In mid-August, First Community Bank (Ohio) introduced a new, competitive rate 27-month CD Special (1.50% APY). It requires a $5K minimum opening deposit and there is no maximum balance cap.
According to First Community Bank’s Disclosure page , the Early Withdrawal Penalty on this 27-month CD Special is 182 days interest.
Currently, First Community Bank is only offering new accounts to Central Ohio area residents in the bank’s market area. First Community Bank offers an "on-line" application, but it cannot be submitted on-line: the form can be filled out on-line, but then must be printed and either mailed or brought to any of First Community Bank’s four branches in Columbus (2), Sedalia, and Whitehall.
An eligibility disclaimer on First Community Bank’s CD Application Page states:
Please call us to confirm you are in our market before sending in application.
First Community Bank (FDIC Certificate # 17520) has an overall health rating of B at DepositAccounts.com, with a Texas Ratio of 19.85% (above average) as of March 31, 2014. First Community Bank has an excellent capitalization level of 14.31%, holding $98.24 Million in assets with $14.06 Million in equity. Please refer to our financial overview of First Community Bank for more details.
First Community Bank was founded in 1903 and has remained a privately owned bank until recently. First Defiance Financial Corporation, the holding company for First Federal Bank of the Midwest, is in the process of finalizing its acquisition of First Community Bank.
How the Rate Compares
When compared to other similar length-of-term CDs tracked by DepositAccounts.com, with a $5K or less minimum deposit, no maximum balance cap, and available to Ohio residents, First Community Bank's 27-month CD Special is highly competitive:
|Interest Rate||CD Length||Institution|
|1.50% APY||27-month CD Special||First Community Bank|
|1.50% APY||25-month CD||Quorum Federal Credit Union|
|1.36% APY||24-month CD||Belmont Savings Bank (OH)|
|1.30% APY||24-month CD||Triumph Savings Bank|
The above rates are accurate as of 8/31/2014.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.