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.

1.90%$5k-The First State Bank (17884)2 Year CD
1.80%$5k-The First State Bank (17884)18 Month CD
1.60%$5k-The First State Bank (17884)12 Month CD
Accounts mentioned in this post. Rates as of February 19, 2018.

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 offered for more than four years, with its APY at 1.00% and below for the vast majority of the time. In the past six months there have been five rate increases, adding a total of 90 bps.

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

1.90%$5k-The First State Bank (17884)2 Year IRA
1.80%$5k-The First State Bank (17884)18 Month IRA
1.60%$5k-The First State Bank (17884)12 Month IRA
Accounts mentioned in this post. Rates as of February 19, 2018.

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


Headquartered in Oklahoma City, The First State Bank’s market area is primarily the greater Oklahoma City metropolitan area, but as stated on TFSB’s Rates page, the 12-month CD “is the only CD product available to open and fund completely online.” Any resident of Oklahoma, 18 years or older, can open a 12-month CD using TFSB’s online application.

All TFSB CDs 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 "B+" at, with a Texas Ratio of 7.53% (excellent), based on June 30, 2017 data. The Bank has an above average capitalization level (10.91% APY), the result of holding $288.72 million in assets with $31.5 million in equity. 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 292 similar length-of-term CDs tracked by, which require a similar minimum deposit available to Oklahoma residents, The First State Bank’s 12-Month CD APY currently ranks fourth.

The above rates are accurate as of 10/10/2017.

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

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

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

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