Oregon Coast Bank is a locally owned state chartered bank headquartered in Newport, Oregon.  Oregon Coast Bank has been FDIC insured since July 8, 2002.  The bank is chartered as a Federal Reserve Non-member bank.  Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC).   The bank has four bank branches in Newport, Pacific City, Lincoln City and Waldport.   The bank has assets of approximately $120,211,000.  For the first nine months of 2008 the bank had net income of $332,000 and net operating income of $1,107,000.

The bank has wide selection of standard consumer bank products including; checking accounts, savings, money market accounts, CDs, time deposits, IRAs, CDARS, home equity loans, auto loans, motorcycle and RV loans, boat loans, personal and consumer loans, credit lines and various residential mortgage programs.

The bank offers both fixed rate and variable rate CDs.  With the bank fixed rate CD, the term is selected and then the CD account is locked for a guaranteed rate of return.  The variable rate certificates afford an easy way to build up a bank CDs value over time. The bank offers 12 and 24 month terms with unlimited deposits after the $1000 minimum opening deposit.

For the fixed term and fixed rate CDs, the minimum investment is $1000 and the bank has terms from 30 days to 36 months.  The CD interest can compound to the bank CD account or be transferred to another Oregon Coast Bank account.

1 month CD rate 1.50% APY
3 month CD has an interest rate of 2.20% APY
6 month CD rate is 2.20% APY
1 year CD yields a rate of 2.35% APY
2 year CD rate is 2.95% APY
3 year CD rate is 3.10% APY

The 1 year variable rate CD is currently earning an interest rate of 2.35% APY and the 2 year variable rate CD has an interest rate of 2.95% APY.

CD interest rates and annual percentage yields are current as of January 29, 2009 but are subject to change.  Up to date CD rates and general account information can be obtained by calling the bank direct at 541-265-9000.  The web site includes account information, bank product descriptions and rates for CDs, IRAs, HSAs, checking accounts, money market accounts and savings accounts.  The bank web address is www.oregoncoastbank.com.

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