Community First Bank (IN) Unveils 25-Month CD Special, 2.50% APY


Deal Summary: 25-month CD Special, 2.50% APY, $25k minimum deposit.

Availability: Primary market area includes the Indiana counties of Hamilton and Howard, but any Indiana resident who can come into a branch may apply.

Community First Bank of Indiana (CFB) began the month by adding two new CD Specials to the product line and raising the rates on four existing CD Specials. Of the six CD Specials, the new 25-month has the most competitive rate – 2.50% APY.

The 13-, 23-, 33-, and 59-month CD Specials were added to the product line in 2011 and for more than eight years offered rather unimpressive APYs. That changed this week with dramatic rate increases between 120 and 165 bps. Unlike the new CD Specials, these four only required a $500 minimum deposit.

4.85%$1k-Community First Bank of Indiana13 Month CD Special
4.25%$1k-Community First Bank of Indiana33 Month CD Special
3.50%$1k-Community First Bank of Indiana59 Month CD Special
Rates as of May 22, 2024.

According to a CFB official, only early closures are allowed – no partial withdrawals – and are subject to the following Early Withdrawal Penalty:

  • 182 days of dividends – terms of 12-35 months
  • 270 days of dividends – terms of 36 months and greater


Headquartered in Kokomo, Indiana, Community First Bank of Indiana has a brick-and-mortar presence in Hamilton and Howard Counties, but according to a branch manager, any Indiana resident who can come into a branch may apply to open an account.

Opening a CD Special (or any other type of account) with CFB can only be done in person at any of six Indiana branches, located in Kokomo (3), Noblesville, and Westfield (2).

Bank Overview

Community First Bank of Indiana has an overall health grade of "A+" at, with a Texas Ratio of 0.72% (excellent) based on June 30, 2019 data. In the past year, the Bank has increased its total non-brokered deposits by $4.11 million, an above average annual growth rate of 1.83%. Please refer to our financial overview of Community First Bank of Indiana (FDIC Certificate # 57511) for more details.

Originally known as the Community First Bank of Howard County, Community First Bank of Indiana is a young institution, having opened its door less than 17 years ago.

On February 3, 2003, Community First Bank of Indiana made history by opening the first new bank chartered in Howard County in over 55 years. In a span of less than 3 months from the date shares of bank stock became available for sale, CFB became operational raising 25% more capital than required by the Federal Deposit Insurance Corporation and the Indiana Department of Financial Institutions.

CFB is currently Indiana’s 50th largest bank, with assets in excess of $282 million and more than 10,500 customer accounts.

How the CD Special Compares

When compared to 303 similar length-of-term CDs tracked by that are available in the market area, Community First Bank of Indiana’s 25-month CD Special APY currently ranks second, regardless of minimum deposit requirement.

The above rates are accurate as of 12/7/2019.

Looking for the best CD rates, both nationwide and in your state? Please refer to our CD Rates Table page.

Related Pages: Indianapolis CD rates, 1-year CD rates, 5-year CD rates

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