First National Bank (FNB) is currently offering a 13-month CD Special (1.75% APY). The minimum required deposit is $5k of new money, with a balance cap of $500k. The special rate requires either an existing or new personal checking account.
|1.75%||$5k||-||First National Bank of Pennsylvania||13 Month CD Special|
|1.75%||$5k||-||First National Bank of Pennsylvania||13 Month IRA Special|
The CD Special is also available as an IRA (Traditional), earning the same APY with the funding and checking relationship requirements.
According to CSR, the Early Withdrawal Penalty is "$25, plus 3% of amount withdrawn."
FNB describes the Freestyle, Mystyle, Lifestyle, and Premierstyle checking accounts as “from no-frills to bells-and-whistles.” Of the four accounts, the Freestyle is probably the easiest account to maintain, as it has no monthly service fee, as long as eStatements are received, and no minimum balance requirement. FNB’s Compare Checking Accounts page shows a side-by-side comparison chart to better describe the difference between the various checking accounts. Unfortunately, the $150 bonus for opening a new FNB checking account that was announced in July has expired.
FirstRate Money Market Special
FNB is also offering a promotional rate of 1.35% APY on its FirstRate Money Market through November 30, 2017. A minimum deposit of $25k of new money in either a new or existing FirstRate Money Market account is required to qualify for the promo rate. Like the 13-month CD Special, a checking relationship is required. Since the rate is only guaranteed for about three months, I don’t really consider this a great deal, but definitely worth mentioning.
Headquartered in Greenville, Pennsylvania, First National Bank of Pennsylvania’s market area is comprised of Maryland, North Carolina, Ohio, Pennsylvania, South Carolina, and West Virginia, including three major metropolitan areas (Pittsburgh, Baltimore, and Cleveland).
With the recent acquisition of Yadkin Bank (NC), FNB has established a presence from the Outer Banks to the Cherokee National Forest.
Opening a 13-month CD Special can be done online, using promo code CD155, or at any of 423 branches located in Maryland (33), North Carolina (97), Ohio (31), Pennsylvania (257), South Carolina (3), and West Virginia (2).
First National Bank has an overall health grade of "A+" rating at EpBooks.us, with a Texas Ratio of 4.27% (excellent) based on March 31, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $5.33 billion, an excellent annual growth rate of 35.04%. Please refer to our financial overview of First National Bank (FDIC Certificate # 7888) for more details.
Established in 1864, First National Bank of Pennsylvania was known as the First National Bank of Mercer County (western Pennsylvania, bordering on Ohio) for its first 128 years. Starting with a change to its present-day name in 1992, the Bank began 25 years of expansion that included the acquisitions of 19 banks in Maryland, North Carolina, Pennsylvania, and Ohio. Today, First National Bank of Pennsylvania is the largest bank headquartered in Pennsylvania and 52nd largest bank in the country, with assets in excess of $30 billion and more than 1.13 million customer accounts.
How the CD Special Compares
When compared to the similar length-of-term CDs tracked by EpBooks.us, which require a similar minimum deposit and are available within the Bank’s market area, First National Bank’s 13-month CD Special APY currently ranks first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|1.75% APY||13-Month CD Special||First National Bank|
|1.60% APY||1-Year Yield Pledge CD||EverBank|
|1.56% APY||12-Months Online Promo CD||M.Y. Safra Bank|
The above rates are accurate as of 9/5/2017.