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Our Lobbies are by Appointment Only. Please refer to our Locations page for the hours for each branch. 
Smart Investing <span>Access to Multi-Million-Dollar FDIC Insurance</span>

Smart Investing Access to Multi-Million-Dollar FDIC Insurance

ICS® and CDARS®

The Insured Cash Sweep®, or ICS, and CDARS services are smart, secure, and convenient ways to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility.

 

What is CDARS?

CDARS is one of the safest and smartest tools for investors looking to protect deposits that exceed the standard FDIC insurance maximum of $250,000 while earning CD-level returns that may compare favorably to Treasury and money market mutual funds.

CDs placed through CDARS offer investors, including institutional investors, such as corporations, public funds, foundations, and endowments:

- Access to multi-million-dollar FDIC insurance;

- The ease of working through one trusted relationship, earning one rate per maturity, and receiving consolidated statements;

- The ability to forego ongoing collateral tracking;

- The power of daily compounding; and

- A finite maturity date (in contrast to auction-rate or some adjustable-rate securities).

Investing through CDARS can be a strong alternative to Treasuries and government money market mutual funds. Like Treasuries and government-backed money funds, FDIC insurance is backed by the full faith and credit of the U.S. government.

Learn More About CDARS

Placement of funds through the CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before CDARS settlement for a deposit or after CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of CDARS satisfies those restrictions.

CDARS is a registered service mark of Promontory Interfinancial Network, LLC.

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What is ICS?

ICS®, the Insured Cash Sweep® service, is a smart, convenient way for bank customers to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility.

With the ICS service, you can:
 

Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.

Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option or into money market deposit accounts using the ICS savings option.

Save time. Work directly with just our bank—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement from us summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.  

Access funds. Make unlimited withdrawals using the ICS demand option or up to six program withdrawals per month using the ICS savings option. Funds can be placed using either or both ICS options to best match your cash management and liquidity needs.
 

Bank Safe, Bank Smart®.
 

Learn More About ICS!

Placement of funds through the ICS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits and customer eligibility criteria apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS settlement for a deposit or after ICS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS satisfies those restrictions. ICS; Insured Cash Sweep; and Bank Safe, Bank Smart are registered service marks of Promontory Interfinancial Network, LLC.

 

Rest assured.

Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.

Save time.

Work directly with just our bank—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement per service from us summarizing your account activity and balances. And, if you are accustomed to collateralization, eliminate the need to track collateral on an ongoing basis.

Support your community.

Feel good knowing that the full amount of your funds placed through ICS and/or CDARS can stay local to support lending opportunities that build a stronger community.1

Earn interest.

Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option, money market deposit accounts using the ICS savings option, or interest-bearing certificates of deposit (CDs) using CDARS. Earn one interest rate for each ICS option, and one rate for each CD maturity with CDARS.

Access funds.

Make unlimited withdrawals using the ICS demand option or up to six program withdrawals per month using the ICS savings option. With CDARS, select from a range of maturities (4 weeks, 13 weeks, 26 weeks, 52 weeks, 2 years, 3 years, and 5 years).

[1] When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the ICS or CDARS Network, the relationship institution can use the full amount of a deposit placed through ICS or CDARS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositors’ consent, and if authorized under state law, a bank may choose to receive fee income instead of deposits from the banks. Under these circumstances, deposited funds would not be available for local lending.

Placement of funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS or CDARS settlement for a deposit or after ICS or CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS or CDARS satisfies those restrictions. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network, LLC.

Questions?

To learn more about ICS and CDARS fill out the form below!

 

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