We have a public funds account that’ll help you get the most out of your money.

Key Features

  • No Monthly Service Fee
  • Unlimited Check Writing
  • Free Business Digital Banking
  • $100 minimum deposit to open
  • Set extra business funds aside
  • Earns interest
  • Avoid the $2 monthly service fee by maintaining a $100 minimum daily balance
  • 6 free withdrawals per month; $3 fee for withdrawals in excess thereafter
  • Surcharge-free ATMs also available
  • Free business digital banking, including:
    • Online banking
    • Mobile banking (wireless carrier data rates may apply)
    • Mobile deposit
    • eStatements
  • Cash management services available
  • Business sweep also available

Additional Transaction Limitations

Transfers from this account to another account or to third parties by preauthorized, automatic, mobile device, telephone, computer transfer (including bill payments), withdrawals made by check, debit card, or similar order are limited to six (6) per month.  An excess fee of $3.00 per item applies if these limits are exceeded. 

Commercial Sweep

Funds above a predetermined target balance will move automatically between accounts (business account into the Interest-bearing Sweep Account) while maintaining adequate funds for disbursements.

Funds automatically move to or from the Interest-bearing Sweep Account at the end of each business day. Daily notices are provided with balances and information about the security pledged on your behalf. The Sweep Account is a non-FDIC insured checking account collateralized by securities pledged by the bank.

  • Available to business customers with a First Southern Bank business checking account 
  • Keep your money working for you, automatically 
  • Maintain target balances while maximizing interest earnings 
  • Backed by U.S. agency securities, making it a very safe investment 
  • Receive benefits where you need them the most: 
    • Designate a target checking balance 
    • Excess funds are automatically swept into an interest-bearing investment account 
    • Principal is automatically transferred back into your checking account the next day 
    • Funds are swept back over to your checking should you fall short of your balance

Line of Credit Sweep

Funds above a predetermined target balance will move automatically between accounts (business account and Line of Credit). You can pay down outstanding balances on your Line of Credit or advance from your Line of Credit to your business account.

Zero Balance Sweep

A zero balance account is an account in which a balance of zero is maintained by moving funds to and from a Master Account, which is an interest-bearing sweep Account. The Master Account provides a centralized place to manage and earn on excess funds. Funds automatically move to or from the Master Account at the end of each business day to offset the net activity in each ZBA. 

  • Perfect for companies with multiple divisions, stores, or operating units
  • More than one ZBA can be linked to the primary account
  • Multiple account balances are concentrated into one, centralized account
    • Funds are disbursed to individual ZBA accounts only when necessary to cover checks or debits
  • Concentrate funds, eliminating idle balances and simplifying account management
  • Maintain required balances for disbursements while maximizing excess balances
  • Transactions flow through separate accounts for audit purposes while balances are consolidated for funding
  • Eliminate the need for manual transfers between bank accounts
  • Separate statements for each account