3.00% 24-Month CD at First City Bank in NW Florida - Local Only

First City Bank is offering some competitive CD rates. The best deals include a 2.40% APY 12-month CD, a 3.00% APY 24-month CD, a 3.25% APY 36-month CD and a 4.00% APY 60-month CD. Minimum deposit is $1,000. They also offer a 2.42% APY 12-month IRA and a 3.03% APY 24-month IRA. These rates are listed in the bank's rates page as of the morning of 6/04/09.

I called the bank yesterday, and was informed by the CSR that they require a branch visit for opening CDs. They also offer a reward checking account which currently pays 3.51% APY for balances up to $50K. Unlike CDs, you can apply online from any state to open this reward checking account (see post).

Branches are located in the Florida Panhandle cities of Fort Walton Beach, Destin and Mary Esther.

The bank's ratings for safety and soundness are weak: 2 stars (problematic) at BauerFinancial and 1 star (lowest) at Bankrate.com. Both ratings are based on 12/31/08 financial data. The bank has been FDIC insured since 1948 (FDIC Certificate # 16748).

Other High Certificate of Deposit Rates

For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.

Tags: First City Bank, CD rates, IRA rates, Florida