Wilshire State Bank is currently offering the highest six month CD rate available nationally by a rather significant sum.  The six month rate presently available at Wilshire stands at 2.52%.  This CD rate is a whopping 49 basis points or 49/100 of a percent above the next best six month CD rate.  The average for the top ten best six month CD rates is just barely over 2.00% at 2.03% for the week ending June 12, 2009.

Unfortunately, these rates are set to expire at the end of the week.  Per a Wilshire Bank representative, the six month CD rate at 2.52% will no longer be offered as of June 19, 2009.  At that time the rate is being reduced to 1.95%.  Presently, Wilshire State Bank also offers a one year CD with an interest rate of 2.52%.  This one year rate is the second best bank rate for that term available nationally.

The six month CD rate requires a minimum deposit of $1,000.00.  The bank CD account can be opened online or at one of the Wilshire State Bank offices in California, Texas, New York or New Jersey.

Wilshire State Bank offers both personal and commercial banking services through its 21 bank branches located in four states.  The bank was founded in 1980 and is based in Los Angeles.  Wilshire State Bank operates as a subsidiary of Wilshire Bancorp Inc a publicly traded corporation, NASDAQ symbol: WIBC.

Wilshire State Bank is chartered as a Federal Reserve Non-Member bank.  The primary regulator for the bank is the FDIC.  The bank’s total assets stand at approximately $2.6 billion with total deposits of $1.9 billion.  For the first quarter of 2009, the bank reported net income of $3.9 million and a net income of $29.8 million for all of 2008.  The bank’s total risk based capital ratio was 16.21% at the end of March 31, 2009.  At that same time, the tier 1 risk based capital ratio was 14.67%, the leverage ratio was 12.39% and non current loans were 1.81% of total loans outstanding.  These ratios place Wilshire State Bank in a category that exceeds the requirements of a well capitalized bank set by banking regulators.

CD rates are subject to change at the bank’s discretion.  For current bank rates, CD rates and account information contact a Wilshire State Bank representative at 866-886-2265.  Rate information and account information is also available at the Wilshire State Bank website located at www.wilshirebank.com.

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