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ENTERPRISING CD OFFERS FLEXIBLE MATURITY; OPENING RATE IS 7.60 PERCENT

ENTERPRISING CD OFFERS FLEXIBLE MATURITY; OPENING RATE IS 7.60 PERCENT
 PALM BEACH GARDENS, Fla., March 17 /PRNewswire/ -- Enterprise National Bank of Palm Beach has introduced a certificate of deposit that will pay a higher yield while maintaining Federal Deposit Insurance.
 The new "Enterprising CD" includes a redemption option, which may be exercised by the bank at any time after 12 months.
 "This certificate will appeal to investors who want to raise their current income for at least one year and as long as five years," said Jeffrey L. Hill, president and chief executive officer of Enterprise National Bank of Palm Beach.
 The current yield for the Enterprising CD is 7.60 percent for five-year certificates with a minimum investment of $25,000. Rate will be adjusted weekly for new CDs. The current rate is significantly above the rate of 5.82 percent for the Palm Beach-Martin counties bank average, and the national index of 6.00 percent, as complied by Bank Rate Monitor.
 The Enterprising CD will be available for a limited time, and terms for new CDs are subject to change by Enterprise National Bank of Palm Beach.
 "This is an excellent opportunity for investors to lock into higher rates of interest with the added safety of federally insured deposit instruments," Hill said.
 The bank hopes to attract additional new deposits, which would be used for lending to individuals and businesses within the bank's primary service area of northern Palm Beach County.
 Any redemption by Enterprise requires a 30-day written notice to the customer. A withdrawal by the certificate owner, prior to either maturity or receipt of a notice to redeem, would result in the normal penalties for early withdrawal.
 Enterprise National Bank of Palm Beach had assets of $32.9 million and equity capital of $7.5 million as of Dec. 30, 1991. The bank, which was formed in April 1990, maintains the highest capital-to-assets ratio of any bank headquartered in Palm Beach County.
 -0- 3/17/92
 /CONTACT: Robert Kneeley of Robert Kneeley & Co., 305-493-8220, for Enterprise National Bank of Palm Beach/ CO: Enterprise National Bank of Palm Beach ST: Florida IN: FIN SU: PDT


AW-JJ -- FL009 -- 8748 03/17/92 11:25 EST
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Publication:PR Newswire
Date:Mar 17, 1992
Words:368
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