
Public Funds Hybrid Checking is ideal for Ohio governmental entities, municipalities, and public fund organizations with higher balances and who are required to fully collateralize all deposits. This integrated account seamlessly blends the capabilities of an analyzed checking account with the ability to earn interest. It ensures every dollar on deposit in your checking account is working to compensate the bank for services provided or earn interest. All public funds accounts at Signature Bank are collateralized in accordance with the Ohio Revised Code, specifically ORC Section 135.18, which outlines the requirements for securing public deposits through eligible collateral to ensure the safety of public funds.