Southern States Bank (AL/GA) Adds 9-Month CD


Deal Summary: 9-month CD, 2.24% APY, $5k minimum deposit, in-branch only.

Availability: Market area is north and central Alabama and western Georgia.

Southern States Bank (SSB) is currently offering a 9-month CD, which earns 2.24% APY. A $5k minimum deposit is required to open this limited-time offer, which can only be opened in-branch.

The 9-month CD is by far the most competitive CD in SSB's product line: the next highest rate is 0.72% APY for the 24-month CD.

According to CSR, the Early Withdrawal Penalty for any SSB CD is “half of the interest earned on the CD.”

Thanks to the DA reader who let me know about SSB’s 9-month CD.


Headquartered in Anniston, Alabama, Southern States Bank’s original market area included north and central Alabama. Following the acquisition of Columbus Community Bank (GA) in 2015, SSB expanded its footprint into Carroll and Muscogee Counties, Georgia.

Opening a 9-month CD can be done at any of the six Alabama branches, located in Anniston, Auburn, Birmingham, Huntsville, Opelika, and Sylacauga. SSB also has three Georgia branches in Carrollton and Columbus (2).

While SSB does have an online application for much of its product line, the 9-month CD is not listed.

Bank Overview

Southern States Bank has an overall health grade of "A+” at, with a Texas Ratio of 1.29% (excellent), based on March 31, 2018 data. In the past year, SSB has increased its total non-brokered deposits by $22.22 million, an excellent annual growth rate of 4.72%. Please refer to our financial overview of Southern States Bank (FDIC Certificate # 58558) for more details.

Southern States Bank will be celebrating its eleventh anniversary in about two weeks. SSB was founded by banking veteran, Stephen W. Whatley, who “recognized and embraced the need for a community bank that understands and values the needs of customers today.” After a group of investors (led by Whatley) raised more than $31 million in capital, Southern States Bank, The Common Sense Bank, simultaneously opened offices in Anniston and Opelika in August 2017. An additional seven branches were opened between 2008 and 2016. Although it’s a young bank, SSB is currently the 13th largest bank headquartered in Alabama, with assets in excess of $735 million.

How the CD Compares

When compared to the similar length-of-term CDs tracked by that require a similar minimum deposit are available within the Bank’s market area, Southern States Bank’s 9-month CD APY currently ranks second.

The above rates are accurate as of 8/13/2018.

Searching for the best CD rates, either nationally available or state-specific? Please refer to our CD Rates Table page.

Related Pages: Columbus CD rates, Atlanta CD rates, Birmingham CD rates, Huntsville CD rates, 1-year CD rates

  |     |   Comment #1
One of their branches is 30-40 minutes away but this rate will not get me to drive over there.

I might consider another 9 month at 2.75% but Andrews said limit one per person and I have not called and asked for an exception because they have problems answering the phone and returning calls.

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