We would like to remind our members that TowneBank will be closed on Monday, May 28th, in observance of Memorial Day. Thank you for choosing TowneBank!

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TowneBank Commercial Banker

As your financial partner, your success is our success.

Brad Hunter,
Commercial Banking

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Certificates of Deposits offer a way for businesses to earn higher interest rates on funds that may not be needed for a period of time.  CDs are available for any kind of business whether you’re a sole proprietorship, limited liability company (LLC), or corporation. We offer competitive rates with hometown service.
Standard CDs
  • $1,000 minimum opening balance
  • Terms from 7 days to 5 years
12-month Add-On CD
  • Only $100 minimum opening balance
  • Additional deposits may be made with $50 or greater
Jumbo CDs

  • Available for $250,000 or more
Business entities1 that access FDIC insurance through a single bank relationship benefit from CDARs. With CDARs large deposits can be dispersed into smaller amounts across a network of banks. Then, those banks issue CDs in amounts under the standard FDIC insurance maximum, so your investment is eligible for protection.


  • One Bank - conveniently manage large CD deposits through one bank
  • One Rate - no need to worry about multiple rate negotiations or consolidating multiple disbursement checks
  • One Statement - receive one regular account statement listing all of your CDs, along with their issuing banks, maturity dates, interest earned and other details.
Other benefits include:


  • Satisfy your requirements for insured deposits and avoid having uninsured deposits to footnote in financial statements2 
  • Earn returns that may compare favorably with those of Treasuries and other high-quality investments3
  • Eliminate the need to track changing collateral values on an ongoing basis (public fund clients with collateralized deposits only).

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Early withdrawal penalties may apply.

1If you are subject to restrictions with respect to the placement of funds in depository institutions, it is your responsibility to determine whether the placement of your funds through CDARs, or a particular CDARS transaction, satisfies those restrictions.
2Consult with your auditor to determine how CDs should be reported
3Consult with your account manager or one of our bankers regarding available rates.