2.32% 24-Month CD at American Bank of Commerce in TX & CO - Local Only

American Bank of Commerce is offering a competitive 2-year CD yield of 2.32% APY. Minimum deposit is $1,000. This CD rate isn't listed at the bank's website. A reader emailed me news of this, and I just contacted the bank for additional details. The CSR didn't know how long this rate would last. It has been this rate since January. According to the CSR, this rate is available at all of their branches. The early withdrawal penalty is 90 days of interest.

A branch visit is required to open an account. Branches are located in Texas cities of Austin, Lubbock, Mansfield, Plano and Wolfforth, and in the Colorado cities of Pueblo and Colorado Springs.

The bank's ratings for safety and soundness are a little mixed: 3½ stars (good) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 9/30/09 financial data. The bank has been a FDIC member since 1962 (FDIC Certificate # 18609).