Tescott is just minutes from Salina and 95 miles north of Wichita.  It’s not very glamorous.  Not the the town of , rather the origin of its name.  The town was named after a man herding sheep.  In 1865, Thomas Eugene Scott came to Kansas while herding sheep across the Midwest.  In memory of Mr. T.E. Scott the town was named Tescott. 

The Bank of Tescott was established on January 1, 1887.  One of the signers of the Certificate of Incorporation for the bank was the man the town was named after, T. E. Scott. 

The bank is chartered as a Federal Reserve Non-member.  The bank has been FDIC insured since January 1, 1934.  The primary regulator is the Federal Deposit Insurance Corporation (FDIC).  Total assets of the bank were $186,268,000 as of September 30,2008.  At that time, non-current loans represented only 0.16% of total loans and leases, tier 1 risk-based capital ratio was 17.54% and the total risk-based capital ratio was 18.80%.  The first nine months of 2008, the bank had net income of $2,828,000.

The Bank of Tescott offers a wide assortment of services and products for the consumers in this region.  The bank offers a regular savings account and children’s savings account.  Both savings accounts provide a safe place for our customers to keep small or large amounts money while earning interest.  The bank offers a tiered money market account that allows its customers to deposit their money and use their funds on daily basis.  This is an interest bearing account with a $500.00 minimum balance and limited check writing availability.  The CDs offered by the bank have competitive yield with the safety of bank deposit insurance.

CD rates currently promoted include the following:

3 month CD interest rate 1.54%, APY 1.55%
6 month CD interest rate 2.39%, APY 2.40%
9 month CD interest rate 2.48%, APY 2.50%
12 month CD interest rate 2.04%, APY 2.05%
15 month CD interest rate 2.08%, APY 2.10%
18 month CD interest rate 2.09%, APY 2.10%
19 month CD interest rate 3.08%, APY3.10%
24 month CD interest rate 2.24%, APY 2.25%
36 month CD interest rate 2.53%, APY 2.55%
48 month CD interest rate 2.88%, APY 2.90%
60 month CD interest rate 2.98%, APY3.00%

There is a $1,000.00 minimum balance on all CD’s.  Bank CD rates are subject to change and additional conditions may apply to open these accounts.  The latest bank CD rates can be obtained by calling the bank at 785-283-4217.  Bank rate information is also available on the bank website which can be found at www.bankoftescott.com.

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