Cash ManagementSweep Accounts

Sweep Product Suite - Let Us Make Your Money Work For You

With First National Bank's sweep products, we make your money work for you no matter what your needs are. Whether your business tends to have excess cash, borrowing needs, or both, we have a solution you can count on. All you do is decide which of our three sweep products works best, set the target dollar amount in your deposit account and we will do the rest - automatically!

FirstSweep

When you utilize First National Bank's FirstSweep account we'll invest any excess money from your deposit account in U.S. Treasury Repurchase Agreements^* (Repos) or Commercial Paper^† each business day. If your deposit account is below the target, we will automatically deposit funds from the transaction account back into your deposit account.**

Goldman Sachs Sweep

Intended for companies seeking a higher rate of return, the Goldman Sachs Sweep account invests any excess money from your deposit account into Goldman Sachs mutual funds each business day. If your deposit account is below the target, we will automatically deposit funds from the transaction account back into your deposit account.

360 Sweep

Designed with flexibility in mind, the 360 Sweep manages your money between your deposit account, revolving line of credit, and FirstSweep investment account to allow you to maximize your money daily. When your deposit balance exceeds the target amount, the excess money is first used to pay down outstanding loan balances on your revolving line of credit. If your deposit account is still above your target amount the remaining funds are moved into the FirstSweep account.

In the event that your deposit account drops below the target amount, funds will be drawn first from the FirstSweep account and next from your line of credit in order to bring the deposit balance back to your target amount.

* A Repurchase Agreement, or Repo, is an ownership interest in certain federal securities which First National Bank will repurchase from you on the next business day for a fixed amount. Your repo is backed by collateral that consists of securities issued by or guaranteed by the US government or government-sponsored enterprises. The market value or the security will be equivalent to the dollar amount of your investment. Repurchase Agreements are not deposits of the bank and are not insured by the federal government or the Federal Deposit Insurance Corporation. In the event that the bank was unable to pay the repurchase agreement on its due date, you would be a secured creditor of the bank. If the value of the collateral should fall below the total amount due on repurchase agreements, you would be a general unsecured creditor of the bank as to your portion of this difference.

^†Commercial paper is issued by First National Credit Card Corporation (FNCCC) and is utilized to fund the credit card loans of Infibank, a member of the First National of Nebraska, Inc (FNNI) company. Commercial paper is a short-term, unsecured promissory note used by corporations and finance companies to raise short-term working capital. Commercial paper is issued by FNCCC and is utilized to fund First National Bank’s credit card loans. It is rated A1 by Standard & Poor and P1 by Moody. The commercial paper is not an obligation of First National Bank or any other bank and is not insured by the Federal Deposit Insurance Corporation.

** If the amount of the deficit in your transaction account exceeds the balance of the FirstSweep and/or Line of Credit (LOC), a legitimate overdraft will occur and your account will be subject to standard overdraft policies and fees.