Deposits
FIRST STATE BANK offers a Business Checking Account designed to fit YOUR needs…whether you have a small business with just a few transactions or a large corporation processing thousands of transactions each month.
First State Bank is committed to providing our customers the highest quality of personalized service using the latest technologies available.
REGULAR BUSINESS ACCOUNT
| Account Maintenance |
$3.00 per month |
| Checks/Debits |
$0.15 per item over 5 |
| Checks Deposited |
|
| On Us |
No Charge |
| Clearing |
$0.03 per item |
| Transit |
$0.08 per item |
An earnings credit is used to offset a portion of the service charges. Please ask for the current earnings credit rate.
BUSINESS MONEY MARKET ACCOUNT*
Six third-party payment or per-authorized transfers allowed per month/statement cycle (of which three can be by check).
- $2.00 for each debit item over six
- $6.00 per statement cycle if balance falls below $800.00
*Variable Interest Rate, subject to change at any time, paid on the collected balance—compounded each statement cycle.
BUSINESS ACCOUNTS ON ANALYSIS
For business customers requiring special services or high volume accounts, we
use an analysis system to determine the service charge, if any. Business
accounts established on the analysis system receive a monthly analysis statement
detailing the activity charges and the earnings credit generated on the account.
Following is an analysis sample:
ACTIVITY SUMMARY:
| Activity Description |
Number of Units |
Unit Price |
Total Cost |
| Deposits/Credits |
15 |
.10 |
$1.50 |
| Checks/Debits |
50 |
.15 |
7.50 |
| Deposited Items |
|
|
|
| On Us |
25 |
.02 |
.50 |
| Clearing |
40 |
.03 |
1.50 |
| Transit |
20 |
.08 |
1.60 |
| FDIC Assessment |
|
|
1.44 |
| Monthly Maintenance |
|
|
3.00 |
| Total Activity Charge |
|
|
$16.74 |
| Balance Information |
|
|
|
| Average Ledger Balance |
|
|
$15,000 |
| Average Float |
|
|
-2,500 |
| Average Available Balance |
|
|
$12,500 |
| |
|
|
|
| Earnings Credit Summary |
|
|
$9.38 |
| Less Activity Charges |
|
|
-16.74 |
| Net Analysis (Service Charge) |
|
|
$7.36 |
* At current earnings credit rate see definitions.
HISTORY ANALYSIS SYSTEM
This schedule details standard services available and fees applicable to Business Accounts on analysis. If your business requires any special services, please inquire. We strive to fit services to your needs.
ACCOUNT ACTIVITY SERVICES
| Account Maintenance |
$3.00 per month |
| Checks/Credits |
$0.10 each |
| Checks/Debits |
$0.15 each |
| Deposited Items |
|
| On Us |
No Charge |
| Clearing |
$0.03 per item |
| Transit |
$0.08 per item |
| Food Stamps |
$0.01 per item |
| Internal Transfers |
$2.00 each |
| Deposited Checks Returned |
$2.00 each |
| Daily Balance Reporting |
$30.00 per month |
| Micr encoding of routing number and or account number on
items deposited |
$0.025 each |
OTHER ANAYSIS FACTORS AND DEFINITIONS
- Average Ledger Balance—The sum of the daily balance in the account, divided by the number of days in the month.
- Average Float—When a check is deposited to an account, it takes 1 to 2 days to collect the amount of the check from the institution it was drawn on. The Average Float is the daily average of the amount of these checks in process of collection.
- Average Available Balance—The Average Ledger Balance less Average Float
- Reserve Requirement—The Federal Reserve requires a percentage of all deposits be held in reserve. The amount held in reserve is not available for investment by the bank.
- Investable Balance—The Average Available Balance less Reserve Requirement. The Investable Balance represents the portion of an account’s balance that is available for the Bank to invest.
- Earnings Credit—The Earnings Credit is a non-cash credit calculated using the Investable Balance and the current Earnings Credit Rate. The Earnings Credit reduces the activity charge.
- Earnings Credit Rate—The Earnings Credit Rate is indexed to the prior month’s average 91-day Treasury bill auction rate.
- Negative Earnings Credit Rate—Negative Earnings Credit Rate is indexed to the Earnings Credit Rate and is assessed on days when the Average Balance is negative
INTEREST BEARING BUSINESS ACCOUNT*
Sole Proprietorships and certain non-profit organizations are eligible for a Super N.O.W. Business Account. Ask our new account representative if your account qualifies. (Corporations, Limited Liability Companies and Partnerships are prohibited by Federal Regulations from qualifying for a N.O.W. Account.)
| Account Maintenance |
$6.00 per month |
| Checks/Debits |
$0.15 per item over 5 |
| Checks Deposited |
|
| On Us |
No Charge |
| Clearing |
$0.03 per item |
| Transit |
$0.08 per item |
*Variable Interest Rate, subject to change at any time, paid on the collected balance—compounded each statement cycle.
