Central Bank Rates & Review

Central Bank Review

Central Bank is a minority-owned bank in Tampa, Florida, that offers banking products and services for individuals and businesses.

Central Bank is a local community bank based in Tampa, Florida. The company focuses on supporting the Tampa Bay community by working with local businesses and supporting local charitable efforts. It is a minority-owned bank that has the distinction of being the only bank in the Tampa Bay area that is named a minority depository institution by the FDIC. It grew 25% in the first quarter of 2009, a recession period during which many other banks experienced a decline in growth.

Banking products

Central Bank offers free checking account and free savings account options for customers. The bank offers both individual and business accounts. For under-18 customers, there's the Kid Central savings account, a no-fee, no-minimum savings account. In addition to regular savings accounts, the bank offers a premium money market account for both individual and business customers.

Personal banking customers also have the option of opening a CD or an IRA. These accounts are available for periods of time as little as one month or as long as five years. Deposits with this bank are FDIC-insured to the maximum amount of $250,000 per account.

Banking services

Central Bank offers a number of services to its customers. Loans are a primary service with a special focus on small business loans for local community businesses. Other loans available at this bank include special low-rate mortgages, home equity loans and lines of credit, commercial loans and commercial real estate loans. Other services at Central Bank include wire transfers, online banking, safe deposit boxes, debit cards and credit cards.