Last month, Denmark State Bank (DSB) unveiled a new 39-month CD (2.05% APY). The minimum opening deposit is $5k, with a “limit of $250,000 per ownership type.”
According to CSR, the Early Withdrawal Penalty is a very substantial “all interest earned.”
Active Performance Checking
DSB’s Active Performance Checking has been earning 2.00% APY on qualifying balances up to $10k since October 2014. Qualifying balances of $10k+ earn 0.25% APY, with non-qualifying balances earning 0.05% APY.
- At least 12 debit card purchases per qualification cycle.
- Enroll in and receive eStatements.
- Log into online banking at least once per qualification cycle.
- At least one direct deposit or ACH per qualification cycle.
The Active Performance Checking has no monthly service fees or minimum balance requirement. The minimum opening deposit is $100 and there is a limit of one account per Social Security number. Nation-wide ATM fees will be reimbursed up to $15 per cycle, if the qualifying requirements are met.
Headquartered in Denmark, Wisconsin, Denmark State Bank’s market area is Northeast Wisconsin, including the counties of Brown, Kewaunee, and Manitowoc.
Opening a CD must be done in person at any of seven full-service Wisconsin branches located in De Pere, Denmark, Green Bay (2), Howard, Reedsville, and Whitelaw.
DSB’s online banking platform is currently limited to account management and bill payment services, including Popmoney.
Denmark State Bank has an overall health rating of "A+" at DepositAccounts.com, with a Texas Ratio of 1.81% (excellent) based on March 31, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $14.08 million, an excellent annual growth rate of 3.96%. Please refer to our financial overview of Denmark State Bank (FDIC Certificate # 13240) for more details.
Established in 1909, Denmark State Bank has the dubious distinction of being the first Brown County bank to be robbed. In March 1949, DSB was robbed of $38k at gunpoint. With the assistance of the FBI, the robbers were apprehended and the money recovered.
On a much happier note, DSB was named as a “2016 Ethics in Business Award” finalist in the Business Category. From nearly 80 nominated individuals and companies, 11 finalists were selected. Sponsored by the American Foundation of Counseling Services, the Ethics in Business Awards highlights positive models of ethical behavior.
How the CD Special Compares
When compared to the 261 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to within the Bank’s market area, Denmark State Bank’s 39-month CD Special APY currently ranks first.
The above rates are accurate as of 6/20/2017.