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First American Bank is a bank operating out of Southeast Louisiana that was founded way back in 1910. First American Bank and Trust (FABT) was founded by 8 citizens and has served the Louisiana area for over 100 years. They currently employ over 200 people and hold more than $850 million in assets. 

FABT offers CDs which are some of the safest ways that you can invest your money. In order to open a CD account, you must be a FABT customer with an account. FABT offers variable CDs with maturation dates ranging from a quick 1 month to a standard 5 years. All FABT CDs have a $1,000 deposit, which is normally the standard minimum deposit for CDs. 


Taken from FABT.com: The annual percentage yield is accurate as of the above date. Fees could reduce earnings on the account. A penalty will be imposed for early withdrawal.

Here is a quick rundown of the different CD rates that are offered:

  • 1 month 0.15%
  • 2 month 0.15%
  • 3 month 0.15%
  • 6 months 0.40%
  • 12 months 0.60%
  • 18 month 0.60%
  • 24 month 0.75%
  • 36 months 0.85%
  • 48 month 0.95%
  • 60 month 1.00%

These interest rates are accurate as of August 2020 although they are subject to change. FABT also charges fees on CD accounts which could affect the total amount gained. FABT also charges early withdrawal fees. Withdraw penalties are determined by how much you are withdrawing, how long into the original term you are, and how long the original term you signed up for is. 

FABT also offers automatic CD reinvestment. If your account reaches its maturity date and you do not withdraw it, then it will be redeposited into another CD account. 

FABT has offered special CD accounts in the past, but they are not currently offering special CD accounts. Though, they may start offering them again in the future.

Overall, FABT offers good service and competitive CD rates over a wide range of time frames. Like many branches, they offer automatic depositing when CD time frames are up and there are different flexible time options to choose from.  

Aside from CD accounts, FABT offers standard bank services like checking accounts, savings accounts, loans, and more. The checking account is free with a $100 minimum deposit.

All accounts from FABT are FDIC insured to the maximum amount allowed by the law and do not have any monthly or yearly service fees. Some benefits of opening a CD account at FABT include competitive rates, free online services, and access to traditional bank features. 

Many customers also claim that FABT’s customer support is top-notch and they take great care of their customers. FABT also has a good online interface which makes dealing with all of your accounts much easier. 

To sum up, FABT is a great choice for CD accounts if you live in Louisiana and want a CD account that has fairly standard rates and excellent customer service. It is a good choice for people just starting out or those who are looking to make a change from their existing branch.