TheStreet and RateWatch Report Top CD Rate Issuers PR Newswire NEW YORK, Jan. 8, 2013 NEW YORK, Jan. 8, 2013 /PRNewswire/ --RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that the average national rate on a 4-year and 5-year CD fell 0.01 percent based on data collected from over 90,000 financial institution locations. RateWatch also reported today the top rate issuers across the nation along with financial strength ratings. (Logo: http://photos.prnewswire.com/prnh/20130102/NY35868LOGO-b ) The main reason for bank deposit rates being so low for so long is the Federal Reserve's accommodative policy of keeping its target range for the short-term federal funds rate in a range of zero to 0.25% since late 2008; however, The Federal Deposit Insurance Corporation's Transaction Account Guarantee Program ended on Dec. 31, and that could put some pressure on smaller banks' liquidity. The Transaction Account Guarantee Program went into effect in November 2008, to essentially remove any limit on FDIC deposit insurance coverage for most noninterest-bearing transaction accounts. This provided a tremendous boost in cheap liquidity, even for banks in weak financial condition, because small businesses no longer had to worry about the safety of their checking account deposits, which could easily exceed the normal deposit insurance limits. Now that the program has ended, businesses who were sticking with the banks because of the certainty of the deposit insurance protection may consider other cash management options, including non-bank money market funds. With money market funds paying very low rates, it would be surprising to see quick movement out of bank checking accounts, however, some community banks that still have a high level of nonperforming loans could see some deposit flight, putting pressure on them to be more competitive in attracting non-checking deposits. NATIONAL AVERAGE RESULTS - $10K National Average Results -10K This Last week week Money Market 0.12 0.12 1 month CD 0.06 0.06 3 month CD 0.10 0.10 6 month CD 0.17 0.17 1 year CD 0.26 0.26 2 year CD 0.42 0.42 3 year CD 0.56 0.56 4 year CD 0.69 0.70 5 year CD 0.89 0.90 TOP RATE ISSUERS - $10K This is a list of issuers with top interest rates. The issuer's Financial Strength Rating is an independent, unbiased evaluation of quarterly regulatory statements. Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity. For more information, visit www.weissratings.com/help/what-our-ratings-mean.aspx. Information is believed to be accurate, but not guaranteed. Financial Minimum Money Market Strength to Earn APY Rating Interest Sallie Mae Bank 801-281-1423 A- 1 1.050 www.salliemaebank.com Green Bank, National Association 713-275-8370 C 500 1.000 www.greenbank.com Ally Bank 877-247-2559 B 1 0.950 www.ally.com Financial Minimum 1 Month CD Strength to Earn APY Rating Interest First NBC Bank 504-671-3550 C+ 1000 0.510 www.firstnbcbank.com Pinnacle Bank 402-529-3581 B- 500 0.500 www.pinnbank.com Carter Bank & Trust 828-325-9800 C 2500 0.500 www.carterbankandtrust.com Financial Minimum 3 Month CD Strength to Earn APY Rating Interest Eloan.com 888-533-5333 D+ 10000 0.650 www.eloan.com EverBank 888-882-3837 D 1500 0.560 www.everbank.com Beal Bank USA 205-202-8511 C 1000 0.511 www.bealbankusa.com Financial Minimum 6 Month CD Strength to Earn APY Rating Interest Carter Bank & Trust 910-630-2500 C 2500 1.000 www.carterbankandtrust.com Doral Bank 212-329-3700 E+ 1000 0.900 www.doralbankdirect.com Beal Bank USA 702-598-3500 B 1000 0.750 www.bealbankusa.com Financial Minimum 1 Year CD Strength to Earn APY Rating Interest Doral Bank 212-584-6820 E+ 500 1.150 www.doralbankny.com Beal Bank USA 786-347-3601 B 1000 1.110 www.bealbankusa.com Sallie Mae Bank 801-281-1423 A- 1 1.050 www.salliemaebank.com Financial Minimum 2 Year CD Strength to Earn APY Rating Interest Doral Bank 212-584-6820 E+ 500 1.400 www.doralbankny.com FirstBank Florida 305-740-9522 D 1000 1.250 www.firstbankfla.com Compass Bank 205-297-1986 D+ 5000 1.250 www.bbvacompass.com Financial Minimum 3 Year CD Strength to Earn APY Rating Interest First NBC Bank 504-671-3550 C+ 10000 1.970 www.firstnbcbank.com Doral Bank 212-584-6820 E+ 500 1.550 www.doralbankny.com First Guaranty Bank 985-345-7685 C- 500 1.450 www.fgb.net Financial Minimum 4 Year CD Strength to Earn APY Rating Interest Institution for Savings In Newburyport 978-462-3106 B 1 1.750 www.institutionforsavings.com Yakima Federal Savings & Loan Association 509-248-2634 A- 10000 1.750 www.yakimafed.com First Guaranty Bank 985-345-7685 C- 500 1.700 www.fgb.net Financial Minimum 5 Year CD Strength to Earn APY Rating Interest First NBC Bank 504-671-3550 C+ 10000 2.120 www.firstnbcbank.com Carter Bank & Trust 828-325-9800 C 100 2.020 www.carterbankandtrust.com Institution for Savings In Newburyport 978-462-3106 B 1 2.000 www.institutionforsavings.com Financial Strength Rating: A=Excellent, B=Good, C=Fair, D=Weak, E=Very Weak Plus sign "+" = top of range, Minus sign "-" = bottom of range Data is surveyed weekly with averages calculated each Monday afternoon from RateWatch's unbiased national interest rate survey of over 90,000 financial institution locations across the United States. About RateWatch For over 20 years, RateWatch has been the premier provider of competitive interest rate and product information to financial institutions across the United States. Consistently providing top quality, highly relevant data RateWatch maintains the largest database in the industry with deposit, loan, and fee information monitoring over 90,000 locations.Rate surveys, product comparisons, financial strength reporting, local/regional/national averages, fee reporting, specialty reports and more are available. To learn more about RateWatch, visit www.rate-watch.com. RateWatch is a division of TheStreet, Inc. About TheStreet TheStreet, Inc. is a leading digital financial media company that distributes its content through online, social media, tablet and mobile channels. The Company's network of brands includes: TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts PLUS, Options Profits, Chat on TheStreet, MainStreet and RateWatch. For more information on TheStreet's business, visit http://www.t.st. For financial and business news, actionable trading ideas, stock quotes and more, visit TheStreet.com, follow TheStreet on Facebook and Twitter, and access TheStreet through all major mobile and tablet platforms. For more information on The Deal, visit www.thedeal.com. Contact: Erin Corcoran TheStreet, Inc. 212-321-5566 firstname.lastname@example.org SOURCE TheStreet Website: http://www.rate-watch.com
TheStreet and RateWatch Report Top CD Rate Issuers
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