Business Overdraft Disclosure

Our mission is your success and paying attention to your financial needs is our top priority. We believe it is important for you to use your checking account responsibly and to never intentionally overdraw your account. However, we realize from time to time you may not have sufficient funds in your account to cover transactions presented for payment. As a benefit to our customers, we offer our Business Overdraft service to cover you in the event that you overdraw your checking account. We have adopted this discretionary overdraft service to provide you the highest level of service in managing customer overdrafts.

Business Overdraft

Business Overdraft is a discretionary service we add to your checking account to cover overdrafts, subject to the eligibility criteria explained below. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds, and any discretionary payment of any non-sufficient fund item does not obligate us to pay any additional non-sufficient fund item or to provide prior written notice of our decision to refuse to pay any additional non-sufficient fund item. When we pay overdraft items for you, you will be charged our standard Overdraft Fee, currently $35.00, for each item that is presented. Both the amount of the overdraft item(s) and all applicable fees, including but not limited to Overdraft Fee(s), will be included in the overdraft amount.

Transactions Covered

Transactions covered by Business Overdraft include all checks you have written to third parties, bill payment transactions, pre-authorized automatic debits, and ACH items presented for payment plus ATM withdrawals and everyday debit card transactions.

Eligibility Criteria

Eligibility is based on you managing your account relationship in a responsible manner. We will strive to pay your overdrafts under our Business Overdraft service when your account meets certain discretionary criteria. The criteria may include, but is not limited to any or all of the following and is subject to change without notice:

  • The age of your account.
  • The deposit behavior in your account and any related accounts.
  • The overdraft behavior of your account and any related accounts.
  • The status of any loan or other obligation to us.
  • The status of any legal or administrative orders or levy.
  • The status of any extended hold on your account or any related accounts.

Ineligible accounts include, but are not limited to, money market, repurchase/sweep, government/municipal/public funds, non-profit, IOLTA, fiduciary trust or escrow accounts, dormant accounts, or accounts with an attached line of credit.

Suspension/Removal of Privilege

You may be suspended or removed immediately from the service if:

  • You do not bring your account to a positive balance within a 30 day period;
  • You have an outstanding balance on an overdraft repayment plan;
  • You fail to meet our eligibility criteria; or
  • We believe you are not managing your account relationship in a responsible manner which may harm you or us, even if you meet all the criteria listed above.

Payment Order of Items

The order in which items are presented may affect the total fees you incur. The first items we pay are any checks cashed by our employees or that you have written to us. We then pay any items that were submitted electronically, such as ATM withdrawals, ACH items, any debit card transaction, preauthorized automatic transfers, telephone-initiated transfers and any other electronic transactions. Finally, we pay the remaining items from lowest to highest dollar amount. 

Opt Out

You may never need to take advantage of this service but you may find it useful in the event of a temporary shortfall. If you do not want this service, and prefer to have your non-sufficient fund items returned and/or denied, simply call 844-327-7395 (toll free) or visit any branch office location and we will remove this service from your account.

Additional Information

Your account agreement describes the duties, obligations, and rights of depositors, authorized signatories and the bank with regard to your deposit accounts. That account agreement is incorporated herein for all purposes as if it were set forth verbatim as to matters not directly addressed by this disclosure. Your account agreement and this disclosure shall be construed so as to minimize conflicts between them.

Waiver: The Bank’s forbearance from, or delay in, exercising any of the Bank’s rights, remedies, privileges, or right to insist on your strict performance of any provisions of your account agreement, this Business Overdraft Service disclosure, or any other provision related to your account, shall not be construed to be a current or future waiver of the Bank’s rights, remedies or privileges.

Arbitration: You and the Bank agree that the exclusive remedy and forum for all disputes arising out of Business Overdraft or your or Bank’s performance there under, except for matters you or Bank take to small claims court, is arbitration by an independent arbitrator pursuant to the applicable rules of the American Arbitration Association, except as prohibited by law.

Revised: 08/01/2023