Flagler Bank continues to offer competitive short- and mid-term CD rates. The rates have fallen a little since my April post. The best rates include a 2.10% APY 24-month CD, a 1.75% APY 18-month CD, a 1.50% APY 12-month CD and a 1.30% APY 6-month CD. Minimum deposit is $500, and these rates also apply to business CDs. The 1-year and 2-year terms are also available in an IRA. These rates are listed at the bank's rates page as of the morning of 5/13/2010.
It appears a branch visit is required to open an account. Branches are located in the South Florida cities of West Palm Beach, North Palm Beach and Fort Lauderdale.
The bank's ratings for safety and soundness are a little low: 2 stars (problematic) at BauerFinancial, 2 stars (below peer group) at Bankrate.com and an overall health score of 2 out of 5 at DepositAccounts.com (see our Flagler Bank rates and reviews page). These ratings are based on 12/31/09 financial data. The bank has been a FDIC member since 2000 (FDIC Certificate # 35218).
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