WestSide CD Rates

A locally owned community bank chartered in Hiram, Georgia.  Lending and credit decisions that are made right there and not somewhere else in another city or state.  That’s WestSide Bank. 

The bank was established on August 8, 2006 and has been FDIC insured since that time.  WestSide Bank is chartered as a Federal Reserve Non-member.  The primary regulator is the Federal Deposit Insurance Corporation (FDIC).  The bank has assets of $133,886,000 and had a rather sizable net loss in 2008 of -$4,533,000.

Condition ratios for the bank showed a core capital or leverage ratio at 12.80%, tier 1 risk-based capital ratio is 14.63% and total risk-based capital ratio of 16.50%.  However noncurrent loans to total loans stood at a relatively high 9.90%.

WestSide Bank offers several consumer products for savings and transaction accounts.  The bank personal savings account has a $100.00 minimum to open.  There is a $10.00 monthly maintenance fee that can be avoided by maintaining a $100 average daily balance.  The savings account allows for unlimited deposits.  Interest is compounded daily, credited monthly and paid on collected balance. 

The bank offers a personal money market account that requires a $1,000.00 minimum to open.  There is an $8.00 monthly maintenance fee on the money market account that can be avoided by maintaining a $1000 average daily balance.  The money market account allows six (6) free withdrawals per month, three (3) to third parties.  The money market account provides imaged checks and interest is compounded daily on collected balances and credited to the account monthly.  This is a tiered money market account with four tiers of Interest.

The bank certificates of deposit have a $1,000.00 minimum to open.  The CD terms range from three (3) months to sixty (60) months.  These CDs have automatic certificate renewal, the interest may be reinvested, deposited to another account, or paid by check.  The certificates of deposit may be used as collateral on loans at the bank as well.

3 month CD rate is 1.40% APY
6 month CD rate is 2.00% APY
One year CD rate is 2.40% APY
Two year CD rate is 2.54% APY
Three year CD rate is 2.75% APY
Four year CD rate is 2.80% APY
Five year CD rate is 2.95% APY

Rates and annual percentage yield (APY) are subject to change.  Fees may reduce earnings.  These rates are effective as of today, for current bank CD rates contact the bank at 770-445-1855.  Additional account information and bank rates can be found on the bank website, the web address is www.westsidebank.net.

Tags: 6 month CD rates, bank CDs, bank rates, Banks, CD rates, CD rates Georgia, certificate of deposit, five year CD rates, Georgia bank, money market, one year CD rates, savings, two year CD rates, WestSide Bank

This entry was posted on Wednesday, March 4th, 2009 at 1:23 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.