BankVibe.com reader Alicia just forwarded us a very noteworthy 12 month CD she just locked in with First NBC Bank of New Orleans, Louisiana. We haven’t confirmed this rate with the bank and First NBC Bank does not disclose interest rates on their website, however, according to the email, First NBC Bank is offering 12 month CD’s with $1,000 minimum deposits and 1.77% APY’s.
If you’re like us then you probably find it hard to get excited about a 1 year CD yielding an interest rate below 2.0%, however, considering the fact that the national average for these products sits at just 0.95% APY, this deal doesn’t look so shabby in comparison. If you reside in Lousiana, you may want to compare this offer with other Louisiana CD rates from our archives.
First NBC Bank received it’s charter just a few years ago in 2006 wit overwhelming community support in the region. This helped them to raise nearly $60 million in funding which they claim makes their bank the most well capitalized start-up financial institution ever to commence operations under a Louisiana charter.
First NBC Bank has grown fairly quickly in it’s relatively short life. As of 2012, they are the 4th largest banking institution in Louisiana by asset size and just barely within the top 300 banking institutions in the United States. Today, they have over 400 employees and over 30 branch locations. They also control nearly $2 billion in consumer deposits and service roughly $1.75 billion in loans.
First NBC Bank has a “B” rating on the BBB despite having just one registered complaint since their inception. The complaint has since been resolved but stemmed from billing and collection issues.
Their main office is in New Orleans but they also have branches in Elmwood, Lakeview, Terrytown, Kenner and Degaulle, Louisiana. This offer is only available in Louisiana. You can contact them at FirstNBCBank.com for further details on rates.