Poppy Bank (CA) Ups 12-Month CD Rate


Deal Summary: 12-month CD (2.50% APY), 24-month CD (2.75% APY), $1k minimum deposit.

Availability: Market area is San Francisco Bay area.

About a month ago, Poppy Bank (formerly known as First Community Bank) added a 12-month and a 24-month CD, with fairly ho-hum rates. Following increases of 50 bps over the weekend, those rates are now quite competitive: 12-month CD (2.50% APY) and 24-month CD (2.75% APY). The minimum opening deposit is $1k, with no stated balance cap.

2.75%$1k-Poppy Bank24 Month CD
2.50%$1k-Poppy Bank12 Month CD
Rates as of July 20, 2018.

According to CSR, the Early Withdrawal Penalty for the 12-month CD is 90 days of interest, and 180 days of interest for the 24-month CD.


Headquartered in Santa Rosa, Poppy Bank’s market area includes the California counties of Alameda, Contra Costa, Marin, San Mateo, Santa Clara, and Sonoma.

Opening a CD can be done online, or at any of eleven full-service California branches located in Alameda, Corte Madera, Menlo Park, Milpitas, Petaluma, Santa Rosa (4), Walnut Creek, and Windsor.

While the first few pages of the online application look more like a “Contact Me” form, CSR assured me that a CD can be opened online without an in-branch visit.

Bank Overview

Poppy Bank has an overall health rating of "A+" at DepositAccounts.com, with a Texas Ratio of 4.54% (excellent), based on March 31, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $313.77 million, an excellent annual growth rate of 30.43%. Please refer to our financial overview of Poppy Bank (FDIC Certificate # 57903) for more details.

Poppy Bank is currently the 45th largest bank headquartered in California, with deposits in excess of $1.4 billion. The Bank was founded in 2005 as First Community Bank by nine prominent San Francisco area business leaders. The Bank re-branded as Poppy Bank last November to avoid marketplace confusion, although the parent company name (First Bank Community Holdings) has not changed. According to Poppy Bank CEO, Khalid Acheckzai,

There are thirteen banks named “First Community Bank” in the United States with 157 branch locations. As we expanded, we wanted to distinguish our excellent products and services from our competitors. Changing our name to “Poppy Bank” is unique and an exciting step forward on our road to continued success.

How the CDs Compare

When compared to the 274 similar length-of-term CDs tracked by DepositAccounts.com requiring a similar minimum deposit and available within the Bank’s market area, Poppy Bank’s 12-month CD APY currently shares top billing with Connexus Credit Union’s 12-month Certificate APY.

When compared to the 266 similar length-of-term CDs tracked by DepositAccounts.com requiring a similar minimum deposit and available within the Bank’s market area, Poppy Bank’s 24-month CD APY currently ranks second.

The above rates are accurate as of 5/31/2018.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: San Francisco Bay CD rates, 1-year CD rates, 5-year CD rates

Bozo   |     |   Comment #1
While I doubt it ever crossed their mind, the name "Poppy Bank" might get some attention at certain drug enforcement agencies. As in "Dude, so I plopped ten large at a Poppy Bank. . . ."
Carpline   |     |   Comment #3
The Poppy is the California state flower.
Bad Area
Bad Area   |     |   Comment #5
Nearly half of Bay Area residents want out, poll shows.

There are poppy junkies on every street in SF.
dmprisk   |     |   Comment #2
I called and spoke to CSR, they do take anyone who lives in California, not just the Bay area. They are going to be opening up a branch in Costa Mesa, soon.
ocsteve   |     |   Comment #7
The branch in Costa Mesa is actually a one branch Bank-Blue Gate Bank, that is being acquired by Poppy Bank. The majority owners of Poppy Bank are also majority owners of Blue Gate Bank.
dmprisk   |     |   Comment #4
They are making it hard to open in a Trust. I've never heard of a Power of Attorney inside of a Trust. I'll go someplace else.
xyz   |     |   Comment #6
Are Poppy Bank CDs available in Silicon Valley

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