4.75% 15-Month CD at a Georgia Bank (First Georgia Community)

First Georiga Community Bank is offering a special 4.75% APY 15-month CD. The minimum deposit is $500. The special is listed on the bank's front page.

It appears the bank requires a branch visit to open a new account. Branches are located in the Georgia cities of Jackson, Covington, Griffin and Locust Grove which are located about 20 miles southeast of Atlanta.

This is another bank that has been badly hurt by the housing slump. This AJC article notes the high "Texas ratio" of this bank, but it has recently been able to raise capital from its directors. As you would suspect, its financial ratings are low: 0 stars at BauerFinancial and 1 star (lowest) at Bankrate.com. Both are based on 3/31/08 data. The bank has been FDIC insured since 1997 (FDIC Certificate # 34301).

Thanks to the reader who emailed me info on this CD.

Tags: Georgia, CD rates