Trust Custody Services

Presidential Bank offers high quality, full service trust custodianship for a low annual fee.

 

Our comprehensive services allow you to consolidate your investments at one location, saving the time and effort required to track investments held at several mutual fund companies and/or brokerage firms.  By establishing a custody account, you can maintain a single account holding all your investments, tracking all transactions and cost basis information for tax purposes.

 

Our domestic custody capabilities include:

  • Comprehensive Reporting
    Itemized transactions and a complete list of all investments held in your custody account are provided in a detailed monthly statement.  Specialized reports are available upon request.  
  • Record-Keeping
    Records are automatically maintained showing all details of purchase, sale and other security transactions, including acquisition date and cost of the security.  These records itemize all account receipts and disbursements, with amounts and sources or payees.
  • Income Collection
    Dividend and interest payments are automatically deposited to your account on pay date.  You can select the reinvestment option for your income for any portion of your investments.
  • Corporate Actions
    You will be informed in a timely manner of any publicly announced calls, conversions, stock rights offerings, stock splits, mergers and tender offers, to allow you time to make a decision.
  • Asset Security
    Presidential Bank has full responsibility for safeguarding all the investments that are held in your account.  The assets held in a Trust Custody Account are segregated from the Bank’s assets and cannot be accessed to settle any claims against the Bank.
  • Securities Trading
    You can purchase and sell your investments by notifying us either by telephone or through your online account access.  All trades will be directed to the broker of your choice, if you wish, or otherwise the trade order will be directed to low cost institutional trading partners that have been vetted and approved by Presidential Bank.  Securities trades are performed as an accommodation to our customers at our cost, and we do not charge any commission to execute securities trades on your behalf.
  • Cash Management
    Cash that is in your account awaiting your investment decision can be invested on a daily basis in a money market instrument of your choice or the High Yield Trust Money Market investment account.  


Presidential Bank’s Trust Department is a qualified custodian to hold your IRA assets. Presidential’s Trust Department acts as your IRA trustee and provides custody of the assets owned by the IRA, processes all transactions, performs requisite recordkeeping, files necessary reports with the IRS, issues account statements, forwards investor materials received in your behalf, and may help you to understand the rules and regulations pertaining to certain transactions and perform other administrative duties. Our Trust Department staff is trained and experienced and ready to help you get started. Call, today and get started, 301-951-5082.

Last Modifications: 12/21/2016 3:11:31 PM