Businesses today face many pressures to stay competitive. State Bank offers a suite of treasury services that enable companies of all sizes to manage financial transactions securely and efficiently.

State Bank’s portfolio of products and services functions as an extension of the customer’s business. “From the ultra-big to the sole proprietorship, we have services and products that provide a high level of cash management control for all businesses,” said Jeremy Pritchard, a State Bank senior treasury professional. “We help our customers get their receivables in a more efficient manner, make their payables more effectively, and develop greater control of the money they have in the bank.”

State Bank offers an array of specialized options from remote deposit capture, online payment collection, bank-to-bank transfers, lockbox security for payment collection, remote cash deposit, human resource and payroll management, and technology and security functions. 

Through State Bank’s remote deposit capture, business customers can also scan checks that are then automatically credited to their banking accounts. 

“We install the scanning machine at the customer’s place of business,” Pritchard said. “They can scan their checks for deposit, which saves time driving to the bank and allows for faster availability of funds. With our remote deposit capture, we offer an extended time for businesses to make electronic deposits and receive next-day availability of funds.”

State Bank maintains a collaborative relationship with the National ACH Association (NACHA), the rulemaking body for the ACH (Automated Clearing House) service, which facilitates transferring funds electronically between banks. Typically used for direct deposit payroll, State Bank also provides ACH services for debit payment, which allows a company to automatically withdraw payments from a customer’s account.

“We offer many interesting and in-depth services to help our clients with receivables and payables,” said Pritchard. “We also make sure that we essentially serve as an extension of their business to help the management of their funds to run as smoothly as possible.” 

State Bank offsets fees for treasury products and services through an earnings credit. Based on a customer’s deposits or total balance, earnings credits can be used to reduce fees for the bank’s products and services, often resulting in significant cost savings or total elimination of bank fees. 

“All our treasury services can be offset by earnings credits,” said Pritchard. “At most banks, there are certain services that customers have to pay for out of pocket. However, at State Bank we allow all of our services to be offset by earnings credits.”

Pritchard explains that typically community banks are not able to offer the expansive list of products and services that State Bank provides, due to the cost to the customer. 

“Most community banks do not offer all these products and services; it is typically too expensive. At State Bank, we want to do this at a community level and at a cost that makes sense for our customers.” 

State Bank uses multi-account analysis to benefit customers that have several business accounts owned by the same common control. “We look at the total balance of each relationship and pay an earnings credit rate on total balances,” said Pritchard. “If you have five companies and one keeps a large balance but the other four do not, you can combine, for accounting purposes, the total balances on all those accounts. The customer then receives earnings credits based on the higher balance. They can use those earnings credits to pay for fees and services for any of the accounts.” 

State Bank’s Treasury Services group has experts in Middle Georgia, Atlanta and Augusta. 

 “We have seen tremendous cost savings to local businesses,” said Pritchard. “We are rewarding our customers with greater services that they would not necessarily get [at another bank] and providing them with flexible ways to pay for these services.” 

For more information, speak with a relationship officer at any State Bank location in Middle Georgia or call Jeremy Pritchard at (478) 796-6058 ([email protected]).