Bank's CD Policy is punitive for loyal customers

I have banked at Simmons Bank for several years. Their front end employees have always been courteous and helpful. However, the bank's policies are far from rewarding loyalty...the exact opposite...the policies punish loyal customers. CD renewals...they automatically renew a CD much lower than current CD rates. When rates were being offered mid 4's at other financial institutions...Simmons renewed mine at 2.5%. When I asked them to make the change to at least 4% which was lower than other institutions were offering, they only would raise to 3.5%. I was willing to take less just to keep it there. An employee on a customer service call stated that Simmons wants new money...they will not honor the same interest rate for established customers. That policy makes it hard for a customer who is wanting to maintain most of their business with one bank. And, if money moves out of Simmons, due to this policy...their punitive policy really doesn't make sense for keeping customers long term.