Exchange State Bank & Insurance is a locally-owned community bank with branches in Adair and Winterset, Iowa.  The bank was established on January 1, 1879.  Exchange State Bank has been FDIC insured since 1963.  Exchange State Bank is chartered as a Federal Reserve Non-member.  The primary regulator is the Federal Deposit Insurance Corporation (FDIC).  As of September 2008, the bank had assets of approximately $61,632,000.  The bank had net income for the first nine months of 2008 of $430,000.  At the end of September 2008 non current loan as a percent of total loans and leases stood at 2.30%, this is an increased form 1.65% in the third quarter of 2007.

With a minimum opening balance of $500.00 Exchange State Bank offers the following CD products:

A three month CD rate is 1.00% APY.
A six month CD rate is 2.17% APY.
A twelve month CD rate is 2.27% APY.

With a minimum opening balance of $250.00 Exchange State Bank also offers the following CD products:

An eighteen month CD rate is 2.47% APY.
A twenty-four month CD rate is 2.68% APY.
A thirty month CD rate is 2.68% APY.
A thirty-six month CD rate is 3.03% APY.
A forty-eight month CD rate is 3.29% APY.
And a sixty month CD rate is 3.70% APY.
 
CD interest compounded and paid quarterly.  CD early withdrawal penalties are 90 day early withdrawal penalty on a CD less than one year and 6 month early withdrawal penalty on all other CD terms. 

Bank CD interest rates are subject to change.  Additional bank account conditions may apply.  For up to date bank CD rates and account information contact the bank directly at the toll free number in Adair, 800-448-8966 or toll free in Winterset at 877-462-5090.  Bank CD rates, account information and other disclosures can be found at the bank website, www.esbanks.com.

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