Corporate Sweep Account

Lumbee Guaranty Bank is pleased to offer you a Corporate Sweep Account. Our Corporate Sweep account will allow you the ability to sweep excess cash balances into a Repurchase Agreement Account on a daily basis. Your deposit checking account will be linked with an investment account and, adjusts your checking account to a predetermined target balance by transferring the funds to or from the investment account as needed.

Benefits:

Eliminating the need for monitoring checking accounts by having only one account for all short term cash.

Automatically investing excess funds into Repurchase Agreement Accounts.

Consistently earning competitive interest

The Repurchase Account is a tiered rate account which means the 'higher the balance' the 'higher the interest rate'. Interest earned from the investments in the Repurchase Account will be paid to the Repurchase Account daily.

Interest on the Funds in the Repurchase Account is subject to change daily.

A separate monthly statement will be provided for the Repurchase Account at month-end.

A monthly fee will be charged for the Repurchase Account. This fee will be included in the account analysis for your commercial checking account.

Lumbee Guaranty Bank is committed to providing you with high quality products and service. The "Corporate Sweep Account" will be a compliment to your existing checking account. Stop in today and talk with any of our Branch Managers or Customer Service Representatives.

The Repurchase Agreement is not a deposit and is not insured by the Federal Deposit Corporation.


NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.

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