Public Deposit Security

Security for Public Deposits

NBT Bank provides local government the option to secure deposits that exceed FDIC insurance limits. Excess funds are secured with insurance and eligible collateral, as required by the state in which the local government is located.

NBT Bank uses the Bank of New York Mellon (BNYM) as its third party custodian. The BNYM monitors the local government's account balances and adjusts its collateral daily to ensure that these public deposits are always adequately collateralized. The local government receives collateral reports directly from BNYM, providing the independent reporting recommended by the State Comptroller's Office.

Contact one of our relationship managers for more information.

 

NBT Bank Logo
NBT Bank - Please Upgrade Your Browser.

It appears that the version of Internet Explorer you are using to view this site is no longer supported by our website. At NBT Bank we value your security and strive to deliver the highest quality online experience. To ensure the best and most secure performance we recommend upgrading to the latest version of Microsoft Edge, Mozilla Firefox or Google Chrome.

Please visit Microsoft.com, Google.com, or Mozilla.org to download the current version(s).

If you have any questions or need any assistance please contact Customer Service at 1-800-NBT-BANK.