Deposit Services

Checking Accounts
A checking account can be more than just a place to keep your money. It can be a way to simplify your financial life by making managing money easier.

First Bank Richmond's First Choice Checking lets you select the type of checking account that best fits your financial needs. Click here, or on the account names below, for more information on each of our checking accounts.

First Choice BASIC

This account makes banking affordable with no monthly service fee and a package of free benefits.

First Choice PLUS

This account makes banking not only affordable but profitable, paying interest with a balance of $500.

First Choice ELITE

This account includes all of the benefits of our other checking accounts plus a tiered interest rate and our Community Entertainment Package worth hundreds of dollars.

First Choice COLLEGE

This account makes banking affordable and convenient for students with only $25 required to open

Savings Accounts
First Bank has savings accounts for our customers who are just starting out, those who want to earn market interest rates and those who want to set back money for the holiday season. Click here for more information about each of our savings accounts.

Statement Savings - This savings plan is designed for those just starting out and pays interest on any balance in the account. A low monthly maintenance fee if minimum balance is not maintained. There is no monthly service fee for minors under 18 years of age.

Money Market - This savings account earns market interest rates while providing daily access to funds.

Christmas Club - A savings account designed to help you save money for Christmas.

Kid's First Savings - developed exclusively for children, the Kid's First Savings Account is designed to grow with your child. This account promotes saving money and offers a competitive interest rate. Let a Kid's First Saving Account help your child learn how to save money and watch it grow.

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Certificates of Deposit
First Bank offers fixed- and variable-rate CDs in addition to our Community Pride CD supporting Wayne County high schools. Click here for more information about each of our Certificates of Deposit.

Fixed-Rate CDs - First Bank offers fixed-rate CDs in terms of 3, 6, 18 and 30 months and 1, 2, 3, 4 and 5 years. Minimum balance to open range from $500 to $5,000. Interest rates increase on a tiered level based on opening account balance.

Variable-Rate CDs - First Bank�s Escalator CDs can be opened for 3, 5, 7 or 10 years with a variable rate that is based on the Series EE Bonds. The minimum to open is $1,000 and a guaranteed minimum Annual Percentage Yield is declared when the CD is opened.

Community Pride CD - This 12-month certificate is offered every fall and the interest rate is determined by adding 0.10 percent to the base rate for each basketball game won by the Wayne or Shelby county boys basketball team of your choice. The minimum balance to open a Community Pride CD is $100.

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Individual Retirement Accounts
First Bank offers a variety of retirement accounts, including Traditional IRAs, Roth IRAs, Simplified Employee Pension (SEP) Plans and Coverdell Education Savings account. These accounts can be opened with fixed or variable rates.

Traditional IRA - Contributions may be deductible and earnings grow tax deferred.

Roth IRA - The Roth IRA gives you the ability to invest your after-tax dollars today, let the investment grow tax-deferred, and withdraw your principal and earnings tax-free after five years.

SEP Plan - Amounts contributed remain tax-deferred, as do their earnings, until withdrawn.

Coverdell Education Savings - Contributions and earnings are tax-free when withdrawn to pay for qualified education expenditures. Offered in four-year fixed rate CD only.

IRA Savings Account - This savings retirement plan is designed for those just starting their IRA investment and want to build their nest egg with small, regular investments. This is a variable rate IRA with a minimum of $100 to open and minimum deposits of $10 or payroll deduction.

Fixed-Rate IRAs - First Bank secures your IRA investment in a 2, 3, 4, 5, or 7 year fixed-rate CD. There is a minimum of $1,000 to open a fixed-rate IRA.

Variable Rate IRAs - First Bank offers several variable rate CDs, including the 18 month CD or 3, 5, 7 or 10 year Escalator CDs indexed on the Series EE Savings Bond rate. There is a minimum of $1,000 to open each of these IRA accounts and a guaranteed minimum rate is declared when the account is opened.

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Banking Services and Products