Interest Rate Change & New Product Offering

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Effective November 1, 2016 The First National Bank of Woodsboro will be decreasing Interest Rates on the following products:


Account Type

New Interest Rate

Savings Account


Liberty Account


Business Freedom


Personal Money Market Account


Commercial  Money Market Account



The First National Bank of Woodsboro has entered into an agreement with Promontory Interfinancial Network, LLC “Promontory” to offer a new interest-bearing product. The Insured Cash Sweep “ICS” Money Market Account* will allow FNBW customers a smart, secure, and convenient way to earn a return and access multi-million-dollar FDIC protection on large savings deposits.


Account Type

Interest Rate

ICS Personal Money Market Account


ICS Commercial Money Market Account



The ICS Money Market Account has the benefits of increased FDIC Insurance, higher interest rates, and interest rates that may be tied to market. For additional information or to schedule an appointment, please contact Thomas Greenly at 361-543-4511 or


Frequently Asked Questions


How can deposits greater than the standard FDIC insurance maximum be eligible for insurance by the FDIC?

The FDIC generally insures up to $250,000 of a customer’s deposit accounts in a given insurable capacity at an FDIC-insured depository institution. Your ICS funds are divided into amounts under the standard FDIC maximum and placed with other ICS Network members – each a FDIC-insured institution. This makes your deposit eligible for FDIC insurance at each member bank. By working directly with our bank, you can access insurance through many banks. You do not have to pay a fee to use this service. You will receive just one consolidated, monthly account statement from us. (You can also see, online, where your funds are at all times.)


How often can I access my funds?

You can withdraw ICS funds up to six (6) times per month.


Who has custody of my funds?

Funds placed through ICS are only deposited in FDIC-insured banks. FNBW acts as custodian for your ICS deposits, and the sub-custodian for ICS deposits is The Bank of New York Mellon, the largest custodian in the world.


Who provides additional FDIC insurance when my funds are placed using ICS?

Through ICS, funds are placed in savings accounts (money market deposit accounts) with ICS Network members. Those Network members provide you with access to the additional FDIC insurance coverage.


Is my account information safe?

You work directly with us – the bank you know and trust. As always, your confidential information remains protected.


*Placement of your funds through the ICS service is subject to the terms, conditions, and disclosures set forth in the agreements, including the ICS Deposit Placement Agreement, you enter into with FNBW. Limits and customer eligibility criteria apply. Program withdrawals are limited to six (6) per month. Minimum balance of $100,000.00 to obtain disclosed interest rate on ICS Money Market Account.