Insured Cash Sweep (ICS)

With IntraFi Cash Services (ICS)*, you can benefit from the safety and simplicity that comes with access to multi-million-dollar FDIC insurance for deposits over $250,000 through a single bank relationship.

How does ICS work?

FNBO, like other institutions that offer ICS, are members of the IntraFi network. When we place your deposit through ICS, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The amounts are then placed into deposit accounts at multiple FDIC-insured banks. As a result, you can access FDIC coverage from many institutions while working directly just with us. Receive one statement from our bank and access key details about your accounts online, 24/7.

Certificate of Deposit Account Registry Service (CDARS)

By leveraging CDARS®, you can access multi-million-dollar FDIC insurance on Certificates of Deposits (CDs) over $250,000.

How does CDARS® work?

Institutions that offer CDARS® are members of the IntraFi network. When a member institution places your deposit through CDARS®, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The funds are then placed into deposit accounts at other network banks. As a result, you can access FDIC coverage from many institutions while working directly with just ours. Receive one statement from our bank detailing all your CDARS placements.

Why choose FNBO?

FNBO is the great big, small bank...
We demonstrate an Uncommon Understanding of our customers by delivering personalized and digitally intelligent experiences for their business. We celebrate longstanding relationships with our clients and through it all, we honor and recognize the value of the handshake in everything we do.

 

165+ Years

With over 165 years of banking with integrity, you can trust the stability and reputation of our strong capital position. 

Independently Owned

By remaining fiercely independent and family-owned, we make decisions based on what's best for our customer. Always. 

Customer First

We are committed to the success of customer and treat your business like our own.

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FAQs

Insured Cash Sweeps (ICS) help protect company funds by breaking up cash deposits that surpass the standard FDIC coverage limits. Excess money is swept into FDIC-insured accounts at multiple financial institutions.

Although money is swept into other FDIC insured financial institutions, you only need to maintain a single banking relationship with FNBO to manage all your funds. You can view your funds in a single dashboard.

The FDIC insures up to $250,000 of a customer’s deposit accounts in a given insurable capacity at an FDIC-insured depository institution. FNBO is a member of the IntraFi network and uses IntraFi's services to place funds at other member financial institutions. When your funds are placed through the services, they are divided into amounts under the standard FDIC maximum and placed with other network members—each an FDIC-insured institution. This makes your deposit eligible for FDIC insurance at each member bank. By working directly with FNBO, you can access insurance through many other banks and financial institutions.

Yes.  Your confidential information remains protected; your relationship remains between you and FNBO.

When a network member has failed, the deposits placed using IntraFi's services are moved to another member institution. In cases where the FDIC has been unable to find a healthy institution willing to accept such a transfer, it has arranged for the payment of the insured principal and accrued interest to the depositors. This payment has usually occurred in a matter of days.

Please go to http://www.fdic.gov/deposit/index.html to learn more about FDIC insurance.

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*When deposited funds are exchanged on a dollar-for-dollar basis with other institutions that use ICS, our bank can use the full amount of a deposit placed through ICS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor's consent, our bank may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available for local lending. Deposit placement through CDARS or ICS is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through CDARS or ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds.

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FNBO is an Equal Opportunity/Affirmative Action/Veterans/Disability Employer.

Only deposit products are FDIC insured.

Investment Products are:

NOT FDIC INSURED • NOT A DEPOSIT OR OTHER OBLIGATION OF THE BANK • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT GUARANTEED BY THE BANK • MAY LOSE VALUE