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

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 flexibility with enhanced access to funds including direct check writing
  • $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 – Formerly known as Business CDARS®

FDIC insurance doesn't have to stop at $250,000. IntraFi® Network Deposits- Formerly 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, formerly CDARS, can benefit you, visit the IntraFi® Network website.

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

IntraFi® Nework Deposits – Formerly known as 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, formerly Insured Cash Sweep® Savings (ICSS) – includes 6 program withdrawals per month and deposits funds to money market deposit accounts
    • IntraFi® Network Deposits, formerly 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, formerly 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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