The First State Bank (OK) Ups 2-Year CD


Deal Summary: 2-Year CD, 3.00% APY, $5k minimum deposit.

Availability: Market area is five central Oklahoma counties.

Last week, The First State Bank (TFSB) raised the rate on its 2-year CD to 3.00% APY. The minimum deposit is $5k, with no stated minimum balance. In the past six months, the 2-year CD has gained 110 bps in four rate increases.

TFSB also increased the rates on the majority of its other CDs, but the 2-year is the most competitive.

These CDs are also offered as IRAs (Traditional), earning the same APYs with the same funding requirements.

According to CSR, the Early Withdrawal Penalties are mild: one month interest for the 12-month CD, three months interest for the 18-month and 2-year CDs, and six months interest for the 3-year CD.


Headquartered in Oklahoma City, The First State Bank’s market area includes Canadian, Cleveland, Oklahoma, Pottawatomie, and Washita Counties, Oklahoma.

While TFSB’s 12-month CD can be opened online by any Oklahoma resident, all the other CDs (including the 2-year) in the product line must be opened in-branch. When asked, CSR could not provide a reason as to why only the 12-month CD is available online.

Opening the 2-year CD can be opened at any of the three full-service Oklahoma branches located in Canute, Midwest City, and Oklahoma City.

Bank Overview

The First State Bank has an overall health rating of "A+" at, with a Texas Ratio of 1.49% (excellent), based on March 31, 2018 data. In the past year, the Bank has increased its total non-brokered deposits by $28.21 million, an excellent annual growth rate of 12.19%. Please refer to our financial overview of The First State Bank (FDIC Certificate # 17884) for more details.

"The First State Bank" is an appropriate name, as the Bank is Oklahoma’s oldest, continuously operating state-chartered bank. This privately owned institution was established in 1902 and has always been known as The First State Bank. According to a December 2016 press release,

The First State Bank has been awarded a 2016 Top Workplaces honor by The Oklahoman. The Top Workplaces lists are based solely on the results of an employee feedback survey administered by WorkplaceDynamics, LLC, a leading research firm that specializes in organizational health and workplace improvement.

How the CD Compares

When compared to the 257 similar length-of-term CDs tracked by, which require a similar minimum deposit and available in the Bank’s market area, The First State Bank’s 2-Year CD APY currently ranks first.

The above rates are accurate as of 8/9/2018.

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

Related Pages: Oklahoma City CD rates, 1-year CD rates, 5-year CD rates

The First State Bank (OK) Hikes 12-Month CD
Deal Summary: 12-Month CD, 1.65% APY, $5k minimum deposit.

Availability: Online application can be used by all Oklahoma residents.

The First State Bank (TFSB) started the week by raising the rate of its 12-month CD (1.65% APY). The minimum deposit is $5k, with no stated minimum balance.

TFSB also boosted the rates on its 18-month CD (1.75% APY) by 35 bps and 2-year CD (1.85% APY) by 40 bps. Like the 12-month CD, both require a minimum $5k opening deposit.

The 12-month CD has been...

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New Reward Checking and Savings Accounts at The First State Bank - Oklahoma Only

There’s another new reward checking account, but like many other new ones, the balance cap is a little disappointing. The reward checking account is being offered by The First State Bank in Oklahoma, and it’s called Preferred Reward Checking. There’s also a companion savings account called Preferred Reward Saver that helps offset the low checking balance cap. Below is a summary of the rates and requirements:

Preferred Reward Checking rates and features as of 7/31/2013:

  • 2.50% APY on daily balances up to $15,000
  • 0.60% interest rate on the portion of the balance over...
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Short-Term CD Specials at The First State Bank in Oklahoma - Local Only

The First State Bank is advertising two competitive CD specials. One is a 1.40% APY 13-month CD and the other is a 1.25% APY 7-month CD. Minimum deposit is $5,000, and the maximum is $100,000. These don't appear to be listed on the bank's website. They were advertised in today's (1/30/2011) edition of The Oklahoman. The ad is available online here. According to the ad, these specials are scheduled to end on February 4, 2011.

Compared to internet banks on 1/30/2011, the best 12-month CD rate is 1.36% APY at Bank...

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