Sullivan Bank is currently offering two CD Specials: 13-month (4.11% APY) and 25-month (4.22% APY). These limited-time offers can be opened by a $1k minimum deposit, with no stated balance cap. CSR stated there is no end-date specified for the CD Specials.
Funding and Other Particulars
- Early Withdrawal Penalty – 365 days of interest and a $35 fee for either CD Special, with partial withdrawals allowed.
- Funding – ACH, wire, or check.
- Maturing Funds – distributed by check to address on file or transferred to a Sullivan Bank liquid account.
- Interest – automatic quarterly disbursement by either check or transfer to Sullivan Bank liquid account can be set up when opening a CD Special.
- Grace Period – ten days, with the 13-month renewing as a 12-month CD and the 25-month renewing as a 24-month CD.
- Beneficiaries – unlimited, equal shares, Social Security, DOB, and address required.
- Credit Check – Soft pull.
Headquartered in Sullivan, Missouri (75 miles southwest of St. Louis), Sullivan Bank has a brick-and-mortar presence in six central Missouri counties: Camden, Crawford, Franklin, Greene, Polk, and St. Louis.
Opening a CD Special must be done in-branch at any of ten full-service Missouri branches, which are located in Cuba, Eureka, Labadie, Pleasant Hope, Springfield, St. Clair, Sullivan (2), Sunrise Beach, and Union.
Sullivan Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.04% (average) based on June 30, 2022 data. In the past year, Sullivan Bank has increased its total non-brokered deposits by $48.18 million, an excellent annual growth rate of 163.04%. Please refer to our financial overview of Sullivan Bank (FDIC Certificate # 8892) for more details.
Originally known as the Bank of Sullivan, the bank opened its doors for business in 1895 with assets of about $7,000 – a rather impressive sum considering the town of Sullivan had a population of 750 in 1895. Three Missouri banks were acquired in 1994 (Meramec State Bank), 1997 (American Federal Savings and Loan Association of Sullivan), and 2012 (Community Bank of the Ozarks), with the Sullivan Bank rebrand happening about three years ago. Currently the 34th largest bank headquartered in Missouri, Sullivan Bank has assets in excess of $871 million and nearly 25,000 customer accounts.
How the 25-month CD Special Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available nationally and have minimum deposit requirements of $10k or less, one bank and one credit union have higher rates than currently offered on the Sullivan Bank 25-month CD Special. The following table compares the 25-month CD Special to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.
How the 13-month CD Special Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available nationally and have minimum deposit requirements of $10k or less, two credit unions have higher rates than currently offered on the Sullivan Bank 13-month CD Special. The following table compares the 13-month CD Special to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.
The above information and rates are accurate as of 10/31/2022.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.