5% APY on 3 month CD at Hancock Whitney

Just to be clear it’s 5% annualized. So 1.25% on the 3 month term.

But yes solid rates all around CD & money market land.

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CD with 5% return isn’t too bad

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Been laddering CDs 3-6-9 for several months. Still not keeping up with true inflation but it’s not terrible either.

They needed to change their image Gaucho. It used to be called Hancock Whitey

Ask yourself why they’re willing to pay over market deposit rates…..

I have a money market savings with them getting 2.96% at the moment

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They want deposits, and that “market rate” is behind brokered CDs.

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Not really. they could get plenty of $$ in 90 day CD’s for 0.25-0.50% less. They’ve overpaying. Not a smart move for the balance sheet.

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Ask yourself why they’re willing to pay over market deposit rates…..

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Because they have loan demand and their loan to deposit ratio is too high? If banks have to borrow right now from the Federal Home Loan Bank they’re borrowing at 4.75%.

Even thought these CD’s are hot money, some of them may stick after the first three months.

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Not really. they could get plenty of $$ in 90 day CD’s for 0.25-0.50% less. They’ve overpaying. Not a smart move for the balance sheet.

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They couldn’t get a dime of new money.

Did you already max out your I-Bond allocation?

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I have a money market savings with them getting 2.96% at the moment

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I have a savings account with them. I moved some money into an american express savings account. They promptly changed the type of savings account that I had and its now unavailable to move money out of that account online or on the app. Im about to close all my accounts with hancock whitney.