Sullivan Bank (MO) Ups 7-Month CD Special APY To Rate-Leading Level


Deal Summary: 7- month CD Special, 5.15% APY, $1k minimum opening deposit.

Availability: Missouri

Sullivan Bank upped the rate on its 7-month CD Special earlier this month. Earning a competitive 5.15% APY, this limited-time offer can be opened by a $1k minimum deposit, with no stated balance cap. CSR stated there is no end-date specified for the CD Special.

5.00%$1k-Sullivan Bank7 Month CD Special
Rates as of November 29, 2023.

According to CSR, a partial withdrawal or an early closure will trigger an Early Withdrawal Penalty of 90 days of simple interest on the 7-month CD Special. If a CD Special is closed within 90 days of opening, a $15 Premature Closing Account Fee will also be assessed.


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. There is a “Contact Us” form to start the application process for a CD Special.

Account Opening

The following information is from a conversation with CSR.

  • Funding – ACH, wire ($10 fee), or check.
  • Ownership – Individual, joint, or trust.
  • Maturing Funds – Cashier’s check to address on file or transferred to a Sullivan Bank liquid account.
  • Dividends – 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 calendar days before renewing as a 6-month CD.
  • Beneficiaries – Unlimited, equal shares, Social Security, DOB, and address required.
  • Credit Check – Soft pull.

Bank Overview

Sullivan Bank has an overall health grade of "A" at, with a Texas Ratio of 2.47% (excellent) based on December 31, 2022 data. In the past year, Sullivan Bank has increased its non-brokered deposits by $135.14 million, an excellent annual growth rate of 20.73%. 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 30th largest bank headquartered in Missouri, Sullivan Bank has assets in excess of $948 million and nearly 27,000 customer accounts.

How the 7-month CD Special Compares

When compared to similar length-of-term CDs tracked by which are available within the market area and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the Sullivan Bank 7-month CD Special. The following table compares the 7-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 4/25/2023.

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

Related Pages: St. Louis CD rates, Springfield CD rates, 1-year CD rates

Sullivan Bank (MO) Adds Two Competitive CD Specials
Deal Summary: CD Specials – 13-month (4.11% APY) and 25-month (4.22% APY), $1k minimum opening deposit.

Availability: Missouri

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,...
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Sullivan Bank (MO) Offers Kasasa Brand Products
Update: Sullivan Bank has changed the availability of its Kasasa accounts to only certain states.

Deal Summary: Kasasa Cash, 3.00% APY up to $10k (two per SS number). Kasasa Saver, 1.00% APY up to $25k (two per SS number).

Availability: Nationwide Missouri, Kansas, Nebraska, Iowa, Illinois, Kentucky, Tennessee, Arkansas and Oklahoma.

More than three years ago, Missouri-based Sullivan Bank began offering Kasasa brand products. The Kasasa Cash’s initial 3.00% APY on qualifying balances up to $10k is still in effect. Qualifying balances over $10k earn 0.30% APY,...

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