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Funds Availability Disclosure

Our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit.  At that time, you can withdraw the funds in cash or we will use the funds to pay checks that you have written.

For determining the availability of your deposit every day is a business day except Saturdays, Sundays, and federal holidays.  If you make a deposit before 5:00 p.m. Monday thru Friday, on a business day that we are open, we will consider that day to be the day of your deposit.  However, if you make a deposit after 5:00 p.m. Monday thru Friday or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

If you have any questions, be sure to ask us.

Longer Delays May Apply

In some cases, we may delay your ability to withdraw funds beyond the first business day.  Then, the funds will generally be available by the second business day after the day of your deposit.  However, the first $ 100 of your deposit may be available on the first business day.

If we are not going to make all the funds from your deposit available on the first business day, we will notify you at the time you make the deposit.  We will also tell you when the funds will be available.  If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice the day after we receive the deposit.

If you will need the funds from a deposit right away, you should ask us when the funds will be available.

In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:

  • We believe a check you deposit will not be paid.
  • You deposit checks totaling more then $ 5,000 on any one day.
  • You redeposit a check that has been returned unpaid.
  • You have overdrawn your account repeatedly in the last six months.
  • There is an emergency, such as failure of communications or computer equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons and we will tell you when the funds will be available.  They will generally be available no later than the seventh business day after the day of the deposit.

If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account.  Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.  For example, if we cash a $ 100 local check for you, $ 100 of funds already in your account will not be available until the second business day after the day we cashed the check.

If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately, but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us.  The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure. (Deleted some verbiage referring to type of check.)

Special Rules for New Accounts

If you are a new customer, the following special rules will apply during the first 30 days your account is open.

The first $ 5,000 from a deposit of U.S. Treasury checks will be available on the first business day after the day of your deposit.  The excess over $ 5,000 will be available on the ninth business day after the day of your deposit.  Funds from wire transfers into your account will be available on the first business day after we receive the transfer.

Funds from deposits of cash and the first $ 5,000 of a dayís total deposits of cashierís, certified, tellerís, travelerís and state and local government checks will be available on the first business day after the day of the deposit if the deposit meets certain conditions.  For example, the check must be payable to you.  The excess of $ 5,000 will be available on the ninth business day after the day of your deposit.  If you do not make the deposit in person to one of our employees, the first $ 5,000 will not be available until the second business day after the day of your deposit.

Funds from all other check deposits will be available on the seventh business day after the day of your deposit.

Reviewed 06/10