John Marshall Bank continues to offer several good deals on CDs. Rates have fallen since my last report of this bank in February, but the CD rates are still competitive. The best ones are a 1.51% APY 2-year CD, a 1.76% APY 3-year CD and a 2.32% APY 5-year CD. Minimum deposit is $500. These rates are listed in the bank's rate sheet as of 11/30/2011. There's a link to the rate sheet at the bank's personal banking webpage.
To open an account, you must be a resident of the Washington DC, Maryland or Virginia. John Marshall Bank branches are located in the Virginia cities of Arlington, Falls Church, Leesburg, in Washington DC, and in Rockville, Maryland.
The bank has grown quite a bit in the last few years. It's number two on BestCashCow's list of the fastest growing banks in the country. In that BestCashCow article, the John Marshall Bank president was interviewed and asked about its recent growth. He said that being a new bank "has helped us a great deal" allowing them to avoid much of the real estate problems. Our financial health score does show them to be in good shape. It has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 5.73% (excellent) based on September 2011 data. Please refer to our financial overview of John Marshall Bank for more details. The bank has been a FDIC member since 2006 (FDIC Certificate # 58243).
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