First Eagle Bank (Chicago) Offers 24-Month CD
Last month, First Eagle Bank offered a limited-time 18-month CD Special, earning 3.00% APY. While the 18-month is no longer available, the Chicago-based Bank is offering 3.00% APY on a 24-month CD Special. This is also a limited-time offer and can be opened with a $2.5k minimum deposit and with a balance cap of $250k.
According to CSR, the Early Withdrawal Penalty is “180 days interest on the amount being withdrawn.” There is a 10 day grace period before the 24-month CD Special automatically renews to the current 24-month CD rate.
Availability
Headquartered in Chicago, First Eagle Bank offers its product line to residents of the greater Chicago area, aka Chicagoland.
Opening a 24-month CD Special requires an in-person visit to either of the two Illinois branches located in Chicago (Near West Side) and Hanover Park (DuPage County). First Eagle Bank’s online banking platform is currently limited to account management and bill payment services.
In the course of our conversation, CSR mentioned that, in addition to typical bank transactions, First Eagle Bank offers in-branch renewal of Illinois license plate stickers and the sale of USPS Forever Stamps.
Bank Overview
First Eagle Bank has an overall health grade of "A” at DepositAccounts.com, with a Texas Ratio of 1.01% (excellent), based on March 31, 2018 data. The Bank has an excellent capitalization level (17.37%), the resulting of holding $485.69 million in assets and $84.37 million in equity. Please refer to our financial overview of First Eagle Bank (FDIC Certificate # 25883) for more details.
An investor group led by First Eagle Bank’s current Board Chairman, Joel Salk, acquired the First National Bank of Roselle in January 1991. The Bank was recapitalized and rebranded as First Eagle National Bank, reflecting the Bank’s market expansion from a small community bank in Roselle, Illinois, to a bank that would serve the greater Chicago area. In a March 2016 press release, the Bank announced that,
The Illinois Bankers Association (IBA) recently presented the Illinois Bank Financial Literacy award to First Eagle Bank in Chicago. The award was created and judged by the IBA’s Financial Literacy Committee and is presented to an Illinois bank that provides critical training and key resources in a progressive and thorough manner to its community.
How the CD Special Compares
When compared to 357 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit are available within the Bank’s market area, First Eagle Bank’s 24-month CD Special APY currently ranks first.
The above rates are accurate as of 8/27/2018.
Searching for the best CD rates, either nationally available or state-specific? Please refer to our CD Rates Table page.
