Checking

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account_analysis_checking

As Federal regulations prohibit paying interest on corporation or partnership checking accounts, with Account Analysis Checking your average collected balance in the account during a statement cycle generates an “Earnings Credit”. The earnings credit can be used to offset the monthly activity charges. Earnings credit is computed on the average collected balance less 10% reserve requirement. The earnings credit rate is variable and indexed from the prior month’s Treasury Bill rates.

First Central State Bank checking accounts are designed for any business - no matter the size or complexity.

business_checking_comparison_chart

First Business
Checking

Commercial Business Checking

Commercial SuperNOW Checking

Designed For:

 

Small business with low balance
and minimal activity

Mid to large business with heavy account activity

Only available to sole-proprietors, non-profits, and government entities

Minimum Requirements

 

$500 daily collected balance or $2000 monthly average balance

$2500 daily collected balance or $5000 monthly average balance

 

$2500 daily collected balance

*waived for documented non-profits

Maintenance Fees

 

If balance falls below minimum requirement, then $8 monthly fee

If balance falls below minimum requirement, then $12 monthly fee

If balance falls below minimum requirement, then $8 monthly fee

*waived for documented non-profits

Per Item Fees

 

Monthly per debit item fees:

First 75 debits are free; then $.20 per item

Deposited items fee:

First 300 deposited items are free; then $.10 per item

Monthly per debit item fees:


First 150 debits are free; then $.20 per item


Deposited items fee:


First 1000 deposited items are free; then $.10 per item

Monthly per debit item fees:


First 75 debits are free; then $.20 per item


Deposited items fee:


First 300 deposited items are free; then $.10 per item

*waived for documented non-profits

Features

 

Monthly e-statement with check images

Basic online banking

$5 monthly fee for paper statement

Monthly e-statement with check images


Basic online banking


$5 monthly fee for paper statements

Interest paid on balances over $2500;


Monthly e-statement with check images;

Basic online banking

$5 monthly fee for paper statement

repurchase_investment_sweep_account
Our Investment Sweep Account is designed to provide a higher rate of interest on excess funds.
This account is a “repurchase agreement” which is not FDIC insured, but instead protected, or collateralized, by U.S. Government securities owned by First Central State Bank. Available balances in excess of the target balance are calculated each day and automatically invested. The target balance in checking is not interest bearing, but can be used to offset service fees.

Use of the Repurchase Investment Sweep Account will provide you the benefit of (1) allowing your commercial checking accounts to receive interest, which is not currently allowed under FDIC provisions (2) securing your account balances over $250,000 that do not qualify for the FDIC insurance by providing the collateralization program (3) having immediate access and full liquidity of invested balances for your operational cash flow needs.