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High-Balance Deposits Secured by FDIC

Protecting your deposited funds has never been more important. For accounts that exceed the $250,000 FDIC limit, Stearns Bank offers ICS® (Insured Cash Sweep) and CDARS® (Certificate of Deposit Registry Service). These programs extend FDIC protection across the full value of your deposits*, with the convenience of a single account and personal service of Stearns Bank.


"Stearns Bank is credit strong with a bullet-proof balance sheet and high capital ratios. We are well positioned for high performance and long-term growth."

Kelly Skalicky
Stearns Bank President and CEO


*The Stearns Bank ICS program provides FDIC insurance coverage for up to $100 million in deposits, and up to $50 million for CDARS.


How ICS Works

An ICS account is a secure and convenient way to manage business deposits of $250,000 or more, with full FDIC protection.

With ICS, you can:

Rest assured. Make large deposits eligible for multi-million-dollar FDIC insurance. This protection is backed by the full faith and credit of the federal government.

Access funds. Make unlimited withdrawals on any business day using the ICS demand option or up to six program withdrawals per month using the ICS savings option. Funds can be placed using either or both ICS options to match your cash management and liquidity needs.

Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option or into money market deposit accounts using the ICS savings option.

Save time. Work directly with Stearns Bank to track account activity, balances and other information online. Set up electronic statements from a single Stearns Bank account, rather than multiple banks.

Contact an ICS/CDARS Representative


How CDARS Works

If you are seeking CD-level rates comparable to Treasuries or government money market mutual funds, CDARS offers the security of FDIC insurance with the convenience and personal service of Stearns Bank.

CDARS features:

Peace of mind. Access multi-million-dollar FDIC insurance on CD investments.

One relationship. Work directly with our dedicated team at Stearns Bank.

One rate. Negotiate one interest rate per maturity on CD investments placed through CDARS, instead of multiple rates or tally disbursements for each CD.

One statement. You receive one regular e-statement detailing your CD investments. No need to manually consolidate statements at the end of each month, quarter or year.

No hidden fees. You will not be charged annual fees, subscription fees, or transaction fees for using CDARS. The rate you see is the rate you get.

No ongoing collateralization. Because CDARS deposits are eligible for FDIC protection, you can eliminate ongoing collateral tracking.

Maturity options. Select 52 weeks or two years and choose terms that best match your liquidity needs. 

Community investment. When you choose Stearns Bank, your deposits support lending initiatives that strengthen local communities.

Contact an ICS/CDARS Representative

Corporate Treasury and Cash Management

ICS-CDARS bank safeFor high-balance corporate funds, an ICS or CDARS account is a sound and safe option. These programs extend FDIC protection across large balances, with the personal service and efficiency of a single bank relationship. ICS and CDARS is a perfect solution for cash management strategies focused on safety, liquidity and access to funds.

Read our blog: Insured Deposits Are Safe Bet for Corporate Treasury

Solutions for corporate high-balance deposits

Protect Your Personal Funds

Protecting your wealth as you prepare for life’s big moments and unpredictable challenges is a top priority. ICS and CDARS, offered through Stearns Bank, provide security for your savings and investment planning. No matter who or what you’re saving and spending for, you’re always backed by FDIC insurance, matched with personal service and support from Stearns Bank.

Read our blog: FDIC Insurance: Strength and Security for Deposits

ICS and CDARS programs for high-balance deposits

Video: How ICS and CDARS Work

Video: How ICS Works

Video: How CDARS Works

Frequently Asked Questions (FAQ)

Why would an ICS or CDARS account be better than using multiple banks?

For one, you don’t have to run around and continue filling out paperwork at multiple institutions. With an ICS or CDARS account, you only have to open one account to take advantage of the automatic, additional FDIC insurance coverage through the networks’ banks.

Where is my money located?

Your deposits placed through ICS and CDARS are deposited only in FDIC-insured banks. The bank that you choose will act as the custodian of your deposits.

What type of security does ICS and CDARS offer?

Your confidential information is not shared with the ICS and CDARS bank networks. The programs are designed to comply with all FDIC requirements. You can always be confident that your deposits are safe and sound with FDIC insurance.

How does an ICS account work?

The account can be a checking or savings account. Both accounts can earn interest, allow for unlimited deposits and have no minimum balance requirements.

How can CDARS make funds eligible for FDIC insurance in excess of the standard maximum deposit insurance amount?

Financial institutions that offer CDARS are members of the IntraFi Network. The FDIC insurance available through CDARS is provided by the IntraFi Network members that issue CDs. The customer funds are placed into CDS at the network banks, each in an amount less than the standard FDIC insurance maximum of $250,000. Again, working directly with one bank, a customer can access FDIC insurance coverage from the network of banks.

Does CDARS offer a wide range of maturity options?

Select 52 weeks or two years and choose terms that best match your liquidity needs.

What is the coverage limit for the ICS program?

The Stearns Bank ICS program provides FDIC insurance coverage for up to $100 million in deposits, and up to $50 million for CDARS.

What happens if an ICS/CDARS Network member bank fails?

In the unlikely event of a bank failure, the bank’s ICS/CDARS accounts will be transferred to a healthy institution. This is the FDIC’s preferred approach. If the FDIC is unable to transfer funds to healthy institution, it will arrange payment of insured principal and accrued interest to depositors.

The Stearns Bank Difference

  • Check markRecognized national top-performing bank
  • Check markWell-positioned for any economic climate
  • Check markEmployee-owned, customer-driven
  • Check markPersonal service from real people
  • Check markGuidance from dedicated experts
  • Check markNationwide lending and banking services

Stearns Bank Awards

At Stearns Bank, our personal service, sense of urgency, strong financial management and consistent performance are recognized nationally.

Independent Community Bankers of America (ICBA)
Recognized as one of the top-performing banks in the nation by Independent Community Bankers of America.
Monitor Top 100
Listed among the Monitor 100 largest equipment finance companies.
American Banker Best Banks to Work For
Ranked in the top 20 on American Banker's Best Banks to Work For Listing.
Best Bank - StarTribune Minnesota's Best
Named Minnesota’s Best Bank & Best Ag Lender, two years in a row, by readers of the Star Tribune.
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