State Bank (OH/IN) Adds 48-Month CD


Deal Summary: 48-month CD, 3.00% APY, $1k minimum deposit, with at least 50% new money.

Availability: Market area includes ten northwest Ohio counties and Allen County, Indiana.

Earlier this month, State Bank introduced two new CDs: 48-month (3.00% APY) and 18-month (2.25% APY). Either CD can be opened with a $1k minimum deposit, with no stated balance cap. No matter the size of the opening deposit, 50% of the funds must be money that is new to State Bank.

According to CSR, the Early Withdrawal Penalty (EWP) is structured a bit differently, with the determining factor being when funds are withdrawn. If more than 12 months remain until the CD matures, the EWP is six months of interest; if less than 12 months remain until maturity, the EWP drops to three months of interest.


Headquartered in Defiance, Ohio, State Bank’s market area includes the northwest Ohio counties of Allen, Defiance, Franklin, Fulton, Hancock, Lucas, Montgomery, Paulding, Wood, and Williams, and the Fort Wayne, Indiana area.

While State Bank does have an online application for a portion of its product line, opening a CD must be done at any of the 19 Ohio branches located in Bowling Green, Bryan, Defiance (3) Delta, Dublin, Findlay, Lima, Luckey, Lyons, Montpelier, Oakwood, Paulding, Perrysburg, Pioneer, Sylvania, Walbridge, and Wauseon, or the sole Indiana branch located on Coldwater Road in Fort Wayne.

Bank Overview

State Bank has an overall health grade of "A+" at, with a Texas Ratio of 2.49% (excellent) based on December 31, 2017 data. In the past year, State Bank has increased its total non-brokered deposits by $54.69 million, an excellent annual growth rate of 9.4%. Please refer to our financial overview of State Bank (FDIC Certificate # 13339) for more details.

Founded in 1902 by Elbert E. Carter, The State Bank of Defiance Company was one of the few banks in the area to remain open during The Great Depression. While the Bank’s name was changed to The State Bank and Trust Company in 1956, it has been known as State Bank for quite some time. State Bank is currently Ohio’s 26the largest bank, with assets in excess of $875 million.

How the CD Compares

When compared to the 221 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available within the Bank’s market area, State Bank's 48-month CD APY currently shares top ranking with Connexus Credit Union’s 42-month Certificate APY.

The above rates are accurate as of 5/29/2018.

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

Related Pages: Fort Wayne CD rates, Columbus CD rates, Toledo CD rates, Lima CD rates, 1-year CD rates, 5-year CD rates


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