Suncoast Capital Group focuses primarily on providing liquidity to financial institutions who need deposits as well as providing institutional and retail buyers of CDs access to a simple one-step approach to building a high yielding portfolio of FDIC insured CDs.
Financial Institutions Seeking Deposits
Although most financial institutions maintain a local deposit base, at times sudden increased loan demand or other unforeseen circumstances arise in which it becomes necessary to take in new money quickly and without disrupting local market pricing.
By issuing CDs through Suncoast Capital Group, a financial institution in need of deposits can add to its stable deposit base in one lump sum with no advertising cost and, most importantly, we can custom tailor liquidity solutions to suit your specific needs whether it be short term funding or long term funding by issuing CDs of five years or more. It is an efficient way for a financial institution to raise deposits in order to fill their specific needs in very timely and cost efficient manner.
Institutional and Retail Investors
Given the sheer number of federally insured financial institutions nationwide, finding the best rates available can be a tedious and time consuming process for today’s institutional and retail investors. Suncoast Capital Group saves our clients time and money by doing all the searching and negotiating for them. We maintain an inventory of CDs which is refreshed daily with new rates and terms. These resources allow our clients to build a large portfolio of FDIC insured CDs at the best rates available and the convenience of having them all in one place, Peninsula Bank, the custodian bank for all CDs purchased through Suncoast.
In addition, we offer our clients the simplicity and convenience of providing one simple interest payment per month, regardless of how many CDs are in their portfolios. This greatly simplifies tracking and posting interest payments and makes working with auditors effortless since all of the CDs are safe-kept in one place rather than scattered at various banks throughout the country.
Our clients have the peace of mind of knowing that their CD investments are FDIC insured and that the custodian, Peninsula Bank, is itself an FDIC insured institution which has successfully completed a SAS-70 audit of its custody operations. The best part is there are absolutely no fees to pay for any CD purchased through Suncoast. There are no brokerage fees or wire in/out fees.