There was a time when you could walk into your local community bank, plop down a $100,000 for a Jumbo CD, and the bank would practically fall over to offer a high Jumbo CD Rate. Those days seem long gone. The internet has made it easy for you to find high rates for your CDs, but it has made it too expensive for the local banks to compete.
As a result, it seems like there are hardly any community banks left. Most of them have been gobbled up by the likes of JP Morgan Chase, Wachovia, Wells Fargo, Bank of America, etc. Those banks don't even offer good rates (except for Wachovia, they are having some cash problems), let alone jumbo CD rates. Usually, they don't have to. They have such a large amount savings and checking accounts that they don't need to attract deposits with high interest rates.
The internet has also made it easy for banks to accept deposits of all sizes. The processes are so automated that rarely is a person even needed. The systems can automatically verify your ID and usually you are able to fund the accounts right away. Banks are able to operate with fewer employees. Some of those savings are passed on to you in the form of higher rates, but most goes to the stockholders. I’m all for profit, but when something does go wrong, it takes so much time to get a hold of anyone anymore.
You may still have luck with your local bank offering a good rate for a jumbo CD, but most likely, your find better jumbo CD rates searching the web.