Summit Bank Treasury Management Solutions

Helping your business reach its Peak Performance.

Treasury Management Solutions from Summit Bank assist you in managing the day-to-day cash flow and financial operations of your business. Our treasury management solutions can be tailored to meet your business needs and maximize your company’s business objectives. We can provide you with a clear picture of your finances daily and help you consistently maximize the value of your money. We offer solutions to help you improve your cash flow, increase your productivity and add money to your bottom line. Our goal is to provide customized and creative solutions to help your business reach peak performance.

Information Reporting

Key information about your business’s financial position is available to you whenever you need it via the Internet through Summit Bank Connect. This allows you to make more informed management decisions on your timetable.

Transaction Initiation

Efficient cash management requires the patience and vision to plan ahead and the flexibility and ingenuity to change those plans quickly. We offer a full range of transaction initiation capabilities through the Internet, so you can complete your transactions whenever it works best for you.

Account Reconciliation

Control your back office productivity and efficiency by receiving full or partial information about checks paid on your accounts. We offer a full range of products that electronically match account activity to your check issue records.

Cash Collection & Disbursement

Making informed money management decisions requires accurate and timely cash flow information. Our collection services help you simplify your deposit collecting and processing while our disbursement services help simplify your payment processes.

Funds Management

Making your money work for you. Our Funds Management services function to help you maximize your earnings and minimize expenses.

Information Reporting

Summit Bank Connect

Summit Bank Connect is your personal online connection that enables you to gather company information and initiate transactions using the Internet from anywhere you want.

Benefits

Provides a single point-of-access for your financial activity
- Manage your daily cash flow
- View the previous day’s transactions
- Research account history and print images of paid checks
- Transfer funds between accounts
- Initiate stop payments
Consolidates existing information reporting and transaction initiation services
Provides the most secure environment for electronic banking
Provides online banking from virtually anywhere
Access to additional treasury management solutions

Account Analysis

You get a complete overview of your entire treasury management relationship in your monthly analysis statements. Your account balance and services you use, along with volumes and any applicable service fees are detailed in statements that can be delivered electronically or in print.

Benefits

Helps to determine additional account needs
Allows you to evaluate your transaction volume to prevent fees
Easier to manage your overall banking relationship

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Transaction Initiation

Using Summit Bank Connect you have the capabilities to execute a variety of banking transactions from the location of your choice.

Account Transfer — Initiate internal transfers from one account to another within your Summit Bank accounts. View your transactions via online reporting.

ACH — ACH debits or credits can be initiated securely. All information is verified and sent to the receiving banks for posting.

Stop Payment — Initiate, authorize and execute a stop payment against an issued check. Information on previous stop payments is also available.

Funds Transfer (Wire) — Wire transfers can be initiated simply and securely. The system provides the highest level of security, controls and confidentiality. All data is encrypted. This service allows you to view your Incoming Wire Report throughout the day as soon as it is available to the bank.

Electronic Data Interchange (EDI) — Summit Bank can receive, on your behalf, transactions with EDI addenda records.

Positive Pay — This service allows you to view your Positive Pay Exception Report, disposition exception items online, manually issue a check, manually void a check and import a check issue file to the Bank.

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Account Reconciliation

Paid Check Reconciliation

With Paid Check File Reconciliation you will receive full or partial information about checks paid on your accounts to match up with your records for easy account reconciliation.

Benefits

Receive data in a form that works seamlessly with most accounting software
Reduces time and effort of manual reconciliation
Increases control over disbursements
Choose a reporting option that meets your unique needs

Deposit Reconciliation

Summit Bank enables customers with multiple locations to make deposits locally while maintaining a centralized depository account. Each depositing location is assigned a unique serial number and is provided with specially coded deposit tickets.

Benefits

Simplifies accounting procedures
Reconciles business reported deposits to deposits on record at the bank
Increases cash controls
Minimizes the risk of fraud

CD-Rom Statement

With a CD-Rom Statement you can receive images of your account statement, paid checks, deposited checks and deposit tickets on one disk. The CD-Rom statement will also work with most accounting software to make reconciliation easy.

Benefits

Reduces time and effort of manual reconciliation
Minimizes storage space
Easy access to all check images and deposits

Positive Pay

Positive Pay helps you to broaden and extend your fraud control measures by matching issued check information against the same check data as they are presented for payment. You have the opportunity to approve any exceptions before they are paid by the bank.

Benefits

Reduces the risk of fraud
Increases control over checks paid
Reduces time and expense of accounting staff

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Cash Collection & Disbursement

Automated Clearing House (ACH)

Using the national Automated Clearing House (ACH) network you can send and receive funds electronically without the processing and administrative expense of paper transactions. Electronic payment and collection can save both time and money for your organization.

Benefits

Improves cash flow forecasting for better control of funds and investment opportunities
Offers an efficient alternative for recurring collections or payments such as insurance premiums and utilities, Federal and State tax payments, vendor payments, payroll and pension payments, travel and expense reimbursements
Assures timely delivery of payments
More efficient payment transactions improve payer/payee relations
Eliminates paper checks and deposit slips
Reduces internal processing costs associated with paper intensive operations
Provides security and eliminates check fraud

Direct Deposit

Direct Deposit is a simple, smart and safe way for you to pay your employees. It allows businesses to electronically send payment credits, through the Automated Clearing House (ACH), to the financial institution accounts of employees and retirees.

Benefits

Saves time and effort by eliminating check reconcilement
Minimizes storage and security of checks
No time spent on printing and signing checks

Wire Transfers

The fastest way to send money when immediate availability is needed is through the Federal Reserve Wire System. You can send and receive funds on the same day, eliminating delays and clearing float.

Benefits

Reliability and security
Same day transfer and availability before 2:00 p.m. on a business day

Remote Deposit Solutions

Summit Bank offers remote deposit solutions that provide an easy and cost-effective way to streamline the deposit process and eliminate trips to the bank. You can easily scan and capture images of checks received at your office and then submit these images to the bank for processing. Utilizing remote deposit solutions will free up more time for you and your employees to spend on the things that really make a difference for your business.

Benefits

Enjoy greater convenience by banking on your schedule
Save time and money by eliminating trips to the bank
Accelerates your cash flow
Allows flexibility in your banking relationship
Improves security

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Funds Management

Making your money work for you. Our Funds Management services function to help you maximize your earnings and minimize expenses.

Repo Sweep Program

Summit Bank’s Repo Sweep Program will allow you to maximize your investment potential by automatically eliminating idle funds. The Repo Sweep program incorporates your account with an automatic overnight investment vehicle to give your company the benefits of round-the-clock cash management. In fact, once you sign up for our Repo Sweep Program you can sit back and watch your funds work for you.

Benefits

Maintains liquidity
Eliminates idle funds
Save time by eliminating daily investment decisions
Receive confirmation of investment activity

Credit Line Sweep

Summit Bank’s Credit Line Sweep automatically links your deposit account to a revolving line of credit. At the end of each day, deficit funds can be drawn from your company’s line of credit. Conversely, if there are excess funds, the line of credit will be paid down.

Benefits

Maximize excess cash by quickly paying off outstanding loans
Reduce the time spent initiating transfers between company accounts
Interest savings resulting from better management of excess funds

Auto Borrow Sweep Program

The Auto Borrow Sweep Program is the perfect combination of the Repo Sweep Program and the Credit Line Sweep Program. Your operating account is tied to both your investment account and your credit line. When checks are presented to be paid from your operating account, funds will be drawn from your investment account first, then from your company’s line of credit. Conversely, if there are excess funds, the line of credit will be paid down first and then funds will be swept into your investment account.

Benefits

Maximize excess cash by automatically investing funds or quickly paying off outstanding loans
Reduce the time spent initiating transfers between company accounts
Draws and pay-downs are automatic
Saves time as cash flow forecasting is not required
FDIC insures the collected balances in the operating account up to $100,000
Excess operating cash provides an excellent means of earning interest
Investment dollars remain liquid for operating purposes
Time and effort of managing cash flow is reduced

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