State Bank of Southern Utah is a community bank with branches located in southwestern Utah.  Its corporate headquarters is located in Cedar City.  It was established in 1957 and there are fifteen bank branches.  State Bank of Southern Utah has been FDIC insured since February 2, 1959.  State Bank of Southern Utah is chartered as a Federal Reserve Non-member.  Therefore the primary regulator is the Federal Deposit Insurance Corporation.  The bank had assets of $611,210,000 at the end of 2008.  For the full year, the bank had net income of $7,724,000.

State Bank of Southern Utah offers various products and services to its members at competitive rates.  The bank offers home loans, auto loans, business and agricultural loans.  The FDIC insured checking accounts, savings accounts, CDs and money market accounts are competitively priced.  With a minimum opening deposit of $500.00, State Bank of Southern Utah provides the following CD rates:

A one month CD rate is 1.00% APY.
A three month CD rate is 1.26% APY.
A six month CD rate is 2.77% APY.
An eighteen month CD rate is 3.03% APY.
A two year CD rate is 3.16% APY.
A three year CD rate is 3.29% APY.
A four year CD rate is 3.42% APY.
And a five year CD rate is 3.55% APY.
 
The bank is also offering a one year CD rate add on is 3.03% APY.  Which mean you may add money at any time.

The CD interest accrues daily but compounds according to a schedule associated with each CD term.  Compounding means that accrued interest is added to principal.  If you close the account before the interest compounds, the bank pays the accrued interest less any applicable withdrawal penalty.  All CDs have a grace period of 10 calendar days after maturity during which the owner may redeem it without incurring a withdrawal penalty
 
CD interest payments can be transferred to a State Bank of Southern Utah checking or savings account.  This feature is available on all of the bank CDs at no charge.  Interest transfers will match the CD’s compounding schedule.

Bank interest rates are subject to change.  Additional conditions may apply.  For current bank CD rates and account information contact the bank directly at 800-662-1788.  CD rates, account information and other disclosures can be found at the bank website, www.sbsu.com.

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