Recent Rise in Long-Term Rates Bodes Well for Bank Profitability TheStreet and RateWatch Report Top CD Rate Issuers PR Newswire NEW YORK, Jan. 29, 2013 NEW YORK, Jan. 29, 2013 /PRNewswire/ --RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that interest rates for savings products are holding steady. The average interest rate on a 5-year CD decreased by one basis point based on data collected from over 90,000 financial institution locations. (Logo: http://photos.prnewswire.com/prnh/20130102/NY35868LOGO-b ) Market yields for 10-year U.S. Treasury bonds reached the 2.00% line on Monday, for the first time since April 25 of last year, according to the Treasury's data. The recent rise in long-term rates will eventually bode well for profitability for many banks, as yields on other long-term assets rise, although in the near term, a concurrent rise in mortgage backed securities yields means lower profits for banks on the sale of newly originated loans. It is too early in this rate cycle for the rising long-term rates to translate to higher deposit rates. The Federal Reserve Open Market Committee in December said that it expected to keep its target short-term federal funds rate in a target range of zero to 0.25% for "at least as long as the unemployment rate remains above 6-1/2 percent," and as long as inflation projections remain within 0.5% of the central bank's long-term goal of 2%. 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 0.16 0.16 1 year CD 0.26 0.26 2 year CD 0.41 0.41 3 year CD 0.55 0.55 4 year CD 0.68 0.68 5 year CD 0.87 0.88 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 0.900 www.ally.com Financial Minimum 1 Month CD Strength to Earn APY Rating Interest First NBC Bank 504-671-3550 B- 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 C- 10000 0.650 www.eloan.com EverBank 888-882-3837 D+ 1500 0.600 www.everbank.com Beal Bank, SSB 205-202-8511 C 1000 0.511 www.bealbank.com Financial Minimum 6 Month CD Strength to Earn APY Rating Interest 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 Discover Bank 888-765-6654 C+ 2500 0.750 www.discoverbank.com Financial Minimum 1 Year CD Strength to Earn APY Rating Interest 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 Doral Bank 850-914-2525 E+ 500 1.050 www.doralbankflorida.com Financial Minimum 2 Year CD Strength to Earn APY Rating Interest Doral Bank 850-914-2525 E+ 500 1.300 www.doralbankflorida.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 B- 10000 1.970 www.firstnbcbank.com First Guaranty Bank 985-345-7685 C 500 1.450 www.fgb.net Doral Bank 850-914-2525 E+ 500 1.450 www.doralbankflorida.com 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 First Guaranty Bank 985-345-7685 C 500 1.700 www.fgb.net Green Bank, National Association 713-275-8370 C+ 1000 1.700 www.greenbank.com Financial Minimum 5 Year CD Strength to Earn APY Rating Interest First NBC Bank 504-671-3550 B- 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 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 RELATED LINKS www.rate-watch.com SOURCE TheStreet Website: http://www.t.st
Recent Rise in Long-Term Rates Bodes Well for Bank Profitability
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