NBID Surpasses 500 Banks
NBID Surpasses 500 Member Banks Across the United States
The National Bank InterDeposit Company (NBID) today announced it has surpassed 500 member banks across the United States. The pace at which banks continue to join NBID emphasizes the accelerating support for bank-driven reciprocal deposit infrastructure. In less than one year, NBID has grown from a concept to one of the nation's largest reciprocal deposit networks, now connecting over 500 banks across the US with access to expanded FDIC insurance options for their depositors.
The 500-bank milestone represents more than a number. It reflects a structural shift in how community and regional banks are approaching deposit management. Banks of all sizes, from $200 million community institutions to $100+ billion super regionals, are turning to NBID to take advantage of the key benefits of being an NBID member bank.
Key Benefits of NBID Membership
"What sets NBID apart is that the network is bank-driven. The infrastructure exists to serve the institutions in it, not the other way around. Byline Bank joined because we wanted a greater sense of upside and alignment over our deposit infrastructure and to take advantage of the favorable economics. The rapid growth to 500 institutions really shows the excitement and need that community and regional banks have for NBID in the marketplace."
Alberto Paracchini, President and Chief Executive Officer, Byline Bank
The network has grown steadily through peer referrals and direct outreach, a reflection of the trust the banking community places in a model that keeps deposits bank-managed. Most recently, NBID launched a dedicated section on its website to share success stories from network members of all sizes across the country, starting with OceanFirst and TransPecos.
Banks and representatives interested in learning more about NBID and its services can reach out to NBID at contact@nbid.com.
About NBID
NBID was formed by a coalition of banks, industry leaders, and operating partners to ensure that banks have ownership, oversight, and alignment over their critical reciprocal deposit infrastructure. NBID provides deposit network services to its member banks, including reciprocal deposits, deposit sweeping, and deposit funding. Through NBID's deposit network, banks can provide additional security to attract and retain large-value clients, source funding on demand, and manage balance sheet size.
NBID LLC is not a bank. Deposit insurance covers the failure of insured institutions, not NBID. Deposits are placed at FDIC-insured network institutions and are eligible for pass-through insurance up to $250,000 per institution. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. A list of participating banks appears at https://www.nbid.com/bank-list.
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