Business Banking

Our business banking services are designed with your business needs in mind, no matter what size. Our flexible checking and savings are designed to help you manage and grow your business.

Free Business Checking: Designed to meet the needs of small businesses with no service charges or hidden fees.

Business Checking: Designed for businesses with moderate transaction activity.

Commercial Checking: Designed for businesses with larger activity.

Simply Savings: our new savings with a low minimum balance requirement offers your business the ability to start earning a higher interest rate on your excess funds and the interest rate is tiered based on your account balance (see tiers below).

Business Savings: With a low minimum balance requirement, this account offers your business the ability to start earning interest on your excess funds and the interest rate is tiered based on your account balance.

Business Money Market Savings: This account offers higher interest earning potential on your business funds and with this tiered account the more money you put in, the higher your rate will be.

Business Certificates of Deposit: Our short and long term CDs are available from 3 to 60 months and offer competitive rates for your short or long term savings needs.

For more detailed information, see that charts below.

 

Business Checking

  Free Business Checking Business Checking Commercial Checking Analysis Organization Basic Checking
Opening Deposit $100 $100 $100 $100
*Average Available (collected) Balance for no Monthly service charge *Item charges may still apply None $2,500 N.A. N.A.
Monthly Service Charge None

$7.50

$7.50 $2
Images On Statements

$4 Per Statement Cycle

(Optional)

Included Included Included
Interest Paid No No

Earnings credit based on 80% of the 91 day T-Bill Bank Discount Rate**

No
Special Features/Item Charges $0.25 per item over 150 total debits, checks, credits and deposited items per statement cycle. $0.25 per item over 300 total debits, checks, credits, and deposited items per statement cycle. $0.15 per debit or check, $0.20 per credit, $0.03 per on-us item deposited and $0.08 per transit item deposited. $0.25 per total debits, checks, credits, and deposited items over 150 per statement cycle.

(B2) The Corporate Sweep Checking is a Non-FDIC INSURED short term obligation. The account is securitized by Government Treasury or Agency Bonds. You are required to have a daily statement delivered to you.

* The Average Available (collected) Balance is calculated by adding the available principal balance in the account for each day of the period and dividing that figure by the number of days in the period. The available balance is the account balance, less unpaid deposited items drawn on other financial institutions in the process of collection. For current rate information please E-mail us or contact a Personal Banker at one of our branches.

**Account earns credit which may be applied to item charges. The earning credit will be based on a minimum calculation of 80% of the 91-day T-Bill Bank Discount Rate. The rate may be subject to change monthly on the account. Calculated on the Average Available (collected) Balance during statement cycle, less a balance reserve requirement of 10%

Important Information about Procedures for Opening a New Account: To help the government fight the funding of terrorism and money laundering activities, Federal Law requires all financial institutions to obtain, verify, and record information that identifies each person or business that opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that allows us to identify you. We may also ask to see your driver's license or other identifying documents.

 

Business Savings & Corporate Transaction Package

  (B1)Simply Savings

Business Savings

Business Money Market Savings (B2)Sweep Account Transaction Account
Opening Deposit $100 $100 $10,000 $1,000 $10,000

*Average Available (collected) Balance for no Monthly Service Charge

Special Features/Item Charges may apply

$100

 

Yes

$500

 

Yes

$10,000

 

Yes

N/A

 

Refer to Transaction Account

N/A

 

Yes

Monthly Service Charge

None

$2

$15 None

$20 Emailed

Daily Sweep Confirmation Statement

Images On Statements N/A N/A N/A Included Included
*Average Available (Collected) Balance to Earn Interest Yes
Tiered on Balance
Yes
Tiered on Balance

Yes *Tiered based on balance

$10,000 Minimum

Yes

Based on Tiered Split Balances

N/A
Special Features/Item Charges $2 per withdrawal over 6 per statement cycle (B1) $1 per withdrawal over 3 per statement cycle

$10 per debit over 6 per statement cycle

All service fees are applied to Corporate Transaction Account

Sweep Account and Transaction Account are an account package. Both accounts are required with the package, along with signing a Sweep Account Agreement.

$0.075 per check or deposit, $0.02 per on-us check deposited item, $0.08 per not-on-us(transit) check item deposited.

Sweep Account and Transaction Account are an account package. Both accounts are required with the package, along with signing a Sweep Account Agreement.

(B1)Simply Savings Split Balance Tiers  (For current interest rates please contact a Personal Banker at one of our bank branches)

Tier 1 up to $500.00
Tier 2
$500.01 - $25,000.00
Tier 3
$25,000.01 - $50,000.00
Tier 4
$50,000.01 - $100,000.00
Tier 5 $100,000.01 - $200,000.00
Tier 6 $200,000.01 - $1,000,000.00

(B1) All Simply Savings accounts will incur a $2.00 charge per withdrawal/debit over 6 per statement cycle. A $2.00 Low Balance Service Fee is charged when the Average Available (collected) Balance (AAB)* is below $100.00 for the statement cycle. The interest for this account is based on variable rates for each “Split Balance” tier. Interest will be paid on a Split Balance rate calculation method: When split balance rates are used, the portion of an account’s (Average Available (Collected) Balance (AAB) which is less than or equal to the first split balance amount earns interest at the first rate tier, and so on up to a maximum of six split balance amounts and six split rate tiers (shown above “Simply Savings Split Balance Tiers"). The interest rate and overall Annual Percentage Yield (APY) will depend upon the (AAB) in the account according to the rate tier applied to each portion of the account balance. Only one (1) Simply Savings account is permitted per primary Tax ID/Social Security Number.

(B2) The Corporate Sweep Checking is a Non-FDIC INSURED short term obligation. The account is securitized by Government Treasury or Agency Bonds. You are required to have a daily statement delivered to you.

* The Average Available (collected) Balance is calculated by adding the available principal balance in the account for each day of the period and dividing that figure by the number of days in the period. The available balance is the account balance, less unpaid deposited items drawn on other financial institutions in the process of collection. For current rate information please E-mail us or contact a Personal Banker at one of our branches.

**Account earns credit which may be applied to item charges. The earning credit will be based on a minimum calculation of 80% of the 91-day T-Bill. Calculated on the Average Available (collected) Balance during statement cycle, less a balance reserve requirement of 10%

Important Information about Procedures for Opening a New Account: To help the government fight the funding of terrorism and money laundering activities, Federal Law requires all financial institutions to obtain, verify, and record information that identifies each person or business that opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that allows us to identify you. We may also ask to see your driver's license or other identifying documents.

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