Community Business Bank CD Rates California

Community Business Bank is a locally owned community business bank serving the greater Yolo, Solano, Sacramento, Placer, San Joaquin and contiguous counties of California.  The bank was established on November 14, 2005.  The bank is chartered as a Federal Reserve Non-member bank.

The bank offers checking accounts, savings and money market accounts, certificates of deposits, and health savings accounts for small to medium-sized businesses, professionals, and non-profit organizations, as well as individuals.  The bank also provides cash management solutions, including online cash management & bill payment, remote deposit, commercial cash sweep, merchant card processing, deposit courier service, and certificate of deposit registry service to businesses.  In addition, it provides various lending products to businesses and consumers.

Community Business Bank reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2008.  For the quarter, the company reported net loss of $639,000 on net interest income of $1,369,000 against net income of $43,000 on net interest income of $1,230,000 for the same period a year ago.  The improvement in net interest income for the quarter was primarily a result of earning assets increasing by $11 million and a reduction of interest expense of $344,000.  The major cause of the loss incurred for the fourth quarter of 2008 as well as for the full year was the increase in the provision for loan losses.

Community Business Bank offers a variety of s certificate of deposits that may be established for terms as short as 30 days up to 48 months.  The minimum opening deposit required to establish a CD is $10,000, with higher rates generally paid on balances of $50,000 and $100,000.  For all CDs, interest rates are compounded daily with interest generally posted either monthly or quarterly.

1 month CD earns an interest rate of 1.00% APY
3 month CD rate is 1.25% APY
6 month CD yields an interest rate of 1.50% APY
1 year CD rate is 1.80% APY
2 year CD has an interest rate of 1.90% APY
4 year CD rate is 2.50% APY

CD rates are subject to change daily; however, upon account establishment, bank CD rates are guaranteed for the entire term, subject to change at maturity.  Additional CD rate limitations may apply.  Community Business Bank provides deposit and lending services within the bank’s primary service areas of Yolo, Solano, Sacramento, Placer, San Joaquin and other contiguous counties within the state of California.  Community Business Bank does not provide banking services to businesses and individuals outside of the United States or other areas not designated by that list.  For current bank CD rate information call 916-830-3560.  Current CD rate information is available on the bank website as well as new account information and bank switch kits.  The bank web address is www.communitybizbank.com.

Tags: 1 year CD rates, 2 year CD rates, 4 year CD rates, 6 month CD rates, Banks, California bank, CD rates, CD rates California, Community Business Bank, rates

This entry was posted on Tuesday, February 3rd, 2009 at 9:32 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.