Business Savings Accounts

Business Savings

Build a cash cushion to withstand the inevitable ups and downs. Get started with just $300.

Key Features

Competitive Interest

Digital Banking

Details

Competitive rates
- Interest credited quarterly on the daily collected balance, based on 365 days per year, compounded daily
$300 minimum deposit to open¹
Avoid $3 quarterly service fee by maintaining $300 average ledger balance

Free digital banking services, including:
- Free online banking
- Free mobile banking
- Free quarterly eStatements
Free telephone banking

¹A $50 fee will be charged if the account is closed within 90 days.

Business First Class Money Market

Want more accessibility from your savings? Get direct check writing with an interest-bearing money market.

Key Features

Competitive Interest

Digital Banking

Details

Tiered rate structure
Ability to earn higher rate with larger balances
Avoid $10 monthly service charge by maintaining $1,000 average balance
Enjoy the enhanced savings potential with the flexibility of quick access to your funds
$2,500 minimum deposit to open¹

Free digital banking services, including:
- Free online banking
- Free mobile banking
- Free quarterly eStatements
- Free telephone banking

¹A $50 fee will be charged if the account is closed within 90 days.

Business Certificates of Deposit (CDs)

Improve your earnings without risking any of your company's cash assets. Simply pick a term.

Key Features

Guaranteed Returns

Competitive Interest

No Setup or Maintenance Fee

Details

Higher returns than savings accounts
Provides more guarantee than other risky investments
Fixed rates for length of term
Terms range from 3 months to 8 years
No setup or maintenance fees

Renews automatically upon maturity after a 10 day grace period
Early withdrawal penalties apply¹
Minimum deposit to open depends on the selected term

¹Early withdrawal will result in the following penalties:

32 day term through 1 year has a penalty of 6 months interest
Over 1 year term through 8 years has a penalty of 12 months interest

IntraFi® Network Deposits – Business CDARS®

FDIC insurance doesn't have to stop at $250,000. IntraFi® Network Deposits- CDARS®- offers FDIC insurance on CDs up to $50 million.

Details

Interest above standard savings, which may compare favorably with other investment alternatives
Greater security; multi-million dollar FDIC insurance coverage
Convenience; everything is managed internally by First State Bank:
- One interest rate
- One regular statement
- One year-end tax form

Flexible maturity periods available
Helps support lending opportunities within your local community
Full FDIC coverage on amounts up to $50 million

Learn More
To learn more about how IntraFi® Network Deposits, CDARS, can benefit you, visit the IntraFi® Network website.

IntraFi® Nework Deposits – Insured Cash Sweep®

No need to bank at multiple institutions. Get peace of mind with access to FDIC insurance of up to $50 million.

Details

Enjoy increased coverage while also benefiting from increased access to funds and higher returns than other savings options
Interest above standard savings, which may compare favorably with other investment alternatives
Deposits are sent to other ICS® network banks in amounts less than $250,000
Convenience; everything is managed internally by First State Bank:
- One interest rate
- One regular statement
- One year-end tax form

Less administrative burden than other collateralized deposits
Two convenient options:
- IntraFi® Network Deposits, Insured Cash Sweep® Savings (ICSS) – includes 6 program withdrawals per month and deposits funds to money market deposit accounts
- IntraFi® Network Deposits, Insured Cash Sweep® Demands (ICSD) – Includes unlimited program withdrawals and deposits funds to demand deposit accounts
Full FDIC coverage on amounts up to $50 million

Learn More

To learn more about how an IntraFi® Network Deposits, Insured Cash Sweep® can benefit you, visit the IntraFi® Network website.

How it works

Choose from either the ICSS® or ICSD® options or choose both
Sign the agreements, use an existing checking or other transaction account (or set one up), and deposit your funds
If you choose both the savings and demand options, you will need to have a separate transaction account for each

Deposits are sent to other ICS® network banks in amounts less than $250,000.00¹
Each individual deposit receives interest, plus full FDIC backing
As a result, you access FDIC insurance coverage from many institutions while working directly with only your bank

¹Deposits are sent to demand deposit accounts with the demand option and to money market deposit accounts with the savings option. The standard FDIC insurance maximum is $250,000 per insured capacity, per bank.

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