Talmer Bank and Trust (Talmer) is "Turning Up The Heat," this summer by offering a 14-month CD Special (1.25% APY). The minimum opening deposit for this limited-time offer is $1K of new money and there is a maximum balance cap of $250K.
As stated in Talmer’s CD Terms and Conditions page, the Early Withdrawal Penalty reads as follows:
If you withdraw any principal before the maturity date, an early withdrawal penalty equal to 180 days interest will be imposed.
Complete details are available on Talmer’s CD Special promotion page.
Thanks to the DA reader who let me know about this deal.
Headquartered in Troy, Michigan, Talmer Bank and Trust’s market area includes the Chicago metropolitan area (Chicagoland) in Illinois, the greater Metro Detroit area and the Thumb region of Michigan, and Northeast Ohio.
Opening an account with Talmer requires an in-person visit to at any of 80 branches, located in Michigan (43), Ohio (26), and Illinois (1). Currently, Talmer’s online banking platform is dedicated to account management and bill payment services.
Talmer Bank and Trust, has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 17.47% (above average), based on March 31, 2015 data. In the past year, Talmer has increased its total deposits by $540.81 Million, an excellent annual growth rate of 15.11%. Please refer to our financial overview of Talmer Bank and Trust for more details.
Talmer Bank and Trust (FDIC Certificate # 58123) is a young bank, having been established in 2007 as First Michigan Bank. Between 2010 and early 2015, Talmer expanded its footprint in the mid-west by acquiring six banks in Michigan (4), Ohio (1), and Wisconsin (1). Today, Talmer Bank and Trust is the 3rd largest bank in Michigan, with assets in excess of $5.4 Billion.
Talmer Bank and Trust is one of those names that makes you wonder, "Who was/is Talmer and how did he get a bank named after him, particularly a relatively new bank?"
Talmer. It's a different kind of name for a bank, isn't it? Well, we're a very different kind of bank. Our name combines the last name of the grandfather of David T. Provost, Chairman and CEO of Talmer Bank and Trust (Talmage) with the last name of the grandfather of Gary Torgow, Chairman of Talmer Bancorp, Inc. (Merzon). Their grandfathers were two remarkable humanitarians who never met, but shared a common purpose - to help others and to enrich the lives of their communities.
How the CD Compares
When compared to the 498 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to Illinois, Michigan, Ohio, and Wisconsin residents, Talmer Bank and Trust’s 14-Month CD Special currently ranks third.
The above rates are accurate as of 8/17/2015.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.