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FDIC Deposit Insurance Coverage

FDIC Deposit Insurance Coverage

Deposits at FDIC insured institutions such as PCB are insured up to $250,000 per depositor, per depository institution, for each account ownership category.

Use the FDIC's Electronic Deposit Insurance Estimator (EDIE) calculator to help determine your deposit insurance coverage.

Access Multi-Million-Dollar FDIC Insurance

With the Insured Cash Sweep® (ICS®) and CDARS® services, you can enjoy the peace of mind that comes with access to multi-million-dollar FDIC insurance and can choose the service or combination of services that best meets your needs for returns and access to funds. 

  • Enjoy Peace of Mind - Rest assured knowing that your funds are eligible for multi-million-dollar FDIC insurance protection that’s backed by the full faith and credit of the federal government.

  • Earn Interest - With ICS, funds can be placed into demand deposit accounts (using the demand option), money market deposit accounts (using the savings option), or both. With CDARS, funds are placed into CDs. And, with ICS, CDARS, or both, you enjoy the conveniences of banking directly with us and of earning one interest rate per service.1

  • Access Funds - With ICS, enjoy unlimited withdrawals using the demand option or up to six program withdrawals per month using the savings option. With CDARS, select from a range of maturities.

  • Save Time - Work directly with just us—a bank you know and trust—to access multi-million-dollar FDIC insurance, and forego the need to use repo sweeps or to track collateral on an ongoing basis.

  • Support Your Community - Feel good knowing that the full amount of your funds placed through ICS, CDARS, or both, can stay local to support lending opportunities that build a stronger community.2

How Do ICS and CDARS Work?

Institutions, like ours, that offer ICS and CDARS are members of a special network. When we place your deposit through the ICS or CDARS service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The amounts are then placed in demand deposit accounts or money market deposit accounts (using ICS), or in CDs (using CDARS) at multiple banks. As a result, you can access coverage from many institutions while working directly with just one. You receive one monthly statement from our bank for each service in which you participate, and, as always, your confidential information is protected.

[1] One interest rate per CD maturity when using CDARS.
[2]When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the ICS or CDARS Network, we can use the full amount of a deposit placed through ICS or CDARS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor’s consent to certain types of ICS or CDARS transactions, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.
Placement of funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS or CDARS settlement for a deposit or after ICS or CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS or CDARS satisfies those restrictions. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network, LLC.