Kansas-based Central National Bank (CNB) is celebrating its 132nd anniversary with a 13-month CD Special (1.32% APY). The minimum opening deposit is $5k, with no stated balance cap, although the fine print on the Deposit Rates page states,
CDs over $500,000 require prior approval from CNB President, CFO, or SVP - Retail Banking.
An active checking account is required to earn the stated APY; without an active checking account the 13-month CD Special’s APY drops to 1.07% APY. CNB has three checking accounts (Central Premium, Central Value, and Central Basic), all of which qualify for the 0.25% premium.
According to CSR, the Early Withdrawal Penalty is six months interest.
Headquartered in Junction City, Kansas, Central National Bank’s market area includes 22 Kansas and Nebraska communities.
Opening a 132nd Anniversary13-month CD Special must be done at the 32 Kansas branches located in Beloit, Burlington, Concordia, Gardner (2), Glen Elder, Great Bend, Halstead, Herington, Hesston, Hillsboro, Junction City (5), Lawrence (4), Manhattan (2), Mankato, Marion, Newton, Salina (2), Tipton, Topeka (2), White City, and Wichita. CNB also has a branch in Superior, Nebraska.
Central National Bank (FDIC Certificate # 4702) has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 2.62% (excellent) based on June 30, 2016 data. In the past year, CNB has increased its total assets by $41.16 million, an excellent annual growth rate of 5.35%. Please refer to our financial overview of Central National Bank for more details.
Established in 1884 as The Central National Bank of Junction City, CNB is currently the 11th largest bank in Kansas, with assets in excess of $937 million. CNB was a bit of a late bloomer: the majority of its growth outside its home community occurred between 1994 and 2000, including the acquisition of five Kansas and one Nebraska banks.
If you’re interested in history, CNB has a great “About Us”page on its website, including a variety of photos. My favorite is from 1975 showing the new IBM computer the Bank had purchased, enabling “all processing to be done ‘in-house’.” The computer is about the size of a desk.
How the Anniversary CD Compares
When compared to the 236 CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available with the Bank’s market area, Central National Bank’s 132 Anniversary 13-month CD Special APY currently ranks second.
The above rates are accurate as of 10/14/2016.