The First State Bank can offer you extended FDIC coverage, up to $50 million, because we are members of a special network known as CDARS. CDARS® is the Certificate of Deposit Account Registry Service®.
When you place a large deposit with The First State Bank, we use CDARS to place your funds into certificates of deposit issued by banks in the CDARS network. This occurs in increments of less than $100,000 to ensure that both principal and interest are eligible for full FDIC insurance. Other network members do the same thing with their customers' deposits.