Account Comparison 

Cash Management Services

Effective Cash Management involves having the right amount of cash in the right place at the right time. Hickory Point Bank offers valuable insights on ways to invest your funds.  From efficient collection and disbursement services to sweep accounts, our products will make your banking easier and save you money.

Cash Management Officer Bonnie Virden Vice President bonnie_virden@admworld.com 225 N. Water Decatur, IL 62523 (217)872-2823

Products and services include:

Investment sweep
The Investment Sweep provides an attractive investment vehicle for excess balances. Excess funds in your commercial checking account are automatically invested overnight to enhance your company’s yield on its cash balances.  As this transfer is made automatically, you can rest assured that your money is always working for you, no matter what the amount of that day’s collections. 

• Earn Interest – As funds above a specified “target” balance are swept from your commercial checking account to an overnight investment account, your company’s funds are always at work. Tiered rates are tied to short-term market rates so you will always receive a competitive return on your money.
   
• Security – Enjoy the comfort of knowing funds are in a secure investment.
   
• Convenience – The bank performs the electronic transfer of funds automatically on your behalf based on your specifications.
   
• Low Cost – Collected balances in your commercial checking account can offset the low monthly fee.

Loan sweep
The Loan Sweep provides borrowing customers a reward for their full service relationship with Hickory Point Bank. For those clients with a revolving credit agreement and a commercial checking account, Hickory Point Bank provides this valuable “linking” service. 

You establish a target balance in your commercial checking account.  Then, funds are transferred electronically based upon the day’s deposits and disbursements.  If the day’s activity brings the balance below the target balance, an advance on the revolving credit is made.  If the day’s activity results in an excess above the target balance, a pay-down on the revolving credit is made. As an added feature, if the line is paid to zero, and funds in the commercial checking account are in excess of the target balance, an investment sweep may be linked to the account as well.

•  save money – Idle funds are swept from your company’s  commercial checking account and used to reduce the balance on your line of credit.  This results in interest expense savings to your business.
   
• earn interest – Once the line reaches zero, funds may be swept into an overnight investment account so you can optimize your profitability.
   
• convenience – Funds are automatically moved between accounts based on your specifications. Also, funds from your line of credit can be used to cover outstanding items so you won’t have to worry about returned checks or overdraft fees.
   
• low cost – Collected balances in your commercial checking  account can offset the low monthly fee.

Internet banking
Internet Banking is the perfect tool to let you manage your company’s money from home, the office, or on the road. Clients can conveniently and securely access their account through any Internet connection. This service will save your company time and help you keep track of your accounts. 

• convenience – Enjoy the convenience of 24-hour access to your balance information. From any Internet connection you will be able to review account balance information, and move funds between your accounts electronically.  Plus, perform numerous account functions electronically, including initiating wire transfers and ACH transactions.
   
• Security – Separate client and employee identification codes ensure your complete privacy. Our state-of-the-art technology will provide you with the highest level of security.
   
• Save time – Use Internet Banking to initiate wire transfers, originate payroll via Automated Clearing House (ACH), disburse funds via ACH, and apply stop payments to checks or ranges of checks.
   
• Improve Recordkeeping – With Internet Banking, you can view copies of cancelled checks and statements to improve your reconciliation process. Also, you can create alerts relating to your accounts to help you keep track of your balances.

Payroll Services
Payroll Services will make payday easier for you and your employees by reducing costs, saving time, and providing security. 

• Reduce Costs – We can provide direct deposit to reduce the costs involved with paper checks.
   
• Save Time – A payroll account can be linked to your operating account and funds can be transferred automatically. Direct deposit eliminates the need to prepare and sign checks for every employee. Employees receiving paper checks will benefit from the convenience of numerous branch offices.
   
• Security – Direct deposit may reduce instances of check fraud.

Check Reconciliation
With Check Reconciliation we process your paid checks and match them against your issued checks, saving you time and money and improving your record keeping. 

• Save money – Reduce administrative expense by redirecting this function to Hickory Point Bank.
   
• Save time – A monthly detailed report will increase the accuracy and timeliness of your check reconciliation.
   
• Improve Recordkeeping – Easy-to-read hard copy reports will improve your audit trail.

Lock Box Processing
Save a step and have your customers send their payments directly to us with Lock Box Processing. Let us use our experience and state-of-the-art equipment to process your receivables. You will benefit from improved float periods, lower administrative costs, and improved record keeping. 

• Experience – We process thousands of items per day from remitters all over the country.  Hickory Point Bank is one of the largest lock box processors in Central Illinois and serves clients ranging from large corporations to small businesses.
   
• Improved Float – Convert accounts receivable to cash more quickly by having the items sent directly to us and deposited the same day.  Plus, Hickory Point Bank utilizes strategic geographic mail collection points and couriers to maximize postal efficiency.
   
• Lower Costs – Allow us to take the burden of this administrative task. Our high volume, state-of-the-art equipment and efficient operation enable us to provide this service at a low cost to you.
   
• Improved Recordkeeping – We provide timely and detailed reports to help improve your recordkeeping.

other services

Checkpoint
Hickory Point Bank creates images of your cancelled checks and places them in numeric order with ten to a page.  This document is then delivered to your business in your monthly statement. Clients may elect to receive their bank statement and cancelled checks electronically via CD Rom for convenient storage and research.

Merchant Processing
Hickory Point Bank’s merchant credit card program provides business clients with a convenient and cost effective way to accept credit cards.

Investment Services

• Commercial Money Market Account – Invest short-term or long-term funds in a fully liquid investment vehicle with all the benefits of a bank deposit.
   
• Certificates of Deposit – Ranging from 30 days to 60 months, Hickory Point Bank has a reputation of being an industry leader in offering exceptional rates and soundness.
   
• HPB Financial Services, inc. – Hickory Point Bank maintains a full-service retail brokerage service with access to short-term and long-term investment products through Raymond James securities. These services are not FDIC insured.
   
• Trust Services – Our trust professionals can tailor a financial plan and offer products and services fitted to your particular set of financial objectives. These services are not FDIC insured.