Definitions of Commercial Business Account Charges and Terms
- Average Ledger Balance
- Average ending daily balance for the calendar month.
- Average Collected Balance
- Average ledger balance minus uncollected funds.
- Uncollected Funds
- Deposited funds that the bank was unable to use due to the time requirement of the clearing and collection process.
- Earnings Credit Allowance
- It is used as an offset to any activity charges on your account for the month.
- FDIC Assessment
- A variable rate that will change as the FDIC changes its insurance rate for deposits.
- Investable Balance
- The funds amount that are available to earn credits to offset the activity charges.
- Reserves
- Federal Law Requires that a percentage of all funds on deposit must be held in reserve. The bank is unable to utilize these funds. The reserves are computed at 10% of the collected balance.
- **Note
- If the Total Cost Calculation results in a number less than the Earnings Credit Allowance there is not a service charge.
| Night Depository Services | No Charge |
| Zipper Bags | $3.00 |
| Locked Zipper Bags | $25.00 |
| Night Depository Drop Keys(replacements) | $1.00 |
| Return Item Fee | $2.00 |