BBCN Bank has two good deposit deals. The first is a money market account special for consumers only. The bank is guaranteeing a 1.00% APY until 12/31/2014 for balances of $50,000 to under $1 million. The second special is a CD promotion for consumer and business customers. It’s a 12-month CD with a 1.10% APY. Minimum deposit is $50,000, and the maximum is $250,000 per customer. Both offers require new money to the bank. The promotion is scheduled to end when the bank’s deposit goal amount is met or on 12/31/2013, whichever comes first.
Thanks to the reader who emailed me news of these promotions. They’re not listed on the bank’s website. I called today and verified that they should be available at all of the bank’s branches. A branch visit is required to open these accounts.
BBCN Bank branches are located in several major cities in the states of California, Washington, Illinois, Virginia, New Jersey and New York.
BBCN Bank is the largest U.S. bank focused on the ethnic Korean market. It used to have the name Center Bank before 2011. The bank continues to grow from acquisitions. In 2011, it acquired Nara Bank in Los Angeles, and this year it has acquired Pacific International Bank in Seattle and Foster Bank in Chicago.
The bank has an overall health grade at DepositAccounts.com of an A+ with a Texas ratio of 9.10% (above average) based on June 2013 data. Please refer to our financial overview of BBCN Bank for more details. The bank has been a FDIC member since 1986 (FDIC Certificate # 26610).