TREASURY SERVICES
This innovative system allows you to make deposits from your office eliminating a “run” to the bank. This virtual teller enables you to scan your checks via a secure web site to be processed immediately making most funds available that night.
How It Works
Simply scan your checks on a check scanner provided by The First State Bank, then click submit and your check images are submitted to the bank for processing and verification that day.
Benefits
• Reduces trips to the bank and fees associated with transportation
• Secure and easy to use
• Faster funds availability
• Check images available at your fingertips with useful reporting for bookkeeping
The First State Banks eCorp, an Internet-based cash management system, is a powerful tool for helping your company manage its assets quickly and effectively. Some of the services available are outlined below.
Account Inquiry allows customers to obtain the previous day's account information and view paid checks. Certain current day information is also available, such as controlled disbursement clearings and cash concentration details. Information may be obtained on checking accounts, loans and time deposits.
Account Transfers along with loan payments may be done "one time" or scheduled to be recurring.
Automated Clearing House (ACH) batch capabilities will help your company save time and money by initiating small volume payments including payroll.
Stop Payment on outstanding items may be requested via eCorp on either one check or a series of checks.
Wire Transfers allow you to move funds quickly to a non-First State Bank account. Wires may be either domestic or international, both repetitive and non-repetitive.
The First State Bank offers merchant service processing. Let us help you in handling all elements of both credit and debit card transaction processing, offering a host of services to fit your unique needs.
• VISA
• MasterCard
• American Express
• Diner's Club
• Discover
• JCB
Benefits
• Simplified paperwork for quick approval
• Easy to read processing statements
• Help desk available 24 hours a day, 365 days a year
• Full disclosure pricing strategies
• Local relationship manager & in person live support
SWEEP ACCOUNTS
Repurchase sweep accounts (REPOS) are a sale of marketable securities from the bank to you, wherein the bank agrees to buy back the securities the next day at the same price plus interest.
How It Works
Your master account will have a set target balance and the excess funds from that account will be swept into our overnight repurchase sweep account for a short term investment. If monies fall below the target balance the funds will be swept back into the Master account to replenish the target balance. You will receive a daily confirmation on your repo investments.
Benefits
• Provides safe and secure investment of funds
• Maximize profits while eliminating the need to monitor cash position and investment decisions
• The status of your repo is available on a daily basis
The First State Bank’s Loan Sweep product is designed to assist corporate borrowing customers in maximizing the use of their funds. The Loan Sweep system advances or pays down on a line of credit according to the target balance set by you and your loan officer.
How It Works
If your checking account has funds in excess of the target balance, and an outstanding balance on the line of credit, the system automatically debits the checking account and pays on the line. If the account balance falls below the target balance and the line of credit is not fully borrowed against then the system will advance funds from the line and credit the checking account.
Benefits
• Eliminates the need to manually advance or pay down on your line of credit
• Minimizes interest expense
• Allowing the maximum use of your funds, improving your profitability
Zero Balance Account (ZBA) eliminates the need to manually transfer funds for your company’s collection or disbursement accounts allowing efficient usage of your excess funds by concentrating them into one account.
How It Works
ZBA consolidates balances from multiple sub-accounts into a single master account. This enables your business to segregate the collection or disbursement of cash.
After deposits and checks present for the day, an automatic transfer will initiate from the elected master account sweeping funds to or from the ZBA accounts to restore all sub-accounts to a zero balance.
Benefits
• Eliminates manual internal transfers
• Reduces idle cash in various accounts
• Maximum control over balances and funding
• Link unlimited sub-accounts to the zero balance master account