The Financial Institutions Group at Xenith Bank works with community banks and credit unions to provide a competitive alternative to overnight Federal Funds Sold.
We offer a high-yield Money Market program for financial institutions, providing the liquidity and security required in today’s environment.
Xenith Bank’s financial strength and industry experience support our commitment to developing strong partnerships with our customers.
Financial Institution Money Market Account
Our Financial Institution Money Market accounts are priced at an attractive spread over current Federal Funds rates.
Other key features are as follows:
- Interest on deposits is calculated on a 365-day basis
- Up to six debits per month
- Simple interest accrues daily and is deposited to your account monthly
- Cutoff time for same-day investments is 2:00 p.m. EST
- Minimum balance of $250,000
- Maximum balance of $5,000,000
Financial Institutions Team
Thomas W. Osgood
EVP, CFO / Chief Administrative Officer
Carter E. Buxbaum
SVP, Strategy & Funding