PCBB’s Insured Sweep Program helps community banks solve for both liquidity and funding needs.
Walnut Creek, CA (PRWEB) November 17, 2015
Pacific Coast Bankers’ Bank (PCBB), a national financial services leader serving community banks, announced today the availability of PCBB’s Insured Sweep Program, allowing community banks to offer their customers access to FDIC insurance on deposits.
PCBB’s Insured Sweep Program facilitates the matching of a depositing community bank’s excess cash with other banks seeking to raise deposits. The deposit amounts are kept in increments of $250,000 or less, allowing the community bank access to FDIC insurance.
“PCBB’s Insured Sweep Program helps community banks solve for both liquidity and funding needs,” said Steve Brown, President and Chief Executive Officer. Brown added, “By matching banks that need deposits, with community banks that have excess funds, both needs are met quickly and efficiently. Banks that invest have their funds placed with community banks in amounts subject to the FDIC deposit insurance limit eligibility.”
PCBB was founded by bankers to help community banks build stronger institutions. PCBB does not compete with our community bank clients for their customer’s business. Today, PCBB provides community banks across the nation with comprehensive products and services, including correspondent banking, performance, lending and consulting solutions.
PCBB (“Pacific Coast Bankers’ Bank”) was founded in 1997 by community bankers and is a wholly-owned subsidiary of Pacific Coast Bankers’ Bancshares. PCBB is a state-chartered, FDIC-insured member of the Federal Reserve System, serving the needs of community based financial institutions. PCBB solutions include loan sales and purchases, loan participations, international, hedging and correspondent services. Consulting services include online risk adjusted loan pricing, relationship profitability and risk management. PCBB also has a subsidiary, PCBB Capital Markets, which offers broker dealer services.