The Ottoville Bank Company has been serving the tri-county area surrounding Ottoville, Ohio since 1904. The Ottoville Bank is a full service, community bank dedicated to helping their customers meet their financial needs or goals. The bank has been FDIC insured since January 1, 1934 and the bank became a member of the Federal Reserve System in 1950. The Ottoville Bank Company is chartered as a Federal Reserve Member therefore the primary regulator is the Federal Reserve Board (FRB). As of September 2008, the bank had assets of $56,178,000. The bank has a tier 1 risk-based capital ratio of 39.12% and total risk-based capital ratio of 40.37%. Which means, the bank is beyond well capitalized. Someone in our office will have to make a note to see if there are any other banks in the region that have ratios that impressive.
The bank offers a variety of checking accounts to meet a wide array of personal needs. The bank also has different accounts available for businesses, clubs, estates, and charitable organizations. The Ottoville Bank Company has several savings plans available to meet consumer demand. For higher interest earning accounts, they offer many short term and long term certificates of deposit.
The Ottoville Bank Company offers a complete line of loan products at competitive interest rates and terms. The bank provides Individual Retirement Accounts which allows annual contributions per compensated individual as well as the Roth IRAs which is a nondeductible account that features tax free withdrawals for certain distribution reasons after a five year holding period. The bank can also support Education Savings Account (CESA) and Simplified Employee Pension Plan (SEP).
A sampling of recent CD rates and terms offered by The Ottoville Bank:
32-90 day certificate of deposit interest rate is .75% APY
181 day certificate of deposit has an interest rate of .75% APY
9 month certificate of deposit earns an interest rate of 1.00% APY
11 month certificate of deposit yields an interest rate of 2.25% APY
One year certificate of deposit yields rate is 1.25% APY
15 month certificate of deposit also has an interest rate of 1.25% APY
18-24 month certificate of deposit interest rate is 1.25% APY
25 month certificate of deposit yields an interest rate of 2.75% APY
Three year certificate of deposit has an interest rate of 1.75% APY
Four year certificate of deposit yields a rate of 2.50% APY
Five year certificate of deposit rate is 3.00% APY
The banks CDs have a minimum investment of $1000.00. Bank CD rates are subject to change prior to opening the account and additional account conditions may apply. For fresh CD rates and detailed information, the bank can be reached at 419-453-3313. CD rates and account information can also be located on the bank website, the web address is
www.ottovillebank.com.
Tags: 9 month certificate of deposit, Banks, CD rates, CD rates Ohio, five year CD rates, Ohio bank, one year CD rates, savings, The Ottoville Bank Company
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