Business CDARS Certificates of Deposit
First Banking Center can invest up $50 million in CDARS, so you can invest in multiple CDs without having to deal with multiple banks to make it all happen.
Working with one bank means managing all your money is simple -- all your accounts are handled through FBC and you'll receive one consolidated statement.
Keep your company's investments simple while enjoying high returns and full FDIC insurance with CDARS.
- Summary
- CD-level returns
- One bank, one rate, one statement
- Completely confidential
- Terms from 4 weeks to 3 years
- $10,000 minimum initial deposit for most terms
- Penalty for early withdrawal
- FDIC insured
- How Does CDARS Work?
First Banking Center is a member of a special network. When you place a large amount with us, we place your funds into certificates of deposit issued by other banks in the network - in increments less than the FDIC limit - so that both your principal and interest are eligible for complete FDIC protection. With help from a sophisticated matching system, we exchange deposits with other banks that are members of the network.
These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank. As a result, we can make the full amount of your deposit available for community lending purposes.
Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement by First Banking Center. The agreement contains important information and conditions regarding the placement of funds by us. Please read the agreement carefully before signing it. CDARS is a registered service mark of Promontory Interfinancial Network, LLC.Account pricing/activity limits may vary in certain locations.
