Paragon Bank, a Division of TowneBank, is a member of the Certificate of Deposit Account Registry Service® (CDARS®), which enables Paragon clients to benefit from FDIC insurance coverage on certificate of deposit funds up to $15 million.
- Funds are deposited at Paragon Bank. Using the CDARS service, the funds are divided into amounts under the FDIC insurance maximum and placed with other CDARS Network banks.
- The process simplifies tracking and managing funds across multiple financial institutions.
- Clients receive a single statement for all funds, no matter which bank within the CDARS Network they may reside.
Please contact us for more details and benefits of the CDARS service.