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Bank of Smithtown is a 98 year old community bank headquartered in Hauppauge, New York. The bank has 15 bank branches located along the north shore of Long Island. It is a full service commercial bank focused upon serving small business customers and consumers. The bank also offers insurance, trust and investment services. The bank
Silver Lake Bank was opened in 1909 in Topeka, Kansas. The bank also has three other bank branches in Kansas serving the local communities. Silver Lake Bank serves these communities with a variety of individuals and businesses bank products and services. Competitive rates of interest are offered on number of savings products and the deposits
One one-hundredth of a percentage point. The difference between 8.04 percent and 8.05 percent is one basis point.
APY measures the rate of return on an interest bearing asset over a period of one year and is a good tool to measure the best rates between bank savings account, money market account and CD rates. APR measure the cost of borrowing funds over a period of one year and is good tool to
Bank certificate of deposit rates were lower for the third consecutive week in 2010. The average yield for the top ten best bank CD rates available nationally fell across all maturities. For the week ending January 22, 2010 the short term bank CD rates incurred the most damage while the mid term and longer term CDs
The FDIC is the Federal Deposit Insurance Corporation. It is the primary regulating body of state chartered banks that are not members of the Federal Reserve System. It insures the deposits of individual accounts up to $100,000.00 per account.
A credit union is a financial institution that is privately owned by its members or customers. Unlike a bank, a credit union operates as a non-profit entity and does not put profitability first. Like banks, credit unions must be concerned about its deposits and lending activities and provide stability and service. Credit
This is the fourth article in a sequence of evaluating banks and bank CDs in Hawaii. Pacific Rim Bank is the bank being reviewed during this segment. Pacific Rim Bank is a Hawaii state chartered commercial bank located in Honolulu, Hawaii. Pacific Rim Bank has several high rate CDs available. On the short end of
The Fed Funds Rate is generally considered the primary tool that the Federal Open Market Committee of the Federal Reserve uses to influence interest rates and the economy. Changes in the Fed Funds Rate will have a significant effect on bank rates by influencing the borrowing cost of banks in the overnight lending market. The cost of
An EFT authorized in advance to recur at substantially regular intervals.
Level One Bank officially opened on October 5, 2007 in Farmington Hills, Michigan. Level One Bank offers personal and commercial banking services. The bank has several choices to accommodate personal banking needs from free checking accounts to high rates of interest on a number of FDIC insured deposit options, or great rates on home equity
Century Bancorp, Inc. is a Massachusetts state chartered bank holding company headquartered in Medford, Massachusetts. The holding company is a Massachusetts corporation formed in 1972 and has one banking subsidiary, Century Bank and Trust Company that was formed in 1969. The bank had total assets of approximately $1.7 billion as of September 30, 2008. The
A brokered CD is a CD that is sold through an intermediary, usually a brokerage firm, rather than directly by the bank or savings institution itself. Brokered CDs are issued by banks but are made available to the customers of the deposit broker. Some banks, besides providing CDs directly to their customers, broaden the number
Check 21 is the informal name for an act created by Congress in 2003 to help modernize the check processing system with the use of digital imaging. Many banks now clear checks with just digital images of the checks instead of the checks themselves. These reduces check processing costs for financial institutions and
Rose Hill Bank in Kansas is offering one of the highest CD rates in the state. This community bank has current CD special with a 13 month CD that has an interest rate of 3.60% APY. The bank CD requires a minimum deposit of only $1,000.00 to earn the special rate. With a deposit of
A collection of securities owned by an individual or an institution, such as a mutual fund, that may include stocks, bonds, and money market securities.
A senior official of the Federal Reserve Bank of New York discusses developments in the financial and foreign exchange markets, along with the details of the activities of the New York Fed’s Domestic and Foreign Trading Desks since the previous FOMC meeting. Senior staff from the Board of Governors present their economic and financial
A person who assumes the role of trustee under a trust agreement when the current trustee dies, resigns, is removed, or is otherwise unable to serve.
The amount paid by a mutual fund to the investment adviser for its services.
Citibank is running a 6 month CD promotion. The interest rate on the CD is 4.00%. Minimum opening deposit is a low $500.00. The ad specifies the 4.00% CD is available in Citibank Financial Centers in New Jersey, New York, Connecticut, Texas, Massachusetts, Pennsylvania and Illinois. A quick jump to the Citibank website at www.citibank.com
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