First Citizens Bank had been offering 2% 11-month CD specials in South Florida and in Southern California for the last couple of months. They're being offered at the branches in the banks that First Citizens acquired from the FDIC after bank closures. I called First Citizens on Friday to check the status of these specials, and it appears these may be ending soon.
I first called First Citizens in Florida, and I was told the 2.02% APY 11-month CD special is scheduled to expire at the end-of-day Monday 5/3/2010. This special is available at the branches of the former Sun American Bank which was acquired by First Citizens from the FDIC when Sun American was closed by regulators on March 5th. I have more details of this special and branch locations in this March review.
I also called First Citizens regarding the SoCal CD special. I was told their 2% APY 11-month CD special continues, but it may be ending in the next week. This special is available at the branches of the former Temecula Valley Bank. First Citizens acquired Temecula Valley from the FDIC when Temecula Valley Bank was shutdown in July 2009. This CD special used to be listed in the old Temecula Valley website, but it has been moved to the First Citizens website and I can't find any mention of this special. I have more details about this special and the branch locations in this March review.
These CD specials show why it's a good idea to keep an eye on the branches of failed banks. The acquiring banks will often offer nice CD deals in an attempt to maintain deposits.