FNBB offers Escrow Services designed to assist De Novo Organizing consortiums with the processes of forming their financial institution from Organizational Lines of Credit and Bank Stock financing to an efficient means to handle subscription funds. The De Novo Services we offer demonstrate our commitment to the continued growth of community banking. Our focus is fixed on being a partner to community banks, never the competition. Let us be your partner to help you with the formation of your new community bank and to be with you as your bank grows.
Unparalleled Service
FNBB’s team of banking professionals possess extensive banking experience and great familiarity with the markets they serve. They are available to sit down with you face-to-face to discuss your needs and plans for the future. You can always count on them to be true to our motto – Service Beyond Comparison.
Escrow Account
FNBB will accept subscription agreements and escrow funds from the subscriber. An escrow account will be established in the organizing name upon execution of the FNBB Escrow agreement. FNBB will hold all subscription funds received until disbursement as directed by the organization in fulfillment of the terms of the agreement. We will maintain a Subscriber Report that contains a list with each subscriber and the amount of funds and date of deposit in the escrow account. Each investor is FDIC insured up to $250,000.
Processing
Checks received by 2:00 pm local time are credited the same day with next day availability. When checks are returned for any reason to FNBB from the drawer’s financial institution, the amount is debited from the escrow account and returned. The returned items will be listed on the Subscriber Report. All returned checks and returned subscriptions will be mailed by regular first class mail to the subscriber.
Escrow Reporting
FNBB will provide you access to NetLink, our secure internet-banking platform, to allow you to review account balances and activity on a daily, weekly or monthly basis. Account deposits, withdrawals, interest and loan information will be provided.
Insurance Services
Every “In Organization” group should prepare with a simple Director & Officers Liability policy while you move through regulatory approval, escrow funding and bank development processes. Many exposures exist for individuals putting a bank together. FNBB Insurance Agency, LLC specializes in bank insurance policies to fit all stages of the De Novo process and beyond.
Organizational Lines of Credit
FNBB specializes in assisting with new bank formations. Our lending team can help finance the expenses associated with your organizational process with a line of credit reducing the need for your director group to fund the bank’s start-up costs.
Bank Stock Financing
Assisting you in handling your bank stock loan request is a primary focus for us and we appreciate the opportunity to assist you with your bank stock financing needs.
Contact us for more information.
Unparalleled Service
FNBB’s team of banking professionals possess extensive banking experience and great familiarity with the markets they serve. They are available to sit down with you face-to-face to discuss your needs and plans for the future. You can always count on them to be true to our motto – Service Beyond Comparison.
Escrow Account
FNBB will accept subscription agreements and escrow funds from the subscriber. An escrow account will be established in the organizing name upon execution of the FNBB Escrow agreement. FNBB will hold all subscription funds received until disbursement as directed by the organization in fulfillment of the terms of the agreement. We will maintain a Subscriber Report that contains a list with each subscriber and the amount of funds and date of deposit in the escrow account. Each investor is FDIC insured up to $250,000.
Processing
Checks received by 2:00 pm local time are credited the same day with next day availability. When checks are returned for any reason to FNBB from the drawer’s financial institution, the amount is debited from the escrow account and returned. The returned items will be listed on the Subscriber Report. All returned checks and returned subscriptions will be mailed by regular first class mail to the subscriber.
Escrow Reporting
FNBB will provide you access to NetLink, our secure internet-banking platform, to allow you to review account balances and activity on a daily, weekly or monthly basis. Account deposits, withdrawals, interest and loan information will be provided.
Insurance Services
Every “In Organization” group should prepare with a simple Director & Officers Liability policy while you move through regulatory approval, escrow funding and bank development processes. Many exposures exist for individuals putting a bank together. FNBB Insurance Agency, LLC specializes in bank insurance policies to fit all stages of the De Novo process and beyond.
Organizational Lines of Credit
FNBB specializes in assisting with new bank formations. Our lending team can help finance the expenses associated with your organizational process with a line of credit reducing the need for your director group to fund the bank’s start-up costs.
Bank Stock Financing
Assisting you in handling your bank stock loan request is a primary focus for us and we appreciate the opportunity to assist you with your bank stock financing needs.
Contact us for more information.