Line of Credit Sweeps

Why a First Bank Line of Credit Sweep

Add our line of credit sweep¹ feature that links your First Bank checking or money market and line of credit with automatic transfers to maximize your money. First Bank has several sweep options like:

One-way sweeps

Transfers from your First Bank line of credit to your checking when the account balance falls below a set target.

OR

Transfers from the checking when it exceeds a certain balance to pay down any outstanding principal on your First Bank line of credit.

Two-way sweep

Not only transfers from your First Bank line of credit into your checking when it drops below a certain level, but also transfers out of your checking when it exceeds a predetermined amount and uses it to pay down any outstanding principal on your line of credit.

Three-way sweep

Moves money between your First Bank line of credit, checking and money market accounts in a way that you customize for your farm operation to manage your day-to-day cash.

First Bank sweeps put you in control

• Maintain a preferred balance
• Have peace of mind that incoming debits are covered
• Improve cash flow
• Reduce interest expense
• Automate principal payments on your line of credit

Together, Let’s Make Great Things Happen

Families, friends and neighbors partner with us to make great things happen, every day. Meet the First Bank team that’s helping communities thrive in Carmi, Grayville, Lawrenceville and Mount Carmel in Illinois, and Evansville, Haubstadt, Mount Vernon, Poseyville, Princeton and Vincennes in Indiana.