Premier American Bank, N.A. has some competitive cd rates. The best cd rates are offered for their 12-month certificate of deposit at 2.00% APY while the 18-month cd promo earns 2.15% APY. You must deposit at least $10,000 to enjoy these top cd rates. They are also available as IRA for at least $5,000. Below is a list of the highest cd rates offered for their special money in the bank deals:

6 months 1.50% APY
9 months 1.75% APY
12 months 2.00% APY
18 months 2.15% APY
24 months 2.25% APY

Interested consumers need to drop by a local branch to open an account. Premier American has offices spread across Florida particularly in Miami, Hialeah Gardens, and Surfside.

You don’t have to worry about the bank failure back in January. FDIC entered into an agreement with Premier American as a newly chartered organization to assume the deposits of the bank. Premier American operates under the umbrella of Bond Street Holdings based in Naples, Florida.

The new owners are very quiet about the takeover. You can not really find a lot about it over the internet. At least we know that the bank is a much better shape now financially.

Every time a new owner takes over a bank, it will be a wise move for consumers to see any rate changes that might take effect. It is common though to see competitive interest rates after a take over so they can retain their client base.

The new bank is now insured with the FDIC with certificate number 58991.