First National Bank continues to offer some competitive CD rates. The two most competitive are a 2.78% APY 24-month CD and a 2.18% APY 12-month CD. Minimum deposit is $1,000. The rates are a little higher for a $100,000 minimum deposit: 2.25% APY for 12 months and 2.85% APY for 24 months. These rates are not listed at the bank's website. I was reviewing my old posts, and I noticed they had some high rates last month. So I called again today, and confirmed that the above rates are valid as of 11/24/09. The CSRs didn't know how much longer these rates would last.
A branch visit is required to open an account. These CD rates appear to be available at all of their branches, but I recommend calling your local branch to confirm. I've confirmed these rates in Austin, Dallas and Houston. Branches are also located in the Texas cities of Fort Worth, El Paso, San Antonio, Corpus Christi, Laredo and Edinburg.
The bank's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 6/30/09 financial data. The bank has been a FDIC member since 1934 (FDIC Certificate # 14318).
Update 12/11/09: I called the bank today and confirmed that the above rates are still available. I also asked about the longer terms. These rates include 2.93% APY 36 months, 3.18% APY for 48 months and 3.43% APY for 60 months. Higher rates may be available for Jumbo CDs with a $100K minimum deposit. The CSR didn't know how much longer they would last so be sure to call to confirm.
Other Competitive Certificate of Deposit Rates
Another good CD deal that's still available for those in Texas (and probably in a few other states) is the 2.25% APY 11-month CD special from the Colonial branches of BB&T. I posted on this last week. I called one of the bank's Texas branches today, and it's still available. The CSR expects it to be available at least through Friday (it's closed on Thursday).
For other top CD rates, please refer to the following: