For more than a year, Evergreen Bank Group (EBG) has been offering competitive CD Specials. Of the four CD Specials currently being offered, the 29-month (2.70% APY) is the most competitive. These limited-time offers all require new money, with a minimum deposit of $10k and a maximum deposit of $249,999.
EBG has consistently staggered the changes on these Specials: rate increases on one or two CDs at a time, and/or a term length added or modified.
According to CSR, the Early Withdrawal Penalty for any of CD Specials is “180 days of interest,” but no partial withdrawals are allowed, only early closure. As CSR put it, “it’s an all-or-nothing situation.”
The CD Specials are not listed on EBG’s Rates page, but have their own Keeping It Local page.
Thanks to DA reader who let me know about the new rates on the CD Specials.
Headquartered in Oak Brook, Illinois, Evergreen Bank Group’s primary market area is the Chicago metro area, better known as “Chicagoland.”
The CD Specials can be opened at any of the three suburban Chicago branches, which are located in Evergreen Park, Hinsdale (Grant Square shopping center) , and Oak Brook.
There is also a “Contact Me” form, which is the first step toward of opening an account. The Bank “will respond to you within one business day.”
Evergreen Bank Group has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 0.51% (excellent) based on June 30, 2018 data. In the past year, EBG has increased its total non-brokered deposits by $50.91 million, an excellent annual growth rate of 15.47%. Please refer to our financial overview of Evergreen Bank Group (FDIC Certificate # 35230) for more details.
Evergreen Bank Group was established in 1999 as Evergreen Community Bank and is currently 50the largest bank headquartered in Illinois, with assets in excess of $937 million. Thanks to its unusual and highly successful national motorcycle lending business, EBG has become one of the Chicago area’s most profitable community bank. A Business Wire August 2016 press release stated,
Evergreen Bank Group (“Evergreen”), with the support of Polaris Industries Inc. (“Polaris”, NYSE: PII), announced that on September 1, 2016, Evergreen will launch a new lending division, Performance Finance, exclusively focused on the financing of Polaris motorcycle and Slingshot products. Evergreen will operate the Performance Finance division out of its Reno, Nevada facility, in connection with a multi-year retail financing contract with Polaris.
How the CD Special Compares
When compared to 325 similar length-of-term CDs tracked by DepositAccounts.com, which are available within the Bank’s market area and require a similar minimum deposit of $10k or less, Evergreen Bank Group's 29-month CD Special APY currently ranks second.
When compared similar length-of-term CDs tracked by DepositAccounts.com, which are available within the Bank’s market area and require a similar minimum deposit of $10k or less, Evergreen Bank Group's 9-month CD Special APY currently ranks second.
The above rates are accurate as of 10/22/2018.
To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.