Dedicated to Deposits: Deals, Data, and Discussion

2.25% Money Market Account at State Bank & Trust Company in Georgia - Local Only

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State Bank & Trust Company is offering 2.25% APY on its money market account. The rate is guaranteed until 12/31/09. Minimum deposit is $2,500. Balances under $2,500 earn 0.50%, and there's a minimum balance of $1,000 to avoid a $5/month fee. This special is listed on this bank's page as of 10/04/09.

Most of the branches of this bank used to be part of the bank subsidiaries of Security Bank Corporation. All these bank subsidiaries were closed by regulators in July, and State Bank & Trust Company assumed all deposits.

It appears a branch visit is required to open an account. Branches are located in several Georgia cities including Macon, Alpharetta, Perry and Gary.

State Bank & Trust Company has fair ratings for safety and soundness: 3½ stars (good) at BauerFinancial (based on 6/30/09 data) and 3 stars (adequate) at Bankrate.com (based on 3/31/09 data). The bank has been a FDIC member since 2005 (FDIC Certificate # 57870).

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  Tags: money market accounts, First State Bank & Trust Company, Georgia

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