First State Bank is listing on its home page its Barbell Investment Strategy which includes a top yield for a money market account and a 7-year CD. The yields are in fact quite competitive. The 7-year CD has a 3.80% APY. The money market account has tiered rates with a top rate of 1.39% APY for balances of at least $90K. The rates fall quite a bit for lower rates: 0.90% for $50K-$90K and 0.79% for $25K-$50K. There's also a competitive 5-year CD: 3.04% APY (3.15% APY for a $100K minimum). These yields are listed in the bank's rates page as of the morning of 9/01/2010.
It appears that a branch visit is required to open an account. Branches are located in the Central Texas cities of New Braunfels, Canyon Lake, Gruene, Bastrop and Smithville. These cites are close to Austin and San Antonio. Before making a long drive, make sure to call to ensure they accept deposits from outside their local market area.
The bank's overall health score is 4 out of 5 with a Texas Ratio of 4.66% at DepositAccounts.com (see our financial overview of First State Bank). The bank has been a FDIC member since 1934 (FDIC Certificate # 2413).
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