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Get much-needed security and convenience for large-deposit investments with CDARS® or ICS®.

  • Full FDIC insurance on deposits up to $50 million
  • All CD investments managed through a single relationship
  • Excellent personal service
  • Flexible maturity periods available
  • Interest paid directly to you or an account you designate
  • A single monthly statement with detailed listing
  • Annual tax summary is consolidated in one report
  • Effortless solution to save time and money managing accounts
  • 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
  • Greater security; multi-million dollar FDIC insurance coverage
  • Convenience; everything is managed internally by The First State Bank
  • One interest rate
  • One regular statement
  • One year-end tax form
  • Less administrative burden than other collateralized deposits and repo sweep options
  • Two convenient options:
    • Insured Cash Sweep Savings (ICSS) – includes 6 program withdrawals per month and deposits funds to money market deposit accounts
    • 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

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
  • $200,000 remains in a transaction account at your bank, the rest are sent to other ICS network banks in amounts less than $250,000*
  • 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

*Deposits 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.