Clearing/Cash Management

 

CenterState Bank's Clearing/Cash Management Solution was designed to provide a community bank with the ability to aggregate all of its settlement entries into one account. The Clearing/Cash Management Solution is comprised of the following services:

 

Sweep Account
Our sweep account allows financial institutions to consolidate remaining daily balances ensuring that every excess dollar is invested at a competitive Fed Funds rate. This service removes the burden of daily settlement decisions by continuously monitoring the account and investment of all available funds. The invested funds are re-credited the following morning to be used to settle daily transactions.

 

The sweep account is also designed to sweep funds from a financial institution's Fed Funds Line of Credit with CenterState Bank. These funds are swept in $1,000 dollar increments in order to limit the purchase of unnecessary funds.

 

CenterState Bank's suite of Clearing/Cash Management services are offered at competitive prices with no hidden fees.

 

Federal Funds
CenterState Bank offers both Agent and Principal Federal Funds programs. When utilized in conjunction with our Sweep Program, excess funds will be automatically invested into one of these programs.

 

Our Agent program allows community financial institutions to automatically diversify funds between CenterState Bank and approved upstream purchasers in the program. The Principal program is availalble for banks wishing to sell their funds exclusively to CenterState Bank. In both programs the principal and interest is credited back the following morning to ensure optimum availability.

 

For more information on our Clearing/Cash Management Solution, please contact your Business Development Officer.