FICA® | For Banks* is a large customer deposit solution aimed at giving your customer accounts FDIC insurance on the whole deposit versus the maximum $250,000 amount. Your institution gets to retain a satisfied customer and potentially lower your cost of funds.
This simple solution allows you to use the program in two ways. You can sell excess funds and earn fee income (one-way set-up), or you can use the buy-back feature to receive and distribute deposits (a two-way set-up).
PCBB has partnered with StoneCastle Partners, LLC to bring you this solution.
*FICA® is a registered trademark of StoneCastle Partners, LLC.