Park Cities Bank is offering some competitive CD rates. The following are listed in the bank's rates table as of 2/21/2010:
- 2.02% APY 12-month CD
- 2.53% APY 24-month CD with a one-time bump-up option
- 2.79% APY 36-month CD with a two-time bump-up option
These are also available in an IRA. Minimum deposit is $1,000. The bank's Bump-Up CD section describes the details of this bump-up option. The usefulness of a bump-up feature depends on the bank maintaining competitive rates on those CDs in the future. If they don't, the bump-up feature may not be useful. Nevertheless, the rates are competitive even without the bump-up option.
It appears a branch visit is required to open an account. Branches are located in Dallas and Fort Worth, Texas.
The bank's ratings for safety and soundness are a little mixed: 3½ stars (good) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 9/30/09 financial data. The bank has been a FDIC member since 2000 (FDIC Certificate # 57057).