UPDATE SEPTEMBER 30, 2014: This product is no longer available.
At the end of last week, Community Bank of Marshall (MO) began offering an 18-month CD (1.35% APY). This CD requires a minimum opening balance of $1K, there is no maximum balance cap, and interest is compounded semi-annually.
According to a most helpful and pleasant CSR, the Early Withdrawal Penalty is six months of interest. While all of Community Bank of Marshall’s other CDs are available as IRAs, this 18-month CD is not.
As its name suggests, the Community Bank of Marshall is a local community bank in the heart of Missouri, and at this time, is only offering its services and products to residents of Saline and Lafayette Counties.
Although the bank does have some online account management features, an in-person visit to any of the seven branch locations (Marshall, Blackburn, Malta Bend, Sweet Springs, and Waverly) is required to open an account.
Community Bank of Marshall (CBM) has an overall health rating of A+ at DepositAccounts.com, with a Texas Ratio of 3.27% (excellent) as of June 30, 2014. In the past year, Community Bank of Marshall (FDIC Certificate # 22636) increased its total deposits by $5.5 Million, a growth rate of 4.82% (excellent). Please refer to our financial overview of Community Bank of Marshall for more details.
Community Bank of Marshall opened its doors in 1978 with $900K in capital. This initial capital was raised by selling 15,000 shares of common stock to over 100 investors, the majority of whom were from the local area (Saline County, Missouri). Following a merger with Blackburn Bank in 1993, CBM had expanded its operations to three facilities in three different towns. By 2001, CBM had opened an additional two branches in existing buildings and had also built a new facility for the branch in Sweet Springs. CBM holds assets in excess of $134 Million and continues to be the financial center in the center of Missouri.
How the Rate Compares
When compared to other 18-month CDs tracked by DepositAccounts.com, with a $1K or less minimum deposit, no maximum balance cap, offered by banks, and available to Missouri residents, Community Bank of Marshall’s 18-month CD is extremely competitive:
|Community Bank of Marshall
|Triumph Savings Bank, SSB
|GE Capital Bank
The above rates are accurate as of 9/8/2014.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.