Bank-CD-Rates.Net Blog

Delaware (DE) Banks CD Rates

Administrator — Fri, 31 Oct 2008 06:47:52 +0000

This is be a part two of my four part series on banks in the states of the Vice Presidential/Presidential candidates. This post will focus on Joe Biden’s homestate; the banks of Delware and their CD Rates.

First thing you’ll notice is the banks in Delaware are some of the larger banks in the US and many of them are having financial problems. Joe so kindly helped pass a bail-out plan to help them out. AIG took the bail-out and then had a big party. Nice.

Bank Name	FDIC#	Profit	WC*	APY
HSBC Bank USA, NA	57890	No	Yes	6-Mos	4.00%
TD Bank, NA	18409	Yes	Yes	6-mos	3.50%
Lehman Brothers Bank	30890	Yes	Yes	N/A	N/A
Wachovia Bank (soon to be Wells Fargo)	33931	No	Yes	1-Year	4.15%
AIG Federal Savings Bank	35267	No	Yes	1-Year	4.05%
Christiana Bank & Trust Company	233875	Yes	Yes	N/A	N/A
The Felton Bank	12700	Yes	Yes	2-Year	3.50%
Community Bank Delaware	58311	No	Yes	N/A	N/A
Bank of New Castle	27575	Yes	Yes	N/A	N/A

— From Freakingnews.com

I hope you enjoy the series.

*WC stands for Well-Capitalized. This means that the Total risk-based capital ratio is above 10% (the higher the number the better). The definition from the FDIC Reads, “Total risk-based capital ratio:
Total risk based capital as a percent of risk-weighted assets as defined by the appropriate federal regulator for prompt corrective action during that time period.”

FDIC Increases Insurance Limit

Administrator — Wed, 08 Oct 2008 05:55:22 +0000

On October 3, 2008, President Bush signed the Bail-out plan into law. Part of the package was an increase in the FDIC insurance limit to $250,000.00. At this time, however, it is only temporary. This part of the plan is set to expire on 12/31/2009.

In the meantime, as long as you keep the maturity of any new CDs before or on 12/31/09, you can increase your deposits at banks you already have funds at to a maximum of $250,000.00. Review your portfolio of CDs. Many of the current bank rates you have will still be paying a top CD rate. Go ahead and put more funds there.

If you are opening up jumbo CDs, just make sure you keep the principal and interest below the new FDIC insurance limit of $250,000.00. That way it is all insured.

Good luck and happy jumbo CD rate hunting.

CD Rates In USA

Administrator — Tue, 30 Sep 2008 03:45:14 +0000

Now that the bail-out has failed it will be interesting to see what happens to the CD Rates in the USA. Apparently, the House of Representatives is closed for a few days to honor the Jewish Rosh Hashana holiday.

Two things could happen in the short-term. 1) USA CD Rates will rise. This is because banks are unwilling or unable to loan to each other. This will force the overnight rate well above the FOMC target of 2.00%. Banks will need to raise deposits and with so many competing against each other, CD rates will go up. Tomorrow being the end of the month and quarter, many USA banks will want to have their books looking healthy. If you have extra funds, do some searching and some calling. CD Brokers may be especially attuned to high CD Rate offers since many banks use them as a funding source.

2) CD Rates in the USA may go down. The Fed may be in the mood to lower rates to try to force the short-term rates down and encourage banks to lend to one another and open up their pipelines to people and businesses like you and me. This may work short-term, but unless a real fix comes through, rates will trickle back-up.

Here are some high interest CD Rates.
Corus Bank, IL: 1-year at 4.60% APY – 1-Star

Geauga Savings Bank, OH: 1-year at 4.61% APY – 2-Star

EverBank, FL: 1-year at 4.38% APY. — 4-Star

State Bank of India, NY: 2-year at 4.52% APY – 4-Star

Ratings by Bankrate.com

$700BB - You’ve Got To Be Kidding

Administrator — Wed, 24 Sep 2008 03:54:45 +0000

I’m sorry, but I just can’t jump on the band wagon for this bail-out. I know a lot of people are saying it is necessary or the American financial system will fail. Poppy-cock. Without the bail-out the cleansing that needs to take place will take place. With the bail-out more risky behaviour will be encouraged.

$700BB is a huge sum of money to add to an already out-of-control debt situation. Don’t do it. Please don’t do it.

I would keep your funds in a few on-line savings accounts and CDs. If you have some extra make some careful stock purchases, but be very careful.

This is America. We don’t need anymore bail-outs.

Alaska (AK) Bank Rates

Administrator — Fri, 12 Sep 2008 03:27:25 +0000

I thought it might be fun to feature banks in the home states of the current Presidential / Vice-Presidential candidates. As most of you know, the VP for the Republican Party is Sarah Palin from Alaska (AK).

This will be a four-part series and after I’m all done, I’ll try to draw some conclusions for the upcoming election. For now, here is a run-down of banks in Alaska and their CD Rates.

Bank Name	FDIC#	Profit	WC*	APY
Wells Fargo	5146**	Yes	Yes	22-Mos	3.00%
First National Bank Alaska	16130	Yes	Yes	5-Year	3.50%
Northrim Bank	33216	Yes	Yes	3-Year	3.50%
First Bank, AK	14885	Yes	Yes	3-Year	3.82%
Mt. McKinley Bank	19525	Yes	Yes	5-Year	3.98%
Denali State Bank	26530	Yes	Yes	5-Year	3.50%
Alaska Pacific Bank	29849	No	Yes	2-Year	3.50%

Wouldn’t you know it. I started this a few days ago, and now there are rumors that Obama is going to replace Biden with Hillary. Which state would I chose for her, AR, DC, or NY?!?

I hope you enjoy the series.

**The full title of this bank is Wells Fargo Bank South Central, National Association. It is separately insured from the main Wells Fargo Bank, but the website on the FDIC website takes you to the main WF site.

Heritage Bank, NA — Arizona CD Rates

Administrator — Sat, 23 Aug 2008 02:58:56 +0000

Heritage Bank, NA has some sweet CD rates. There is more than one Heritage Bank in the USA. This one is based in Phoeniz, AZ (Arizona) and their FDIC# is 58416. The bank was established in September of 2006. The bank has almost $163MM in assets. They do have a 250K operating loss, but new banks usually do for about three years. The core ratios look pretty good.

Their Certificate of Deposit Rates are as follows:

1-Year CD	4.30%
2-Year CD	4.50%
3-Year CD	4.70%
4-Year CD	4.80%
5-Year CD	5.00%

Here is a link to their site. I believe you can apply and fund on-line.

Zopa Loans - Person-to-Person lending

Administrator — Thu, 14 Aug 2008 06:01:20 +0000

Although this site is generally about CD and Savings Rates, I thought you may be interested in a loan program I discovered. It is called Zopa and can be found at Zopa Personal Loans

Person-to-Person lending basically cuts the bank out of the picture and people lend directly to one another. Zopa adds a twist to this by guaranteeing the funds that the lender is adding to the system. The funds the lender adds are backed by an NCUA insured CD. This does make the return lower than other peer-to-peer lending services, but it also means you can’t lose your principal.

For the lendee, the rate you receive should be much lower than what the bank would offer you. Zopa advertises Interest rates 50% lower than the big banks on Personal Loans, Small Business Loans, Debt Consolidation Loans, and more. Get a Free Quote.

WT Direct Internet Savings Rate

Administrator — Sat, 02 Aug 2008 23:58:56 +0000

WT Direct is the internet presence of Wilmington Trust FSB. Their FDIC# is 33911. Wilmington Trust is headquartered in Baltimore, Maryland. As of March 08, they have about $683MM in assets, putting them in the medium sized bank category. They do have a 1st quarter loss of $2MM. Many banks these days do.

They made a profit of about $1.3MM at the end of 2007. They have an attractive savings rate available on the internet of 3.31% APY. There are some higher, but this is one of the best. However, if you have reached the FDIC limits at the other banks, this is a good one.

Alliant Credit Union CD Rates

Administrator — Sat, 26 Jul 2008 00:48:17 +0000

Alliant Credit Union has decent CD Rates. As rates were coming down they continued to have rates above market. However, as rates have begun to come back up they have been slow to respond and are being left behind.

Their Certificate of Deposit Rates are as follows:

1-Year CD	3.90%
2-Year CD	4.05%

Like some credit unions out there they do allow for nationwide membership by joining an association. In Alliant’s case it is the National PTA. Another thing to note is that the interest is only paid out at maturity. You can not receive the interest on a monthly basis, so this CD is not good for those seeking monthly income.

Alliant’s NCUA# is 67955. They are federally insured just like an FDIC insured bank. They currently have about $5.3BB in assets and are fairly large as far as credit unions go. Unlike many banks, they do currently have a healthy profit and have a nice Equity/Asset ratio of 11.79%.

The website address for their rates is www.alliantcreditunion.org/services/rates/.
The main site is www.alliantcreditunion.org

They also currently have a nice savings rate of 3.75% APY.

IndyMac Bank Taken Over By FDIC

Administrator — Sun, 13 Jul 2008 04:04:52 +0000

[Update: 7/11/08, 11:35 PM PST] — As I read through the press release, it appears that the FDIC plans on running the new bank until they can find someone to purchase the assets. It mentions normal bank services and hours will resume on Monday at all branches. However, uninsured deposits will still need to make a claim, but they are also paying a 50% dividend on those. I’ll post more info as it becomes available.

The FDIC took control of IndyMac bank late Friday. They love to make these end of Friday annoucements so as to prevent panic at the bank.

The Bank will reopen on Monday as IndyMac Federal Bank, FSB. IndyMac had a $1.3 Billion dollar run on the bank over the last eleven days and the FDIC was concerned it would not be able to meet demands.

One news sourced indicated ATM Machines, debit cards, and checks would be honored over the weekend. People with uninsured deposits could begin making appointments on Monday to file a claim.

It isn’t clear what the “new” FDIC controlled bank will do, but I would suspect, the insured deposits would be paid out. I’ll keep you posted. I’m sure if you call the toll free # on Monday, better information will be available. Here is the number for the FDIC Call center, 866-806-5919.

Here is info from IndyMac’s website:

On July 11, 2008, IndyMac Bank, F.S.B., Pasadena, CA was closed by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) was named Conservator. All non-brokered insured deposit accounts have been transferred to IndyMac Federal Bank, F.S.B., Pasadena, CA (”assuming institution”) a new FDIC-insured Federal Mutual Savings Bank. No advance notice is given to the public when a financial institution is closed.
The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a business checking account, a Social Security direct deposit, and other relationships with the institution.

Please select the link below to read more about this event:

FDIC Bank Closing Information for IndyMac

The IndyMac websites are expected to be available Monday, July 14, 2008.

If the balance in your account(s) (this includes any accounts in which you have an ownership) is less than $100,000, no action is required on your part at this time. Your entire insured account(s) will be transferred to IndyMac Federal Bank and will be available for business as usual during regular business hours.

FDIC CALL CENTER
866-806-5919

CALL CENTER HOURS OF OPERATION:
Friday, 7/11/08, 3:00 p.m. - 9:00 p.m. Pacific
Saturday, 7/12/08, 8:00 a.m. - 8:00 p.m. Pacific
Sunday, 7/13/08, 8:00 a.m. - 6:00 p.m. Pacific
THEREAFTER
Monday through Friday, 8:00 a.m. - 8:00 p.m. Pacific

I really thought they would pull through.