- Overall Rating
- Pros and Cons
- First General Bank Account Reviews
- About First General Bank
- How First General Bank Compares
- Why You Should Trust Us
- FAQs
Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate banking products to write unbiased product reviews.
The bottom line: First General Bank might be worthwhile if you'd like to be part of an Asian American-owned financial institution that serves local Southern California communities. The bank's strongest product is its First General Bank SuperVal Checking Account, which doesn't charge monthly service fees. But bear in mind the bank doesn't have an ATM network.
First General Bank Review: Overall Rating
| Feature | Insider rating (out of 5) |
| Savings | 3 |
| Checking | 3.25 |
| CD | 2.75 |
| Money market account | 2.75 |
| Trustworthiness | 3 |
| Total | 3 |
First General Bank Pros and Cons
| Pros | Cons |
|
|
First General Bank Account Reviews
First General Bank Savings Account
First General Bank Savings Account Read Review
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees$5 monthly service fee
Annual Percentage Yield (APY)0.10%
Minimum Opening Deposit$100
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fee
- con icon Two crossed lines that form an 'X'. Low interest rate
- con icon Two crossed lines that form an 'X'. $100 minimum opening deposit
- con icon Two crossed lines that form an 'X'. $5 monthly service fee
- Asian American-owned bank with 5 branches in Southern California
- To waive $5 monthly service fee, keep a daily balance of $500 or more in account
- Interest compounded daily and deposited monthly
- Member FDIC
The First General Bank Savings Account works best if you keep at least $500 in your account daily so you can avoid the $5 monthly service fee. If you don't think you can maintain that much money in your account, our best high-yield savings accounts guide has savings accounts without minimum balance requirements.
First General Bank SuperVal Checking Account
First General Bank SuperVal Checking Account Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Feesno monthly service fee
Annual Percentage Yield (APY)0.10% to 0.50%
Minimum Opening Deposit$100
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No out-of-network ATM fees
- con icon Two crossed lines that form an 'X'. $100 minimum opening deposit
- con icon Two crossed lines that form an 'X'. $20 overdraft fee
- con icon Two crossed lines that form an 'X'. No overdraft protection is available
- con icon Two crossed lines that form an 'X'. No ATM network
- con icon Two crossed lines that form an 'X'. No reimbursements if charged by an out-of-network ATM provider
- Asian American-owned bank with 5 branches in Southern California
- Tiered interest rate: Earn a higher interest rate on higher account balances
- Interest compounded and deposited monthly
- Member FDIC
The First General Bank SuperVal Checking Account is a solid checking account. It doesn't charge monthly service fees, and you'll earn some interest on your money.
Keep in mind First General Bank doesn't have an ATM network. If you frequently visit ATMs to make transactions, you might choose another bank instead.
First General Bank CD
First General Bank CD Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Annual Percentage Yield (APY)0.10% to 5.25%
Minimum Opening Deposit$2,500
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Standard early withdrawal penalties
- con icon Two crossed lines that form an 'X'. Low interest rate
- con icon Two crossed lines that form an 'X'. $2,500 minimum opening deposit
- con icon Two crossed lines that form an 'X'. No CD terms over 3 years
- Asian American-owned bank with 5 branches in Southern California
- Terms range from 7 days to 3 years
- CD early withdrawal penalties: For terms under 30 days, the penalty is all interest earned; For terms between 30 days and 1 year, the penalty is 30 days simple interest; For terms over 1 year, the penalty is 90 days simple interest
- Interest compounded daily and deposited monthly
- Member FDIC
A First General Bank CD might be a decent option if you have at least $2,500 for an initial deposit. However, online banks offer much higher interest rates right now.
First General Bank Money Market Account
First General Bank Money Market Account Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees$15 monthly service fee
Annual Percentage Yield (APY)0.10% to 0.15%
Minimum Opening Deposit$1,000
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fee
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Checks included
- con icon Two crossed lines that form an 'X'. Low interest rate
- con icon Two crossed lines that form an 'X'. $1,000 minimum opening deposit
- con icon Two crossed lines that form an 'X'. $15 monthly service fee
- con icon Two crossed lines that form an 'X'. No debit card
- Asian American-owned bank with 5 branches in Southern California
- Tiered interest rate: Earn a higher interest rate on a higher account balance
- To waive $15 monthly service fee, keep a daily balance of $2,500 or more in account
- Interest compounded daily and deposited monthly
- Member FDIC
The First General Bank Money Market Account offers the same tiered interest rate as the First General Bank SuperVal Checking Account, but you'll need to keep at least $2,500 in your account to avoid a $15 monthly service fee.
You may find it easier to maintain a First General Bank SuperVal Checking Account, or if you'd like to open a money market account, our best money market accounts guide has some strong contenders.
About First General Bank
First General Bank is an Asian American-owned bank with five branches in Southern California. The brick-and-mortar bank doesn't have an ATM network. You may use out-of-network ATMs, and First General Bank won't charge you a fee. If the ATM provider charges a fee, you'll have to pay it.
Customer service is available by phone from 9 a.m. to 4:30 p.m. PT Monday through Thursday, 9 a.m. to 6 p.m. PT on Friday, and 10 a.m. to 2 p.m. PT on Saturday.
First General Bank's mobile app is rated 4.8 out of 5 stars in the Apple store and 3.4 out of 5 stars in the Google Play store.
The brick-and-mortar bank is FDIC insured. You may deposit up to $250,000 in an individual bank account or $500,000 in a joint account, and it will be safe should the bank shut down.
Is First General Bank Bank Trustworthy?
First General Bank hasn't been involved in any recent public controversies.
We also include ratings from the Better Business Bureau, which rates businesses on transparent business practices and customer service issues. First General Bank doesn't have a rating from the BBB, though.
BBB ratings aren't necessarily the be-all and end-all. To get a well-rounded perspective of a bank, you may reach out to current customers or read online customer reviews.
The Role of Community Development Financial Institutions
Community development financial institutions, or CDFIs, serve low-income and disadvantaged communities. Banks and credit unions have to undergo certification by the US Department of Treasury's Community Development Financial Institutions Fund and meet specific requirements to address banking barriers.
In 2021, First General Bank participated in the Paycheck Protection Program and gave out loans to over 900 small business owners. Bank employees also completed over 500 hours in volunteering services.
How First General Bank Compares
First General Bank vs. Golden Bank
We've compared First General Bank to Golden Bank, an Asian American-led financial institution in California and Texas.
Both banks have free checking accounts. You may prefer the First General Bank SuperVal Checking Account if you'd like to earn some interest on your money.
Meanwhile, the Golden Bank Opportunity Checking Account might be appealing if you're looking for an account with a low minimum opening deposit. Be mindful of Golden Bank's monthly debit card transaction limit, though. If you make more than 10 debit card transactions per month, you'll pay a $0.50 fee for each extra transaction.
Golden Bank might also be ideal if you're like to open a CD at a brick-and-mortar bank. It has a variety of CD terms to choose from and pays a higher interest rate than the average CD.
First General Bank vs. Royal Business Bank
Royal Business Bank is an Asian American-led financial institution with locations in Southern California. See how the two banks stack up.
If you would like to open a strong checking account, you'll probably lean more toward First General Bank.
First General Bank has a free interest-earning checking account, so you won't have to worry about maintaining your account balance or meeting certain requirements. However, one of the major downsides to the account is that First General Bank doesn't have an ATM network.
Royal Business Bank might be worth exploring if you'd prefer to keep your money in a CD. Royal Business Bank pays decent interest rates on short-term CDs compared to other brick-and-mortar banks.
Why You Should Trust Us: How We Reviewed First General Bank
For our First General Bank review, we rated bank products and services using our editorial standards.
We rate products on a scale from zero to five stars, and use a bank account methodology
For example, using our CD methodology we'll review interest rates, minimum opening deposit requirements, early withdrawal penalties, CD variety, customer support availability, mobile app ratings, and ethics of the overall company. Meanwhile, for checking accounts, we'll factor in the ATM network size and fees, overdraft protection options, customer support hours, mobile app ratings, ethics, minimum opening deposit requirements, and fees.
First General Bank FAQs
Is First General Bank FDIC insured? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Yes, First General Bank is FDIC insured. Up to $250,000 is secure in an individual bank account, and $500,000 in a joint account.
Where is First General Bank located? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.First General Bank serves residents in Southern California. You may find locations in the following cities: Arcadia, CA; Artesia, CA; Irvine, CA; Rowland Heights, CA; and San Gabriel, CA.
Sophia Acevedo Banking Editor Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics.ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, and budgeting and saving. She is highly knowledgeable about long-term trends in rates and offers at banks across the U.S.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circumstances and overcoming their fears around money.ExpertiseSophia's expertise includes:- Bank accounts
- Savings and CD rate trends
- Budgeting
- Saving
- How banks operate
Evelyn He Compliance and Operations Associate Evelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice.The compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team. Read more Read less Top Offers From Our Partners 
Chime® Checking Account Set up Direct Deposit and get your paycheck up to 2 days before your coworkers.** No overdraft fees. No monthly fees. A tooltip Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. **Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. Start BankingEditorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
ncG1vNJzZmivp6x7o8HSoqWeq6Oeu7S1w56pZ5ufonyxsdGspqeZnGKzqrrAp5qeZ5KWu6y1zaBmn6GiqMFus8SnnKuZnGKvorrKZqmerpmaxA%3D%3D