Certificates of Deposit & IRAs

Certificate of Deposit (CDs) Fact Sheet (136KB PDF)

• Excellent and competitive interest rates for terms ranging from 30 days to five years
• Principal available for withdrawal at maturity²
• Opening balances from $1,000 and up
• Transfer the interest earned to your Business First checking or savings account automatically – monthly, quarterly or annually³

CDARS® - FDIC Insured  CD Accounts up to $30 million

CDARS® is the Certificate of Deposit Account Registry Service®. And it's the most convenient way to enjoy full FDIC insurance on deposits of up to $30 million. With CDARS, you sign one agreement, earn one interest rate, and receive one regular statement. It's that easy.

How CDARS Works
When you place a large deposit with Business First Bank we can use CDARS to place your funds into certificates of deposit issued by other banks in the network.  This occurs in increments of less than $100,000 to ensure that both principal and interest are eligible for full FDIC insurance at each bank.

Other network members do the same thing with their customers’ deposits. With the help of a sophisticated matching system, network members exchange funds so that the equivalent of your original deposit comes back to Business First Bank and effectively stays local (meaning the full amount can support lending initiatives that build a stronger local community).

Individual Retirement Accounts Options Fact Sheet (143KB PDF)

In addition to offering Certificates of Deposit instruments for use in Individual Retirement Accounts, we offer IRA savings accounts for balances of $100 or more.

IRA account and excess withdrawal fees apply.

Health Savings Account Options Fact Sheet (173KB PDF)

Healthcare is the number-one issue facing many individuals and families across the country. If you or your employees need a break from the high cost of healthcare, a Health Savings Account may be what’s needed! An HSA offers eligible individuals⁴ many benefits, including the option of keeping the money as a savings towards retirement.

Use your Business First Bank HSA just like any checking account for qualified medical expenses. Write checks or use your check card at your physician’s office, pharmacy, or anywhere else you make medical purchases or payments.

¹ Terms over one year are set up in monthly increments.
² Withdrawals must occur during the 10-day grace period at maturity; otherwise CDs will auto renew for a term and at interest rates in effect at time of maturity.
³ Transferring interest will reduce the compounded interest you earn on your CD, resulting in a lower annual percentage yield to you.
⁴ To qualify for an HSA, you must be 18 or over, and covered by a High-Deductible Health Plan (HDHP). You are ineligible for an HSA if you are covered by any health insurance plan other than an HDHP, have applied for Social Security benefits, receive Medicare benefits or are claimed as a dependent on another person’s tax return. There are no income limits to qualify for an HSA, and your contributions do not need to come from employment earnings. You can make deposits from personal savings, dividends, and unemployment or welfare benefits.