RCB Bank (OK/KS) Offers 60-Month CD

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Deal Summary: 60-month CD, 3.00% APY, $1k minimum deposit

Availability: Market area includes northeast Oklahoma and eastern Kansas.

As of this morning, there are more than 4,000 5-year CDs offered by banks and credit unions throughout the country. Oklahoma-based RCB Bank has one of the two that currently earn 3.00% APY. RCB Bank’s 60-month CD can be opened with a $1k minimum deposit and there is no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.00%$1k-RCB Bank60 Month Fixed CD
3.00%$250-RCB Bank60 Month Fixed IRA (Traditional, Roth, CESA)
Rates as of April 22, 2018.

In the past month, the 60-month CD had two rate increases, adding a total of 170 bps. The 3.00% APY is the highest rate since late 2009, when the 3.00% APY was in effect for more than a year.

The CD is also available as an IRA (Traditional, Roth, and CESA) earning the same APY, but only requiring a $250 minimum deposit.

According to CSR, the Early Withdrawal Penalty “will be 24 months of interest.”

Thanks to Carpline for his Forum post about this 3.00% APY, and to the DA reader who emailed me about RCB Bank’s latest hot deal.

Availability

Headquartered in Claremore, Oklahoma, RCB Bank’s market area is roughly triangle-shaped, with Oklahoma City, Tulsa, and Wichita (Kansas) serving as the three points.

With such a large footprint, I had hoped RCB Bank would have an online application, but according to CSR, “We do require our customers to come into a branch first to open any kind of an account with RCB Bank.”

In addition to the 41 full-service branches in northeast Oklahoma, RCB Bank also has 11 Kansas branches, located in Arkansas City (2), Douglass, Lawrence, Oxford, Wellington, Wichita, and Winfield (4).

Bank Overview

RCB Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 4.29% (excellent) based on September 30, 2017 data. RCB Bank has an above average capitalization level (10.69%), the results of holding assets of $2.75 billion with $294.07 million in equity. Please refer to our financial overview of RCB Bank (FDIC Certificate # 15399) for more details.

On a cold January morning in the depths of the Great Depression, RCB Bank opened its doors for business for the first time in Claremore, Oklahoma. Established by local entrepreneurs L. S. Robson and George Davis, the Bank was known as Rogers County Bank and had only one branch. By the end of the first year, the Bank had turned a profit and continued to do so every year since.

The RCB Bank rebrand occurred in 1990 following the acquisition of the Bank of Oklahoma and further expansion outside of Rogers County. Between 1990 and 2010, RCB Bank acquired eight Oklahoma banks, and in 2016, acquired Cornerbank of Winfield, Kansas. RCB is currently the sixth largest bank in Oklahoma, with assets in excess of $2.75 billion and more than 145,000 customer accounts.

How the CD Compares

When compared to the 206 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to within the Bank’s market area, RCB Bank’s 60-month CD APY currently shares the top spot with Connexus Credit Union’s 60-month Certificate APY.

The above rates are accurate as of 1/22/2018.

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

Related Pages: Kansas City CD rates, Oklahoma City CD rates, Tulsa CD rates, Wichita CD rates, 5-year CD rates

Comments
Top Reward Checking and 5-Year CD Rates Continue at RCB Bank in KS & OK - Local Only

RCB Bank continues to have two good deposit deals. The first is a high-yield checking account called Go Green Rewards Checking. I first reported on this account in 2008. The rate has fallen, but it's still very competitive for reward checking accounts. As of 1/6/2011, it pays 4.10% APY on balances up to $25K. The main requirement is 12 debit card purchases a month. It does not require direct deposit, but it does require that you log into your account at least once a month. As is typical, e-statements is...

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Top Reward Checking and 5-Year CD Rates at RCB Bank in KS & OK - Local Only

RCB Bank has two good deposit deals. The first is a high-yield checking account called Go Green Rewards Checking. I first reported on this account in 2008. The rate has fallen, but it's still very competitive for reward checking accounts. As of 8/9/2010, it pays 4.10% APY on balances up to $25K. The main requirement is 12 debit card purchases a month. It does not require direct deposit, but it does require that you log into your account at least once a month. As is typical, e-statements is also required.

The...

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4.10% Reward Checking Account at an Oklahoma Bank (RCB)

Update 12/30/08: The top yield has fallen to 4.10% APY. Refer to the bottom of the post for the rate history.

RCB Bank has a reward checking account called Go Green Reward Checking that pays 4.10% APY on balances up to $15,000 (0.25% for above) and refunds ATM fees (up to $15 per cycle) if the following monthly requirements are met:

  • 12 point-of-sale check card transactions
  • login into online banking
  • receive electronic statements


If these are not met, the rate falls to 0.25%. The minimum initial deposit is $100. There are no maintenance fees.

It...




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