Cash Collections

1st State Bank can help you manage your business’ cash gathering process. We have cost-effective options to speed up access to available cash and reduce fraud risk.


Courier and Cash Vault Service

Your daily deposit begins with our courier pick up.  1st State Bank will arrange for a courier to pick-up deposit items from your office for delivery to the Bank in accordance with any agreed upon schedule.  Deposits picked up by the courier will be transported to one of our branch offices and posted to your account the same day.  If you deposit large volumes of cash, we’ll process and credit it to your account safely through our cash vault service.


Branch Service

Lobby deposits are available at our three locations.  For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays.  If you make a deposit before close of business Monday through Friday at the State Street Office, the Main Office on Fashion Square Blvd., or at our Downtown Bay City office on a business day that we are open, we will consider that to be the day of your deposit. 


Night Depository Service

Our deposit box is the secure way to handle your deposit needs after hours. Be safe by removing cash and checks from your premise each evening.  Convenient and safe, they are available at all of our locations.  Items deposited before the office opens for business are collected and posted that day.  Items deposited after opening are collected and posted the next business day.


Remote Deposit Service

Save time and money when you scan and send checks to your 1st State Bank account. Set up and using the compact scanning device is fast and simple.  


Automated Clearing House (ACH) Service

Streamline receipts and reduce transaction costs with electronic credits. ACH service including business-to-business transactions allowing you to collect receipts you are due. 


Merchant Services

1st State Bank offers credit and debit card payment processing solutions.  A payment processing program can provide added convenience for the public to pay bills and you can use the system to speed up collection of your receivables.  We have partnered with FIS, the world’s largest global provider dedicated to banking and payments technologies, to provide 24/7 authorization services and help desk support to match. 


Lockbox Service

Process receipts more cost effectively by outsourcing your accounts receivable to 1st State Bank.  Streamline the receivables process and gain access to your funds more quickly.  A 1st State Bank lockbox provides you with a private label post office box with a Saginaw address to which your customers can remit payments.  We collect your mail daily and process remittances quickly and accurately based on your custom lockbox instructions.  Funds are immediately deposited into your account and images of all correspondence, remittance documents and deposit information are provided to you on a daily basis.


Cash Disbursements

With 1st State Bank’s Cash Management Services you will be able to select from an array of methods to control how and when your funds are disbursed.


Positive Pay Service

Checks are a dominant payment form targeted by fraudsters.  Mitigate the risk of check fraud by expediting the identification of fraudulent items presented for payment.  Images of exception items are flagged so you can quickly and easily determine whether to make the payment or return the check.

This service is a browser-based system that supports item inquiry, item maintenance, item review and reporting capabilities.  It offers efficient exception review and settlement.   With thorough transaction verification for exception, such as duplicate transactions, amount or check number mismatches, the service offers a comprehensive means for preventing fraudulent check activity.


Automated Clearing House (ACH) Service

Our ACH service provides you with a convenient and inexpensive means of processing vendor payments or tax payments, direct depositing your employee payroll and/or transferring funds between banks.  ACH payments are processed on an overnight basis. Transactions can be on a one-time or recurring basis.


Zero Balance Account (ZBA) Service

If you have multiple operating units, divisions or subsidiaries for purposes of separating cash accounting, and any company with a payroll account, a Zero Balance Account can provide efficiency.  Link your various checking accounts to a general Operating account to provide efficiency to your available cash flow.  Using a Zero Balance Account will centralize balances for investment and funding objectives; provide additional audit control and eliminate excel balances in multiple accounts.  Funds flow between your ZBA and Operating checking account automatically eliminating the need for you to transfer funds.


Wire Transfer Service

1st State Bank will wire funds from your account with us to another bank on your instruction.  Our in-house wire transfer area will handle your domestic and international requests accurately and timely with personal attention. 

All wire transfers received prior to 4:40 p.m. on a business day will be posted to your account that day.  Cut off for outgoing wires is 3:30 p.m. on a business day.  All transfer notifications will be facilitated personally with authorized personnel via fax or telephone.


Business Visa® card

Take advantage of the security, flexibility and convenience of a VISA Business card.  Manage and track expenses, and simplify record keeping of individual employee expenses.  Choose from difference monthly account statements that fit your needs.


Information Management

1st State Bank is proud to deliver the highest level of security for our online banking customers.  Enhanced Online Security verifies your identity in two ways.  Every time you log into Online Banking the bank identifies you and it lets you identify the Bank.  The goal is to provide you with an added level of confidence. 

  • Multiple authentication access
  • Multiple levels of user authorizations
  • Unique user ID and password for each authorized employee


Vital balance and transaction information is at your fingertips with 1st State Bank’s online banking.  Quickly determine daily cash requirements, track your banking activity and make financial decisions with confidence.

  • Real-time balances and transaction history
  • View checking account statements and check images
  • Stop payment capabilities
  • Export capabilities
  • Transfer between 1st State Bank accounts, including payments to a 1st State Bank loan
  • Set up reminders and alerts


Electronic Imaging Service

Stop handling and storing account statements.  Our safe and quick checking system stores digital images of original checks for you to access quickly and securely at any time.



Basic Checking

1st State Bank keeps it simple by designing a checking account that fits most everyone’s needs. It’s simple, straightforward and efficient. 

  • Unlimited items allowed*
  • No minimum balance requirement
  • No maximum activity level
  • Free of service charges

*Items include checks paid and other debits, deposits and other credits, and checks deposited. 


Plus Checking

Receive interest on your checking balance without paying for a sweep fee.  The Plus Checking is perfect for moderate activity and balances.

  • The account pays interest
  • The first 250 items are free of activity charges*
  • No monthly maintenance fee
  • Tiered interest rates

­­*$0.25 per item over 250 Items include checks paid and other debits, deposits and other credits, and checks deposited. 


Sweep Checking

1st State Bank can accommodate high balance, high transaction volumes and pay interest with our Sweep checking.  Featuring a competitive interest rate and an earnings credit, to help reduce and possibly eliminate service charges and monthly maintenance fee.

Set your target balance and funds will be automatically swept back from the sweep account into the checking account.  This allows you access to your cash at all times and eliminates the need to transfer funds.


Money Market Accounts

Our Money Market Accounts help you manage your balances and maximize your interest return.  They offer competitive rates and the protection of FDIC insurance up to the maximum amount allowed by law.  You can deposit your funds directly into the account or transfer funds from your checking account.

Whether you need a savings account to complement your business checking account or one to use for your longer term goals, we have an account to fit your needs.

Our Money Market accounts are used to accumulate funds while still giving you the ability to write a limited number of checks to access your funds.* Minimum balance requirements start at $5,000.

*Unlimited withdrawals, if done in person or at the ATM. Preauthorized withdrawals or electronic transfers are limited to six per month.


Certificates of Deposit 

The Certificate of Deposit has become the safe, secure and easy way to set aside fixed amounts for fixed periods of time and earn better interest than a standard savings account.  1st State’s CDs offer competitive rates and terms to meet your needs.  Certificates are available to businesses, non-profit organizations and municipalities.

  • Maturities from 30 days to 10 years
  • Minimum balances starting at only $500 

See account Terms and Conditions for all account disclosures.


Investing with Access to Multi-Million-Dollar FDIC Insurance


ICS and CDARS can help your public unit comply with investment policy mandates.  With access to FDIC insurance you can reduce any ongoing collateral-tracking requirements.  By working directly with just our bank, you can receive coverage from many banks, and earn interest on savings account balances.  ICS and CDARS are smart, secure, convenient ways to earn interest and access multi-million-dollar FDIC insurance through a single financial relationship.  Your excess cash balances can be put to work in demand deposit accounts, money market accounts or CDs.

The State of Michigan Public Act 20 includes both ICS and CDARS as approved investments.

1st State Bank is a part of a special network.  When you place a large amount with us, we place your funds into accounts issued by other banks in the Network, in increments below the standard FDIC insurance maximum so that both principal and interest are eligible for FDIC protection.  With help from a sophisticated matching system, we exchange deposits with other members of the Network.  These exchanges, which occur on a dollar-for-dollar basis, bring the full amount of your original deposit back to our bank.  As a result, we can make the full amount of your deposit available for lending in the local community and your public unit can access FDIC insurance coverage through many banks while working directly with just us.

There are three accounts types to choose from; checking, money market or certificates of deposit.