First Bank of Central Ohio Offers Competitive 12-Month CD Special


Availability: 12-month CD Special, 0.75% APY, $500 minimum deposit

Availability: Greater Columbus (OH) metro area

Although summer is definitely over, First Bank of Central Ohio (FBCO) is still offering its competitive 12-month Grand Opening Summer CD Special. Earning 0.75% APY, the 12-month CD Special can be opened with a $500 minimum deposit, with no stated balance cap.

According to the FBCO official I spoke with, the Early Withdrawal Penalty is 90 days of interest, with partial withdrawals allowed.

Maturing funds will be distributed by check to the address on file or transferred to an FBCO savings account. There is a seven day grace period before a CD automatically renews.


Headquartered in Worthington, Ohio (a northern suburb of Columbus), First Bank of Central Ohio is the newest bank in the Columbus metro area, having opened its doors only eight months ago.

In a conversation with an FBCO official, I was told that FBCO’s market area is "generally the greater Columbus metro area," but applications from other Ohio residents may be considered. At this time, opening a CD Special requires an in-person visit to FBCO’s sole branch, located on High Street in Worthington.

Bank Overview

First Bank of Central Ohio has an overall health grade of "B+" at, with a Texas Ratio of 0.00% (excellent, and not a typo), based on June 30, 2021 data. FBCO has an excellent capitalization level (75.04%), the result of holding $35.83 million in assets with $26.88 million in equity. FBCO’s overall health grade is also influenced by its low asset base and its very short operating history. Please refer to our financial overview of First Bank of Central Ohio (FDIC Certificate # 59249) for more details.

Opening its doors in April, First Bank of Central Ohio is the third de novo bank established in the Columbus area in two years. By the end of the first month of operation, FBCO made $7.5 million in loans. As stated on FBCO’s website,

First Bank of Central Ohio is built by local business owners to serve our local business owners.

Consolidation of banks in Columbus over recent years has limited the choices for many area businesses. First Bank of Central Ohio was formed specifically to meet the growing need for more committed, highly dedicated banking resources.

How the CD Special Compare

When compared to 270 similar length-of-term CDs tracked by that are available within the market are and require a similar minimum deposit, First Bank of Central Ohio’s 12-month CD Special APY currently ranks third.

The above information and rates are accurate as of 11/10/2021.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.

Related Pages: Columbus CD rates, 1-year CD rates

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