Midwest Bank has a short term CD rate promotion that popped up in the December 21, 2008 Sunday Chicago Tribune.  The banks promotion includes a CD with a term of 91 days that earns an interest rate of 3.10%.  There is a $10,000 minimum balance to open the account and earn the APY.  Interest is credited to the account at maturity.  The APY on all certificates of deposit with the bank assumes the interest will remain on deposit until maturity.  The daily balance method is used to calculate the interest on the certificate of deposit account.

Midwest Banc Holdings, Inc. is a community-based bank holding company.  Midwest Bank serves the five-county Chicagoland area.  The Company’s principal operating subsidiaries are: Midwest Bank and Trust Company, Midwest Financial and Investment Services, Inc., and Midwest Bank Insurance Services.  The company provides a wide range of services, including traditional banking services, personal and corporate trust services, residential mortgage services, insurance brokerage and retail securities brokerage services throughout the greater Chicago metropolitan area. Midwest Bank has 29 bank branches.

Along with the 91 day CD, Midwest Bank offers traditional certificates of deposit,  non-traditional certificates of deposit including a 9 Month piggy bank CD,12 month no penalty with checking, 18 month step up CD, 24 month and 36 month FlexRate CD as well as personal money market accounts,  personal interest bearing checking accounts and personal savings accounts. 

Midwest Bank products and services offer a variety of home loans and consumer loans to match the banks savings products.  Mortgage products include: conventional fixed-rate mortgages, adjustable-rate loans, first-time homebuyer programs, construction loans, two- to four-family home and condo loans, FHA loans, refinancing solutions, jumbo loans, lot loans and bridge loans.  Midwest Bank offers home equity lines of credit and home equity term loans with varying maturities.  Midwest Bank makes personal loans for a range of purpose.  The interest rates on these bank loans are competitive.  The personal loans include: fixed-rate vehicle loans for purchasing or refinancing an automobile, boat or motor home.  Unsecured consumer loans with a fixed-rate loan that requires no collateral.  Lines of credit and overdraft protection to provide bank customers with a financing program tied to their checking account to cover negative balances and avoid overdrafts.  Fixed rate loan products that are tied to Midwest Bank savings account or CDs.  Fixed and variable rate loan product associated with investment portfolios.

Interest rates are subject to and certain conditions may apply.  Midwest bank can be reached by phone at 877-823-5664.  The bank covers many of its saving, checking account and loan products on their website which can be found at www.midwestbank.com.

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