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Disclosures

Please note: Customers will be notified via statement stuffer or statement message whenever policy changes occur. Changes will also be communicated via our website. Please check back for updates.

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)

Deposit insurance coverage is provided by the Federal Deposit Insurance Company (FDIC). The basic insured amount per depositor is at least $250,000.00. For more information on FDIC insurance, please visit www.fdic.gov.

USA PATRIOT ACT

Customer Identification Requirements

In accordance with Section 326 of the USA Patriot Act, applicants for new accounts are requested to provide current picture identification that verifies identity including name, address and other identifying information.

In some cases, identification will be requested for current account holders if original documentation was not obtained with the opening of the account. In all cases, protection of our customers' identity and confidentiality is our pledge to you.

We proudly support all efforts to protect and maintain the security of our customers and our country.

Business Product Disclosures

Small Business Checking

This is a non-interest bearing account. To open this account, you must deposit a minimum of $100.00. The average daily (collected) balance required to avoid the monthly service charge is $2,500.00. If the average daily (collected) balance for your monthly statement cycle is below $2,500.00, a service charge of $10.00 will be assessed. You will be allowed a certain number of transactions without fees each statement cycle. When you exceed that number, activity charges will be assessed for those items. Please refer to our Business Products for current fees, transaction limits and balance requirements. Itemized imaged statements and imaged checks are sent monthly. An overdraft fee, as set out in the applicable fee schedule, may be assessed to your account for overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic means, as applicable.

Business Checking

This is a non-interest bearing account. To open this account, you must deposit a minimum of $100.00. You will be assessed a monthly service charge and activity charges on your monthly statement cycle date. Please refer to our Business Products for current fees and earnings credit allowance information. Itemized imaged statements and imaged checks are sent monthly. An overdraft fee, as set out in the applicable fee schedule, may be assessed to your account for overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic means, as applicable.

Business Money Market

This is an interest-bearing account. To open this account, you must deposit a minimum of $100.00. Transactions on this account are limited by Federal Regulations. A transaction fee of $10.00 will be charged for each transaction over the Federal Regulations limit. The average daily (collected) balance required to avoid the monthly service charge is $2,000.00. If the average daily (collected) balance for your monthly statement cycle is below $2,000.00, a service charge of $10.00 will be assessed. The minimum daily (collected) balance to obtain the disclosed Annual Percentage Yield is $2,000.00. Itemized imaged statements and imaged checks are sent monthly.

This is a tiered variable rate account with competitive interest rates for each tier. All interest rates are subject to change at the Bank's discretion at any time.

  • Tier One - Less than $10,000,000.00
  • Tier Two - $10,000,000.00 to $19,999,999.99
  • Tier Three - $20,000,000.00+

We reserve the right to require at least seven days written notice prior to withdrawal or transfer of any funds from this account. This is a variable rate account, which means the interest rate and Annual Percentage Yield may change at the Bank's discretion at any time. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account for each day. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks) and will be compounded and credited to the account on statement cycle date. The minimum daily (collected) balance to accrue interest is $2,000.00. Accrued interest will be forfeited if you close your account (draw to a zero balance) before it is credited. Please contact the Bank for the current rate applicable to this account. Average daily balance is determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period.

No more than six transfers may be made by check, draft, debit card, or similar order to third parties. Excessive transactions will cause this account to be changed to a transaction account.

You may make unlimited withdrawals from any ATM on the Star network. An excess foreign ATM fee of $1.00 will be charged for each foreign ATM transaction in excess of ten per month. An overdraft fee, as set out in the applicable fee schedule, may be assessed to your account for overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic means, as applicable.

Business Sweep

This is an interest-bearing account. To open this account, you must deposit a minimum of $100.00. You will be assessed a monthly service charge and activity charges on your monthly statement cycle date. Please refer to our Business Products for current fees and earnings credit allowance information. Itemized image statements and imaged checks are sent monthly.

Business Savings

This is an interest-bearing account. To open this account, you must deposit a minimum of $100.00. The minimum daily (collected) balance required to avoid the monthly service charge and to obtain the disclosed Annual Percentage Yield is $500.00. If the minimum daily (collected) balance for your statement cycle is below $500.00, a service charge of $5.00 will be assessed and no interest will be paid. Transactions on this account are limited by Federal Regulations. A transaction fee of $2.00 will be charged for each debit transaction (ATM withdrawals included) in excess of six per month. You may make unlimited withdrawals from any ATM on the Star network. An overdraft fee of $35.00 may be assessed to your account for overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic means, as applicable. Itemized imaged statements are sent quarterly.

We reserve the right to require at least seven days written notice prior to withdrawal or transfer of any funds from this account. This is a variable rate account, which means the interest rate and Annual Percentage Yield may change at the Bank's discretion at any time. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account for each day. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks) and will be compounded and credited to the account on statement cycle date. Minimum daily collected balance to accrue interest is $500.00. Accrued interest will be forfeited if you close your account (draw to a zero balance) before it is credited. Please contact the Bank for the current rate applicable to this account.

You may make only six preauthorized, automatic, or telephone transfers or withdrawals per statement cycle. Excessive transactions will cause this account to be changed to a transaction account.

Certificate of Deposit (CD)

This is an interest-bearing account. To open this account, you must deposit a minimum of $5,000.00.

The Annual Percentage Yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings. Interest is compounded and credited quarterly unless you request a different frequency or payment type. Interest begins to accrue on the day of your deposit. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. After the account is opened, you may not make deposits into the account until the maturity date. If you withdraw any principal before the maturity date, a penalty as shown on our Early Withdrawal Penalty Disclosure may be imposed. The bank is required by Regulation D to impose an early withdrawal penalty of at least seven days simple interest on amounts withdrawn within the first six days after deposit. Some exceptions may apply. The account will automatically renew at maturity for the same term at the then-current rate. You will have ten (10) calendar days from the maturity date to withdraw funds without being charged a penalty. Interest will not be paid after maturity date. If you purchase a single maturity certificate, the account will not renew automatically and interest will not be paid after the maturity date.

Electronic Services Disclosures (Online Banking, Online Cash Management, and Online Bill Pay)