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Certificates of Deposit (CDs)

  • Fixed rate of return; higher than checking and savings 
  • Rate determined by term (see rate sheet)
  • Wide range of terms available (from 90 days to 36 months)
  • Set aside for future savings goals 
  • No setup or maintenance fees
  • $1,000 minimum deposit to open
  • Funds deposited into a CD can be withdrawn at any time, however withdrawals made before maturity are subject to a penalty
  • At maturity, there is a 10-day grace period during which funds can be taken out or added without penalty

Panhandle First Bank complies with section 326 of the USA PATRIOT Act. Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account such as name, address, date of birth and taxpayer identification. 

FDIC Insurance

FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC was established in 1933, no depositor has lost one penny of FDIC-insured accounts. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. The FDIC manages the Deposit Insurance Fund to insure the deposits, protect the depositors of insured banks, and to resolve failed banks. The FDIC also fosters communication and coordination among other countries’ deposit insurance systems.
Looking for a way to keep large deposits safe? With CDARS® you can access FDIC protection on multi-million dollar CD investments through Panhandle First Bank.

  • Safety -Your money can access multi-million dollar FDIC insurance coverage.
  • Convenience - You work directly with us. You earn one interest rate and receive one regular statement, and one year-end tax form.
  • Community Investment - The full value of your money can support lending opportunities in your local community.2
  • CD-Level Rates - Your money earns CD-level returns which may compare favorably with other investment alternatives, including Treasuries, corporate sweep accounts, and money market funds.
It is a great solution for: * individuals * businesses * nonprofit organizations * public unions * IRAs

How does CDARS work?
We are a member of a special network. When you place a large amount with us, we place your funds into CDs issued by other banks in the same network - in increments of less than $250,000 - so that both principal and interest are eligible for complete FDIC protection. As a result, you can receive coverage from many banks while working with just one.

These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank. As a result, we can make the full amount of your deposit available for community lending purposes.

What else should I know?
Now, you no longer have to spend time managing multiple bank relationships, administering various interest rates, organizing interest disbursements from various sources, or manually consolidating monthly statements. This reduces your administrative burden, especially during tax and financial reporting seasons.

And with CDARS, you can eliminate the need to monitor changing collateral values - another time saving convenience.

Of course, your confidential account information remains protected.

- Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with Panhandle First Bank. The agreement contains important information and conditions regarding the placement of funds by us.
2 - This benefit applies to some, but not all types of CDARS transactions. Let us know if this benefit is important to you, so that we can explain the relevant terms and conditions in more detail.

CDARS is a registered service mark of Promontory Interfinancial Network, LLC.