From the Pittsburgh Post-Gazette:
First National Bank of Pennsylvania is offering special premium rates on CDs to people leasing land to gas drillers.
Called Gas Lease certificates, customers must open the CDs with a check issued by a gas drilling company or present a gas lease agreement. They also must agree to meet with a private banking or wealth management representative to discuss investment options with the bank.
The yields are slightly higher than normal CDs.
FNB's 90-day gas lease certificate currently pays 0.4 percent and requires a $100,000 minimum deposit. The 12-month version pays 0.55 percent with a $10,000 minimum.
That compares with FNB's regular six-month CD that pays 0.1 percent and 12-month certificate that pays 0.2 percent. Both require a $500 minimum deposit.
The bank has had "modest success" since the program kicked off in early 2011, said spokeswoman Kathy Hammons.
FNB's offer isn't unique, officials said.