Farmers Bank of Lohman: Truth-In-Savings Disclosure


			Funds Availability Truth in Savings Billing Rights Privacy Policy			Home / Truth in Savings Truth-In-Savings Disclosure Regular Checking Account \| NOW Account \| Super NOW Account \| Savings Account \| Money Market Account \| CDs/IRAs \| Fees \| Common Features Regular Checking Account \| Top of Page Minimum balance to avoid imposition of fees - A service charge of $2.00 will be imposed every statement cycle if the average daily balance for the cycle falls below $200.00. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. This fee will not apply to accounts for nonprofit organizations. Fees: A per item fee of $0.15 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account). This fee will apply if you fail to maintain a $200.00 average daily balance for the monthly statement cycle. This fee will not apply to accounts for nonprofit organizations. NOW Account \| Top of Page Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account every month. Determination of rate - At our discretion, we may change the interest rate on your account. Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month. Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest. Minimum balance to avoid imposition of fees - If you close your account before interest is credited, you will not receive the accrued interest. Minimum balance to avoid imposition of fees - A service charge fee of $4.00 will be imposed each monthly statement cycle if the average daily balance for the monthly statement cycle falls below $500.00. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. This fee will not apply to accounts for nonprofit organizations. Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage yield. Daily balance computation method - 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. Accrual of interest on noncash deposits - Interest begins to accure on the business day you deposit noncash items (for example, checks). Super NOW Account \| Top of Page Rate Information - your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account every week. Determination of rate - At our discretion, we may change the interest rate on your account. Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month. Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest. Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield. Daily balance computation method - 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. Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks). Savings Account \| Top of Page Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account every month. Determination of rate - At our discretion, we may change the interest rate on your account. Compounding and crediting frequency - Interest will be compounded every quarter. Interest will be credited to your account every quarter. Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest. Daily balance computation method - 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. Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks). Money Market Account \| Top of Page Frequency of rate changes - We may change the interest rate on your account at any time. Determination of rate - At our discretion, we may change the interest rate on your account. Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month. Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest. Minimum balance to open the account - You must deposit $1,000.00 for open this account. Minimum balance to avoid imposition of fees - A monthly service charge fee of $10.00 will be imposed every statement cycle if the average daily balance for the statement cycle falls below $2,500.00 The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $2,500.00 in the account each day to obtain the disclosed annual percentage yield. Daily balance computation method - 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. Accrual of Interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks). Transaction Limitations: Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per monthly statement cycle with no more than three by check, draft, debit card or similar order to third parties. Fees: An excess transaction fee of $5.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of six during a monthly statement cycle. CDs/IRAs \| Top of Page Certificate of Deposit with a Maturity of Less than One Year Interest at Maturity Compounding frequency - Interest will not be compounded. Crediting frequency - Interest will be credited to your account at maturity. Daily balance computation method - 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. Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks). Transaction limitations: You may not make any deposits into your account before maturity. You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You cannot withdraw interest from your account before maturity. Early Withdrawal Penalties (a penalty may be imposed for withdrawals before maturity) The fee we may impose will equal three months interest on the amount withdrawn subject to penalty. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan. Automatically renewable time account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity. Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit. You will have ten calendar days after maturity to withdraw the funds without penalty. Certificate of Deposit with a Maturity of Less than One Year Interest Payments Compounding frequency - Interest will not be compounded. Crediting frequency - Interest will be credited to your account semiannually. Daily balance computation method - 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. Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks). Transaction limitations: You may not make any deposits into your account before maturity. You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You cannot withdraw interest from your account before maturity. Early Withdrawal Penalties (a penalty may be imposed for withdrawals before maturity) The fee we may impose will equal three months interest on the amount withdrawn subject to penalty. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan. Automatically renewable time account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity. Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit. You will have ten calendar days after maturity to withdraw the funds without penalty. Certificate of Deposit with a Maturity of One Year or More Interest Compounded Compounding frequency - Interest will be compounded semianually. Crediting frequency - Interest will be credited to your account semiannually. Daily balance computation method - 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. Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks). Transaction limitations: You may not make any deposits into your account before maturity. You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can withdraw interest credited for the current compounding period before maturity without penalty. You can withdraw interest only on the crediting dates. Early Withdrawal Penalties (a penalty may be imposed for withdrawals before maturity) The fee we may impose will equal six months interest on the amount withdrawn subject to penalty. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan. Withdrawal of interest prior to maturity - The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. Automatically renewable time account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity. Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit. You will have ten calendar days after maturity to withdraw the funds without penalty. Certificate of Deposit with a Maturity of One Year or More Interest Payments Compounding frequency - Interest will not be compounded. Crediting frequency - Interest will be credited to your account semiannually. Daily balance computation method - 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. Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks). Transaction limitations: You may not make any deposits into your account before maturity. You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You cannot withdraw interest from your account before maturity. Early Withdrawal Penalties (a penalty may be imposed for withdrawals before maturity) The fee we may impose will equal six months interest on the amount withdrawn subject to penalty. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan. Automatically renewable time account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity. Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit. You will have ten calendar days after maturity to withdraw the funds without penalty. Fees: \| Top of Page A per item fee of $0.10 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account). This fee will apply if a minimum daily balance of $1,000.00 is not maintained for any one day during the monthly statement cycle. This fee will not apply to accounts for nonprofit organizations. Common Features \| Top of Page The following fees may be assessed against your account and the following transaction limitations, if any, apply to your account. Automatic transfer of funds from a savings account to a checking account $1.00 Check printing (Fee depends on style of check ordered) A checking account is dormant if for a period of six months you have made no deposits or withdrawals to the account and the balance is less than $50.00. A savings account is dormant if for a period of twelve months you have made no deposits or withdrawals to the account and the balance is less than $50.00. Dormant account fee (This fee is charged each month) $1.00 Overdraft (each debit or check paid) $15.00 Nonsufficient funds (NSF) item (each) $15.00 Account research $10.00 per hour with a one hour minimum Accounting balancing assistance $10.00 per hour with a one hour minimum Stop payments (all items) $15.00 Hold on accounts $10.00 Garnishments, Levies and Attachments $30.00 Coin Counting (for amounts over $20.00) $5.00 Counter Checks 4 for $1.00 Mailing of statement Amount of Postage We may require not less than 7 days' notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D. Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for each withdrawal. Top of Page You can now access your Farmers Bank of Lohman account from the comfort of home. When you sign up for our online banking program, you'll have instant access to account balances, transfers, loan rates, and much more. Call (573)782-4433 for more details. Call (573) 782-4431 for account information.