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First Bank of Boaz

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Konstantin Tochonyi - CEO Finanso®
Konstantin Tochonyi - CEO Finanso®

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About

The First Bank of Boaz is a financial institution located in Boaz, Alabama. It was founded in 1906 and offers a range of financial services including personal and commercial banking, loans, mortgages, and online banking.

The bank is dedicated to serving the community of Boaz and surrounding areas, and has a reputation for providing excellent customer service.

The First Bank of Boaz is regulated by the Federal Deposit Insurance Corporation (FDIC) and is a member of the MoneyPass network, which allows its customers to use ATMs across the country without incurring additional fees.

Key Features

Here are some of the key features of the First Bank of Boaz:

  1. Online Banking. The bank provides online banking services that allow customers to manage their accounts, pay bills, transfer funds, and view transaction history from anywhere with an internet connection.
  2. FDIC Insured. The financial institution is a member of the Federal Deposit Insurance Corporation (FDIC), which insures deposits up to $250,000 per depositor.
  3. MoneyPass Network. The bank is a member of the MoneyPass network, which allows its customers to use ATMs across the country without incurring additional fees.
  4. Community-oriented. The First Bank of Boaz is committed to serving the community of Boaz and surrounding areas, and has a reputation for providing excellent customer service.

Requirements

The requirements for opening an account at the First Bank of Boaz may vary depending on the type of account you wish to open. Here are some general requirements:

  1. Identification. You will need to provide a valid government-issued photo ID such as a driver's license or passport.
  2. Social Security Number. You will be required to provide your Social Security number or tax identification number.
  3. Proof of address. You will need to provide a document that shows your current address, such as a utility bill or bank statement.
  4. Minimum Deposit. The bank may require a minimum deposit to open an account. The amount may vary depending on the type of account.
  5. Additional Documentation. Depending on the type of account, you may be required to provide additional documentation such as proof of income or business registration documents.

It's always best to contact the bank directly to confirm their specific requirements and to ensure that you have all the necessary documents before opening an account.

Access on the Go

The First Bank of Boaz provides access to their banking services on the go through mobile banking. Here are some of the ways you can access your account on the go:

  1. Mobile App. The bank offers a mobile app that can be downloaded to your smartphone or tablet. With the app, you can check your account balance, transfer funds, pay bills, and view transaction history.
  2. Mobile Website. The bank also provides a mobile website that can be accessed through your mobile device's web browser. You can log in to your account and perform many of the same functions as the mobile app.
  3. Text Banking. You can also access your account information through text messaging. Once you enroll in the service, you can send a text message to the bank and receive your account balance, recent transactions, and more.

With these mobile banking options, you can easily manage your finances while on the go, giving you the flexibility to bank from wherever you are. It's important to note that standard messaging and data rates may apply for text banking and mobile app usage.

Products and Services

The First Bank of Boaz offers a range of products and services to its customers:

  1. Checking Accounts. The bank offers a variety of checking accounts to fit the needs of different customers.
  2. Savings Accounts. The bank offers a range of savings accounts, including Regular Savings, Money Market Accounts, and Investment Accounts.
  3. Certificates of Deposit (CDs). CDs offer a fixed interest rate for a specific term. The First Bank of Boaz offers CDs with terms ranging from 3 months to 60 months.
  4. Loans. The bank provides various types of loans, including personal loans, auto loans, home equity loans, and commercial loans.
  5. Mortgages. The bank offers mortgage services for purchasing or refinancing a home.
  6. Debit and Credit Cards. The bank offers both debit and credit cards to its customers.
  7. Other Services. The financial institution offers additional services such as safe deposit boxes, notary services, wire transfers, and overdraft protection.

It's always best to check with the bank directly for a full list of their offerings and any specific terms and conditions.

Which associations does First Bank of Boaz belong to?

The First Bank of Boaz is a member of several associations, which help the bank to provide better services to its customers and stay up-to-date with industry best practices. Here are some of the associations that the bank belongs to:

  • Federal Deposit Insurance Corporation (FDIC). The FDIC is a United States government corporation that provides deposit insurance to protect customers' deposits in case of bank failures. The First Bank of Boaz is a member of the FDIC, which insures deposits up to $250,000 per depositor.
  • MoneyPass Network. This is a nationwide surcharge-free ATM network that allows customers of participating banks to use ATMs without incurring additional fees. The First Bank of Boaz is a member of the MoneyPass Network, which gives its customers access to a large number of ATMs across the country.
  • Independent Community Bankers of America (ICBA). This is a national trade association that represents community banks in the United States. The First Bank of Boaz is a member of the ICBA, which helps the bank stay informed about regulatory changes and industry trends.
  • Alabama Bankers Association (ABA). It is a trade association that represents banks and financial institutions in the state of Alabama. The First Bank of Boaz is a member of the ABA, which provides the bank with access to resources and advocacy efforts specific to the state of Alabama.

    These associations are just some of the organizations that the First Bank of Boaz belongs to. By participating in these groups, the bank can better serve its customers and stay current with the latest developments in the banking industry.

    First Bank of Boaz

    FAQ

    Who owns First Bank of Boaz?

    The First Bank of Boaz is owned by Boaz Bancorp, Inc., which is a holding company for the bank. Boaz Bancorp, Inc. is a publicly traded company, which means that it has shareholders who own the company's stock. The stock is traded on the OTCQX market under the ticker symbol "BOAZ."

    While Boaz Bancorp, Inc. owns the First Bank of Boaz, the bank operates independently and has its own board of directors and management team.

    Is First Bank of Boaz a good bank?

    The First Bank of Boaz is a community bank that has been serving its customers for over a hundred years. It offers a range of products and services, including checking and savings accounts, loans, mortgages, and online banking. The bank is a member of several associations, such as the FDIC, MoneyPass Network, ICBA, and ABA, which help it provide better services to its customers and stay up-to-date with industry best practices.

    The bank has received some recognition for its services. For example, it was named "Best Bank in Marshall County" by The Advertiser-Gleam in 2019 and 2020. Additionally, the bank has a rating of 4.4 out of 5 stars on Google Reviews, as of March 2023, with customers praising the bank's friendly staff and excellent customer service.

    However, it's important to note that the quality of a bank's services can vary depending on individual experiences and needs. It's always a good idea to do your own research and evaluate the bank's products, services, fees, and customer support before opening an account. You may also want to compare the bank's offerings to other banks in the area to ensure that you are getting the best fit for your financial needs.

    Is First Bank of Boaz hard to get approved for?

    First Bank of Boaz has its own set of requirements and criteria for loan and credit applications, which can vary depending on factors such as credit score, income, debt-to-income ratio, and other financial information.

    Typically, to be approved for a loan or credit at any bank, you will need to meet the bank's creditworthiness standards, which can vary from bank to bank. This means that the bank will evaluate your credit history, income, and other financial information to determine whether you are a good candidate for the loan or credit product.

    If you're interested in applying for a loan or credit at the First Bank of Boaz, you may want to contact the bank directly to learn more about their specific requirements and criteria for approval. The bank's website or customer service representatives can provide more information on the application process, required documentation, and other details that may affect your chances of approval.

    First Bank of Boaz disputes number

    If you have a dispute or need to dispute a transaction with the First Bank of Boaz, you can contact their customer service department by calling at 1-256-593-8670 phone or in person at one of their branch locations.

    When you call the customer service department, be prepared to provide your account information and a detailed description of the dispute or transaction that you are disputing. The bank's customer service representatives will then work with you to investigate the dispute and resolve the issue as quickly as possible.

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    Update 03.03.2023

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