All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

Business Checking Account

This account can handle all your corporate banking needs:

  • $100.00 minimum balance required to open
  • Monthly maintenance fee of $5.00
  • Debit fee $.15 each (includes checks, drafts or advice of charge)
  • All deposits are FREE (includes deposit slips or advice of credit)
  • Transit item fee $.10 each (includes any check or draft not drawn on this bank)
  • Free online banking
  • Free bill pay
  • Free e-statements

Earnings Credit:
An earnings credit based on the average collected balance is applied toward offsetting the maintenance fee and debit fees shown at the bottom of the monthly statement. The average collected balance is obtained by adding the daily collected balances together and then dividing the result by the number of calendar days in the monthly statement period. The average collected balance is multiplied by an earnings credit interest rate. This result is multiplied by the number of days in the statement period and then divided by 365. The earnings credit will be subtracted from the total of the maintenance fee and the debit fees. The Bank will determine an earnings credit interest rate, which is variable and can change at any time. The earnings credit is not applied toward reducing any other fees or service charges assessed on the account. The number of days in the period will be shown. These are calendar days.

Daily Balance for Earnings Credit:
This account's daily balance for earnings credit is based upon the business days when the bank receives credit for non-cash items which you deposit into your account. This is also known as collected funds. TheBank uses collected funds in determining daily balances.