Nebraska-based Core Bank is currently offering two CD Specials – 23-month (3.00% APY) and 14-month (2.50% APY). While some banks with different market areas offer different rates for the same product (Texas Exchange Bank comes to mind), Core Bank offers the same rates, but with different minimum deposits. The opening deposit for either CD Special in Omaha is $10k, while the same CD Special in Kansas requires a minimum $25k deposit.
According to CSR, the Early Withdrawal Penalty for either CD Special is six months interest on the amount being withdrawn.
Headquartered in Omaha, Nebraska, Core Bank’s original market area was the Omaha metropolitan area. In July 2017, the Bank opened its first branch outside of Nebraska in Overland Park (Kansas City metro area). While Kansas branch’s initial focus was on business lending, it has expanded to include personal banking.
According to CSR, any Nebraska or Kansas resident who can come into a branch location is welcome to open an account.
Core Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.22% (excellent) based on March 31, 2018 data. In the past year, Core Bank has increased its total non-brokered deposits by $17.76 million, an excellent annual growth rate of 4.94%. Please refer to our financial overview of Core Bank (FDIC Certificate # 34363) for more details.
Core Bank is a young bank, having been established in 1996 when the Ashland State Bank was acquired. The Bank was initially known as Sapp City Bank (in honor of Lee Sapp, founder of Ashland State Bank), but in 1999 the name was changed to Centennial Bank. In 2013, Omaha State Bank and Centennial Bank merged, rebranding as Core Bank. Currently the 23rd largest bank in Nebraska, Core Bank has assets in excess of $485 million.
How the CD Special Compares
When compared to the 277 similar length-of-term CDs tracked by DepositAccounts.com that are available within the Bank’s Omaha and Kansas City market areas, Core Bank’s 23-month CD Special APY currently shares the top spot with CD Bank, regardless of minimum deposit.
The above rates are accurate as of 8/31/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.