Thread Starter: ItNeverEnds CRCM
Title: Re: Large Deposit
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As others have mentioned, CDARs is your best route. He deals with you and they place all the CDs at other banks all under the $250,000 FDIC insurance limits. You can sell one way so that none of it is on your balance sheet or you can have some reciprocal so that you get some funds back through CDARs (you get CDs from other banks looking to place funds). It would be a lot of accounts to manage for him, but it's one way for him to deal with a local bank, but have his deposits placed elsewhere.
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