Monthly Fee: $50.00 monthly fee

Interest: Calculated on the Average Available Balance on the Sweep Savings account only for the month. The rates paid are based on the three month t-bill minus 75 basis points and can change at the bank's discretion each day. Interest is not paid on any balances below $50,000.00. Interest of the three month t-bill minus 75 basis points is paid on balances of $50,000.00 and above.

Floors: Excess balances are swept into the designated account on a daily basis. The primary depository account is required to keep a minimum balance (floor) to cover activity charges related to the primary account. A minimum floor of $50,000 is required in the primary account for all Sweep accounts at Provident State Bank, your local bank.  Should it be determined that the compensating balances need to be greater than $50,000 to cover the activity charges, then the floor shall be raised to the appropriate levels.

Confirmations: Customers will receive a daily confirmation of the securities held. The confirmations can be faxed, mailed, or emailed. All balances in the sweep account will be 100% collateralized by various securities currently owned by Provident State Bank, your local bank.