Harrow Bank Strategy
Deposit Offer WatchNo. 44 · October 2026
Deposit Offer Watch · Central Ohio and eastern IndianaData to 2 October 2026
Matching the top CD special would cost more than wholesale funding
Competitors trimmed their CD specials again, but the top 9 month offer still sits 30 basis points above your 13 month special. Matching it on open terms would pull mostly existing money
1Specials live in your footprint
We recorded 63 specials from 27 institutions with a branch or a stated market in your footprint, including two online banks that advertise directly to local zip codes. CD specials of 7 to 13 months remain the most common offer and the most aggressively priced.1
| Offer type | Offers | Median APY | Top APY | Change |
|---|---|---|---|---|
| CD, 7 to 13 months | 23 | 3.85% | 4.15% | Down 10 bp |
| CD, 14 to 24 months | 14 | 3.60% | 3.90% | Down 5 bp |
| Savings special | 9 | 3.40% | 3.85% | Unchanged |
| Money market tier | 17 | 3.25% | 3.75% | Up 5 bp |
| All specials | 63 | 3.55% | 4.15% | Down 5 bp |
Source: institution websites and rate disclosures, FDIC and NCUA call report data, Harrow Bank Strategy estimates
2New and changed offers
Five offers changed in ways that matter for your pricing. Three of them restrict the rate to new money, which lowers what each costs the offering bank and makes it harder for you to match on the same terms.
| Institution | Product | APY | Minimum | Condition |
|---|---|---|---|---|
| Regional bank, Columbus | 9 month CD | 4.15% | $10,000 | New money only |
| Credit union, Dayton | 13 month CD | 4.05% | $1,000 | Membership |
| National bank | 7 month CD | 3.90% | $25,000 | New money only |
| Online bank | Savings | 3.85% | None | None |
| Community bank, Richmond | Money market | 3.75% | $100,000 | New money only |
Source: institution websites and rate disclosures, captured 18 September to 2 October 2026
3Your special against the market and wholesale
Over the past six months the top competitor special and your own 13 month special have both come down by about 25 to 30 basis points. The 12 month advance rate fell by 35 basis points over the same period, which has narrowed the room for retail specials to compete with wholesale funding.
Source: institution websites, Federal Home Loan Bank advance rate sheets, client rate sheets
4What a match would cost
Your recent specials show how much of each new balance came from your own accounts rather than new customers. Savings specials moved the most existing money, and new money only CDs the least.2
Source: client deposit flows, Harrow Bank Strategy analysis
| Option | Rate | Moved from existing | Marginal cost |
|---|---|---|---|
| Hold 13 month special | 3.85% | 44% | 5.23% |
| Match 4.15% on open terms | 4.15% | 48% E | 6.04% |
| Match 4.15%, new money only | 4.15% | 20% | 4.66% |
| 12 month advance | 3.95% | None | 3.95% |
Source: client deposit flows, Federal Home Loan Bank advance rate sheets, Harrow Bank Strategy estimates
5Against our Deposit Survey
6What to watch before the next edition
Whether the Columbus regional bank extends its 9 month special past its 15 October end date, whether the Dayton credit union widens its CD offer beyond members, and the next move in advance rates ahead of your October ALCO meeting.
How this watch is built
- Every offer is captured from the institution's own site or rate disclosure and dated on the day we see it
- Marginal cost adds to the offered rate the extra interest paid on balances that move from existing accounts at a 2.10 percent average rate
- Shares moved from existing accounts come from your own account level flows, marked E where we estimate a rate you have not offered
Approved for subscribersDaniel WhitcombePartner, Balance Sheet Strategy · 6 October 2026
1 Your footprint is the 11 counties in central Ohio and eastern Indiana where you hold branches, as agreed at onboarding.
2 A balance counts as moved when the same customer reduced another deposit account at your bank within 30 days of opening the special.