Cash management accounts

Money Market Accounts (MMAs) are interest bearing accounts unless otherwise stated. The interest rate and Annual Percentage Yield (APY), if applicable is disclosed on the Money Market Account Rate Sheet issued at or prior to account opening; rates are variable and subject to change at any time before or after account opening. You must deposit and maintain a balance for the respective MMA product tier in order to earn the disclosed Annual Percentage Yield (APY) or interest rate. Interest is calculated daily and credited monthly to the account.

For current MMA products, rates and tiers, contact Client Services at 1-800-774-7390.

Please refer to the Rate Sheet for specific details on current rates and maturities offered for Certificate of Deposit (CD) products. Certificate of Deposits provide fixed rates for the selected term and interest is accrued daily. Certificate of Deposit Rates are only applicable for the effective date listed on the Rate Sheet. Rates provided may be subject to account balance minimums. After the CD has matured, rates for CD renewals are subject to change at the bank’s discretion without prior notice. Please contact your Relationship Advisor to understand your options and to provide you with the most current rate information.

CDs are opened only on Business Days. If a CD application is submitted on a Saturday, Sunday, Bank Holiday, or for any other reason when the processing of a CD application cannot be completed on the same day, the CD will be opened on the following Business Day.

Certificates of Deposits provide fixed interest payments. You must deposit and maintain the applicable account minimum balance to earn the disclosed APY. Changes to the interest rate and APY on the Certificate of Deposit is at the discretion of First Citizens Bank and are reflected in your account statement. Early withdrawals may be subject to penalties. Please refer to the Deposit Agreement and Disclosure Statement – Business Accounts for details.

Please see Rate Sheet for additional information. Business Interest Sweep is a product of First-Citizens Bank & Trust Company. An eligible linked deposit account is required to access this product. Access to the deposit account and the business interest sweep account is through the digital banking platform. Please refer to the Deposit Agreement and Disclosure Statement – Business Accounts for details.

Insured Cash Sweep and ICS are registered service marks of IntraFi Network LLC.

Deposits placed by First Citizens Bank pursuant to the ICS Program are not deposits of or guaranteed by First Citizens Bank and are subject to the terms thereof. Deposit placement through ICS is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. Funds are swept based on triggering events set forth in the IntraFi Deposit Placement Agreement between First Citizens Bank and the depositor.

Cash Sweep is a product of First Citizens Bank. Additional terms and conditions apply. Please refer to the Cash Sweep Program Account Agreement for additional details. Investors in a money market fund should consider carefully the information contained in the prospectus of the fund, including investment objectives, risks, charges and expenses. You can obtain a prospectus by clicking on specific fund companies at Cash Sweep or by calling your relationship advisor. Please read the prospectus carefully before investing. Shares in money market funds are not deposits within the meaning of 12 U.S.C. § 1813(l) and are not insured by the FDIC. Although money market funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.

Investment and insurance products:

Investment products and services offered by SVB Asset Management:

Third parties mentioned are not affiliated with First-Citizens Bank & Trust Company.

This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. This information should not be viewed as tax, investment, legal or other advice nor is it to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation, offer, or recommendation to acquire or dispose of any investment or to engage in any other transaction. None of this material, its content, nor any copy of it, may be altered in any way, copied, transmitted or distributed to any other party, without the prior express written permission of SVB Asset Management. SVB Asset Management is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not in any way constitute an endorsement by the SEC of an investment adviser’s skill or expertise. Moreover, registration does not imply that a registered adviser has achieved a certain level of skill, competency, sophistication, expertise, or training in providing advisory services to its clients. For institutional purposes only.

SVB Asset Management is a wholly owned, non-bank subsidiary of First-Citizens Banks & Trust Company.