Commercial Bank of California is a minority-owned bank providing a unique array of specialized services to public sector entities at the state, local, and semi-private levels. We are proud to be the largest Latino-owned bank in California. Our experience and commitment to the communities we serve equals your success.
Whether your needs involve specialty financing, managing budgetary issues, improving financial accountability, or simple treasury management, the Public Sector team at Commercial Bank of California has a unique set of skills, products, and services to help you maximize results for your stakeholders in your community. We bring banking expertise, sophisticated technology, and innovation to every challenge to ensure you receive the latest in creative yet pragmatic solutions.
The Public Sector Specialty Services
- Comprehensive deposit services, including Remote Deposit, courier deposits, and armored transport services.
- Sophisticated online banking services, including wire transfer and ACH transaction origination.
- Merchant Card Services
- CDARS investments
- Lock-box Services
At Commercial Bank of California, we understand the unique needs of your public sector entity. Our personalized service and experience is your key to success.
Public funds deposited at Commercial Bank enjoy safety and security that is second to none. Our CDARS investment program allows you to earn competitive returns and on-time deposits while enjoying full FDIC insurance on all deposited funds. We also offer the financial strength of a bank ranked among the highest in the nation by capitalization. While we are big enough to meet your needs, we remain small enough to care. Our size allows us to maintain a culture of innovative problem solving, while our experience working with California municipalities gives us a unique understanding of your needs.
How does CDARS work?
We are a member of the CDARS Network of participating financial institutions. When you open a large certificate of deposit with us, we place a portion of your funds into CDs issued by other banks in the Network in amounts below the FDIC insurance limit. In this way, all of your principal and interest are fully covered by FDIC insurance. 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 one and receiving just one regular statement.
- When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the Network, the relationship institution can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors’ local investment goals or mandates. In certain states, and with a depositor’s consent, the relationship institution may choose to receive fee income instead of deposits from other Network members. Under these circumstances, deposited funds would not be available for local lending. CDARS satisfies the FDIC’s requirements for agency pass-through deposit insurance coverage. Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us. If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor’s funds through CDARS satisfies those restrictions. CDARS is a registered service mark of Promontory Interfinancial Network, LLC. 0316