2.35% 24-Month CD at Broward Bank of Commerce in FL - Local Only

Broward Bank of Commerce is offering a competitive 2-year CD which has a 2.35% APY. The other CD terms are not as competitive. The only other one of note is the 5-year CD which has a 3.15% APY. These are also available in an IRA. Another noteworthy account is the bank's money market account. It's a tiered account with a 1.45% APY for balances of $10K to $50K. The yield goes up to 2.10% APY, but this requires a $1 million balance. These rates are listed in the bank's rate sheet as of 2/23/2010.

I last reported on this bank in October 2009 when the money market account had a 2% APY on $10K balance.

Broward Bank of Commerce is a small bank with one office located in Fort Lauderdale.

The bank was just established in January 2009, so it's too new to have ratings for safety and soundness. It has been a FDIC member since it was established (FDIC Certificate # 58813).