June 17, 2019 thru June 23, 2019

All accounts are variable rate accounts other than fixed rate Certificates of Deposit. Variable rate means that interest rate and Annual Percentage Yield may change at the Bank’s discretion at any time (unless otherwise stated) after the account is opened.

Fees could reduce earnings on the account.

Interest is compounded monthly on all variable rate accounts.

On fixed rate CDs, the rate is fixed for the term. The Annual percentage Yield on fixed rate Certificates of Deposit assumes quarterly compounding of interest and that interest remains on deposit. A withdrawal will reduce earnings.

On Certificates of Deposit, if you withdraw any principal before the maturity date, for any reason other than death of the depositor or declaration of the depositor as mentally incompetent, a penalty as shown below may be imposed.


Early Withdrawal Penalty

7 to 31 Days

All interest that would have been earned for the term of the deposit

32 days thru 1 year

90 days interest

Greater than 1 year to 5 years

180 days interest

5 years or more

365 days interest

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is required by Regulation D to impose an early withdrawal penalty of at least seven days’ simple interest on amounts withdrawn within the first six days after deposit, except upon the death of any owner of the time deposit or when any owner of the time deposit is determined to be legally incompetent by a court or other administrative body of competent jurisdiction.

Certificates of Deposit and Savings Accounts are “transferable only on the records of the institution.”

Refer to our “Products and Services” brochure for additional information.


CALL 314-721-8003