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First National Bank of Clarksdale was established to serve the financial needs of the community, its businesses and its citizens. The bank was established on April 1, 1964 and has been FDIC insured since that time. First National Bank of Clarksdale is chartered as a National Bank; therefore the primary regulator is the Office of
After the Fed statement Wednesday afternoon, Treasuries rallied and interest rates headed lower. The Fed statement, as predicted, stated nothing of significance other than perhaps the Fed’s belief that inflation will remain very low.
At the close of Wednesday, the three and six month Treasury rates were unchanged at 0.11% and 0.20%. The one year Treasury
On January 1, 1894, Watertown Savings Bank opened for business in Watertown, New York. The bank financial services promote thrift, home ownership, small business, employment, and economic needs in the region it serves. Watertown Savings Bank has been FDIC insured since July 1, 1943. Watertown Savings Bank is chartered as a FDIC Savings Bank. Therefore
Deposits denominated in U.S. dollars at banks and other financial institutions outside the United States. Although this name originated because of the large amounts of such deposits held at banks in Western Europe, similar deposits in other parts of the world are also called Eurodollars.
When you get a PIN number for your debit or credit card, choose and guard it carefully. When selecting a PIN, avoid picking a number that is easy for others to guess – for example, your name, telephone number, date of birth, or any simple combination of these. Never write down your
Weak retail sales, lower consumer confidence and benign inflation data had little to no impact on bank rates during the second week of April. The vast majority of the data released during the week that ended April 12th was positive for bank lending rates or for those who are interested in borrowing including current mortgage
Short term savings should be liquid, which means they should be easily turned into cash. Short-term savings should be secure and not be subject to the loss of principal. To meet these requirements the best products are FDIC insured bank products such as money market deposit accounts, short term CDS, and savings accounts
The official document that describes a mutual fund to prospective investors. The prospectus contains information required by the SEC, such as investment objectives and policies, risks, services, and fees.
Some long-term, high yield certificates of deposit have call features, meaning that the issuing bank may choose to terminate or call the CD after a predetermined period of time. The original investment with accrued interest will be return to the investor. Only the issuing bank may call a CD, not the account holder. A bank might decide
A negotiable instrument, principally a check but also notes and drafts, that has been sent to one bank for collection and payment and is returned unpaid by the sending bank.
Checkbook money that, for a period of time, appears on the books of both the payor and payee due to the lag in the collection process. Federal Reserve float often arises during the Federal Reserve check collection process. In order to promote an efficient payments mechanism with certainty as to the date funds
New regulations by the U.S Treasury are providing a temporary guarantee of money market fund asset values. Do to the instability in 2008 of short term money market instruments and the concern for significant and swift redemptions of money market mutual fund shares, the U.S. Treasury announced a temporary program to guarantee certain assets in
CD interest rates endured a minor dip for the week ending December 2, 2011. The average CD interest rate as measured by the Selectcdrates.com weekly CD rate index turned lower by less than half of one basis point for the week. A one basis point change is equal to 1/100th of a percent. The Selectcdrates.com
EVB Bank is an independent, full-service community bank located in Tappahannock, VA. The bank provides a wide range of financial products and services for personal and business banking including competitive Virginia CD rates. The bank offers standard retail bank services and products such as checking accounts and savings accounts, money market accounts, CDs, IRAs, and
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
The FDIC recently released an article regarding the topic of certain unfair and deceptive acts within the banking industry. The purpose of the article is on the analysis for determining an FTC Act violation not actual incidences within the banking industry.
In the publication, the standards are reviewed for what constitutes a deceptive or unfair business
To unbound a piece of real estate from a mortgage.
Since there are several different types of bank accounts, inflation will have varying degrees of impact on them. Inflation erodes the value of our money. Higher inflation leads to a greater amount of funds needed to purchase consumer goods. As goods become more expensive we need our investment rates of return to
Funds that a depository institution is required to maintain as vault cash or on deposit with a Federal Reserve Bank; required amount varies according to required reserve ratios set by the Board of Governors and the volume of liabilities that require the reserves held by the institution.
A form signed by each depositor and customer of a bank which may be used as a means of identification and may be used to establish account ownership and sets forth some of the basic terms of the account and provisions of the deposit contract. The signature card represents a contract between the bank