Central Illinois Bank CD Rates and More

Central Illinois Bank is an Illinois chartered bank and wholly owned subsidiary of CIB Marine Bancshares.  Central Illinois Bank offers both personal and business banking solutions.  The bank is based in Champaign, Illinois with additional bank branches in Danville, Arrowsmith, Bloomington, East Peoria, Decatur, and Arthur, Illinois.

The bank provides lending products including demand deposits, savings deposits, money market accounts, time deposits or CDs, term loans, real estate financing, credit cards, and consumer loans.

CIB Marine Bancshares, Inc. operates as a multi-bank holding company. CIB Marine, through the bank branch network of its subsidiaries, provides a broad range of financial services to companies and individuals.  The company owns Central Illinois Bank and Marine Bank, which operates in the Central Illinois, Wisconsin, Indiana, and Arizona markets.  With over 20 branches, the banks accommodate individuals and small and midsized-business customers, offering checking and savings accounts, ATM and debit cards, CDs, and IRAs and more.  CIB Marine’s loan portfolio mainly consists of commercial mortgages, business loans, and commercial real estate construction loans.

At September 30, 2008, CIB Marine Bancshares, Inc had total assets were $937.1 million compared to $1.0 billion at the end of 2007.  The year-to-date net interest margin of the company declined to 2.20% in the first nine months of 2008 from 2.45% in first nine months of 2007.

The Tier 1 leverage capital ratio of CIB Marine declined to 4.16% as of September 30, 2008 from 7.92% at December 31, 2007.  This remains above the minimum required to be classified as “adequately capitalized” under regulatory guidelines (4.00%).  CIB Marine’s subsidiary banks, Central Illinois Bank and Marine Bank, both continue to be classified as “well capitalized” under regulatory prompt corrective action guidelines at September 30, 2008.

Central Illinois Bank certificates of deposit earn a competitive rate, while also providing the safety of FDIC insurance.  Withdrawals made prior to the maturity of the bank CDs may be subject to an early withdrawal penalty.  Minimum deposits start as low as $500.00.  Central Illinois Bank offers the followings CD rates and terms on these products:

A seven month CD yielding an interest rate of 2.50% APY.
A twelve month CD which earns an interest rate of 2.85% APY.
A thirty-six month CD with a rate of 3.50% APY.
A sixty month CD that has an interest rate of 3.75% APY.

$2,500 minimum balance required to open and obtain the CD rates on these specials.  With the bank CDs, the accountholder may choose to compound their interest or automatically transfer it each month to a bank checking or savings account.  CD rate offers may be changed, adjusted or withdrawn without notice.  Additional conditions may apply to these accounts.  Current CD rates and account details can be obtained by calling the bank at 309.727.1331 or visiting the bank website at www.centralillinoisbank.com.

Tags: Banks, CD rates, CD rates Illinois, Central Illinois Bank, Illinois bank, money markets, rates, savings

This entry was posted on Tuesday, January 27th, 2009 at 4:18 pm and is filed under Bank Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.