The First State Bank is advertising two competitive CD specials. One is a 1.40% APY 13-month CD and the other is a 1.25% APY 7-month CD. Minimum deposit is $5,000, and the maximum is $100,000. These don't appear to be listed on the bank's website. They were advertised in today's (1/30/2011) edition of The Oklahoman. The ad is available online here. According to the ad, these specials are scheduled to end on February 4, 2011.
Compared to internet banks on 1/30/2011, the best 12-month CD rate is 1.36% APY at Bank of Internet USA and the best 6-month CD rate is 1.10% APY at Colorado Federal Savings Bank.
The ad lists two branches in Oklahoma City and Midwest City. The bank also has a branch in Canute.
If this bank sounds familiar, it might be due to a bank with the same name being closed by regulators last Friday. That First State Bank was based in Camargo, OK. That's one downside with having a common name.
The bank has an overall health score at DepositAccounts.com of 3 out of 5 with a Texas Ratio of 8.40% (excellent) based on September 2010 data. Please refer to our financial overview of The First State Bank for more details. The bank has been a FDIC member since 1958 (FDIC Certificate # 17884).
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