A week ago, I wrote about BTH Bank’s Worry-Free Money Market account (1.78% APY, $500k+), which is indexed to the 1-Year Treasury rate. BTH Bank also offers two Worry-Free CDs that are also indexed to the Treasury rate: 30-month (2.04% APY) and 60-month (2.24% APY); of the two, the 30-month is the most competitive. The minimum opening deposit is $10k.
|2.38%||$10k||-||BTH Bank||60 Month Worry-Free CD|
|2.18%||$10k||-||BTH Bank||30 Month Worry-Free CD|
Although not listed on BTH Bank’s website, the Worry-Free CDs are also available as IRAs, earning the same Treasury-indexed APYs with the same funding requirements.
The rates are subject to change every three months after the account is opened. According to a sample Truth-In-Savings Disclosure sent by a very helpful CSR,
The adjusted interest rate will be the index existing on
the last business day of the previous month plus 0.85%.
The Worry-Free CDs also offer the option of unlimited additional deposits (at least $10k) that can be made through the term of the CD, with the exception of “within 30 days of final maturity.”
The Early Withdrawal Penalty for the 30-month Worry-Free CD is 180 days interest and 360 days interest for the 60-month Worry-Free CD.
Headquartered in Quitman, Texas, BTH Bank’s market area covers the “Prairies & Lakes and Piney Woods” regions, stretching from the greater Dallas metropolitan area eastward to Carthage.
Opening a Worry-Free CD can be done online, over the phone (903.763.2264) or at any of 13 Texas branches located in Carthage, Dallas, Hawkins, Henderson, Kilgore, Lindale, Longview (2), Mineola, Plano, Quitman, Tyler, and Winnsboro.
Minors, resident aliens and non-resident aliens may apply by contacting BTH Bank directly.
BTH Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 1.22% (excellent) based on March 31, 2017 data. In the past year, BTH Bank has increased its total non-brokered deposits by $260.75 million, an excellent annual growth rate of 37.78% APY. Please refer to our financial overview of BTH Bank (FDIC Certificate #3402) for more details.
BTH Bank is one of the few community banks in East Texas today, and has a history that stretches back more than 110 years. In 1905, W. M. Lloyd established a small, private bank in Quitman, which subsequently received a state charter in 1908, resulting in the First State Bank. A national charter was granted in 1914 and the First National Bank of Quitman took the stage. Almost 100 years later, the Bank had become BankTexas and,
In 2006, seven members of the bank's board of directors raised approximately $13 million from local investors to form BT Holdings, which purchased BankTexas from its then non-local owners. The transaction allowed BTH Bank to once again become a locally-owned financial institution.
BTH Bank is currently the 43rd largest bank in Texas, with assets in excess of $1.3 billion and more than 20,700 customer accounts.
How the Worry-Free CD Compares
When compared to the 295 similar length-of-term CDs tracked by DepositAccounts.com that are available within the Bank’s market area, BTH Bank's 30-month Worry-Free CD ranks first, regardless of minimum deposit.
The above rates are accurate as of 6/21/2017.