For a limited time, First State Bank (FSB) is offering two CD Specials: 26-month (2.90% APY) and 15-month (2.75% APY), with the 26-month having the more competitive APY. The minimum deposit for either CD Special is $5k, with no stated balance cap. There is no official end-date for this limited-time offer; CSR stated “it will be available until it’s not.”
According to CSR, the Early Withdrawal Penalty for the 26-month CD Special is six months interest, with partial withdrawals allowed.
Headquartered in St. Charles Missouri, First State Bank’s market area includes St. Charles and St. Louis Counties and the City of St. Louis. (FYI – St. Louis and Baltimore are the only two large US cities that are classified as “independent cities,” defined as not in the territory of any county or counties.)
Opening a CD Special can be done at any of five Missouri branches, located in Chesterfield, Lake St. Louis, O’Fallon, and St. Charles (2).
FSB’s online banking platform is currently limited to account management and bill payment services.
First State Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 0.83% (excellent), based on March 31, 2019 data. In the past year, FSB has an excellent capitalization level (13.56%), the result of holding $372.23 million in assets with $50.48 million equity. Please refer to our financial overview of First State Bank (FDIC Certificate # 12219) for more details.
For more than 150 years, First State Bank has been an independent, locally-owned community bank. As the Bank proudly states on its website, we have "never been bought out by – or merged with – another bank.” In 1867, a group of St. Charles community leaders explored the idea of having “a safe place to keep money, a place to secure loans, and to help the community.” The result of that brain-storming was St. Charles Savings Bank, housed in Concert Hall on Main Street, with initial capital of $100,000. The First State Bank rebrand occurred on the Bank’s 100th anniversary, with a new name that connoted its status as an independent community bank.
As part of its 150th anniversary celebration, FSB constructed a time line of their history. There were two facts that struck me as rather interesting: in 1876, a tornado destroyed Concert Hall. The Bank’s two night-watchmen survived by sheltering under their beds, and amazingly, no monies were reported lost in the destruction. In 1976, rather than getting a toaster as a promotion gift, anyone who obtained an auto loan with FSB was given 50 gallons of gas.
How the CD Special Compares
When compared to 947 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available in the St. Louis area, First State Bank’s 26-month CD Special APY currently ranks fourth.
The above rates are accurate as of 6/17/2019.
To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.