premier Time Account has a $10,000 minimum balance, and you can make just one deposit in the account.

91 days 0.02%
182 days 0.02%
1 year 0.10%
2 years 0.20%
3 1/2 years 0.30%
5 years 0.50%

Best Features 


FirstBank’s accounts are virtually devoid of fees, but in some cases the requirements to avoid those fees are restrictive. And if you use an ATM that’s not one of FirstBank’s, you’ll pay $2.50 in addition to whatever the other bank charges.

Interest Rates 

FirstBank pays interest on many accounts, including some checking accounts. The rate is very low, however — in most cases, with the exception of time deposits, you’re earning 0.01% APY. There’s no incentive to open an account with a higher minimum balance requirement if there’s no difference in the interest rate.

Breadth of Products 

FirstBank offers a range of checking and savings accounts to meet just about every banking need. Whether you’re just starting out and looking for a no-frills checking account or you’re looking for a place to safely stash a pile of cash, you can find an account here. 

Mobile App 

FirstBank’s mobile app is rated highly, garnering 4.8 out of 5 stars on both the Apple App store and Google Play. Most users laud the easy navigation and ability to conduct nearly all banking activities on the app.

Other Factors to Consider 

FirstBank is currently offering a $300 bonus for opening a Bloom Package (checking and savings). To qualify, you can open the account online or at a branch. You must have a direct deposit of at least $500 per month for three months.

FirstBank serves just three states: Arizona, California and Colorado. It has 127 branches, and just over 200 ATMs. If you use an ATM that’s not one of theirs, it will cost you $2.50, in addition to what the other bank may charge.

Editor’s Favorite

The Bloom Package account links checking and savings and pays interest on the savings account regardless of your balance. It’s relatively easy to meet the requirements to avoid the monthly service charge. Plus, you can get a $300 bonus if you’re a first-time customer opening a Bloom Package.

FirstBank vs. Competitors

When choosing a new bank, you want to compare your options so you can select the one that’s best for you. Here are some of FirstBank’s competitors and how they stack up.

FirstBank vs. Bellco Credit Union

Bellco Credit Union is one of Colorado’s largest credit unions. It offers a checking account that pays 2.25% APY on balances up to $25,000. Account holders get free access to over 30,000 ATMs. However, you need to be a member to open an account.

FirstBank vs. Chase Bank

Chase Bank is a national bank with a very robust product line. If credit card options are important to you, Chase has a credit card for just about everybody. They also have 4,700 branches and 16,000 ATMs.

FirstBank vs. Marcus by Goldman Sachs

Marcus by Goldman Sachs is an online bank that offers comparatively high rates on CDs. Their nine-month CD pays 0.55% APY, higher than even the five-year time deposit rate at FirstBank.

Final Take

FirstBank is a regional bank that offers most of the financial services products most people need. There are a number of fee-free options that will let you keep more of your money instead of spending it on bank fees. Interest rates on savings are comparatively low, however.

FirstBank FAQ

Here are answers to some of FirstBank’s more commonly asked questions.
  • Who owns FirstBank? 
    • FirstBank is privately held and owned by FirstBank Holding Company.
  • Does FirstBank have brick-and-mortar branches? 
    • Yes, FirstBank has 127 branches in Arizona, California and Colorado.
  • Does FirstBank use Zelle? 
    • Yes. With the FirstBank mobile app, you can use Zelle to send money to friends and family who also have Zelle.

Rates are subject to change. Information on accounts is accurate as of Apr. 26, 2022.

This content is not provided by FirstBank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by FirstBank.

Is this your bank?

Stay Up to Date on the Latest From Your Bank

Keep a good thing going with top financial tips and advice from GOBankingRates.

Please enter an email.
Please enter a valid email address.
There was an unknown error. Please try again later.

Thank You For Signing Up!

Get ready to receive top financial tips from the experts at GOBankingRates.

Take Advantage of our Best Offer(s)

Share this article:

About the Author

Karen Doyle is a personal finance writer with over 20 years’ experience writing about investments, money management and financial planning. Her work has appeared on numerous news and finance websites including GOBankingRates, Yahoo! Finance, MSN, USA Today, CNBC,, and more.
Learn More