Community Reinvestment Act Notice
Under the federal Community Reinvestment Act (CRA), the Federal Deposit Insurance Corporation (FDIC) evaluates our record of helping to meet the credit needs of this community consistent with safe and sound operations. The FDIC also takes this record into account when deciding on certain applications submitted by us.
Your involvement is encouraged.
You are entitled to certain information about our operations and our performance under the CRA. You may review today the public section of our most recent CRA evaluation, prepared by the FDIC, and a list of services provided at this branch. You may also have access to the following additional information, which we will make available to you at this branch within five calendar days after you make a request to us: (1) a map showing the assessment area containing this branch, which is the area in which the FDIC evaluates our CRA performance in this community; (2) information about our branches in this assessment area; (3) a list of services we provide at those locations; (4) data on our lending performance in this assessment area; and (5) copies of all written comments received by us that specifically relate to our CRA performance in this assessment area, and any responses we have made to those comments. If we are operating under an approved strategic plan, you may also have access to a copy of the plan.
At least 30 days before the beginning of each quarter, the FDIC publishes a nationwide list of the banks that are scheduled for CRA examination in that quarter. This list is available from the Regional Director, FDIC, 1100 Walnut Street, Suite 2100, Kansas City, MO 64106. You may send written comments about our performance in helping to meet community credit needs to the President Kellen Shebeck, PO Box 247, Underwood, MN 56586 and the FDIC Regional Director. You may also submit comments electronically through the FDIC's Web site at www.fdic.gov/regulations/cra. Your letter, together with any response by us, will be considered by the Federal Deposit Insurance Corporation in evaluating our CRA performance and may be made public.
You may ask to look at any comments received by the FDIC Regional Director. You may also request from the FDIC Regional Director an announcement of our applications covered by the CRA filed with the FDIC. We are an affiliate of Underwood Bancshares, a bank holding company. You may request from the Officer in Charge of Supervision, Federal Reserve Bank of Minneapolis, 90 Hennepin Ave, Minneapolis, MN 55480-0291 an announcement of applications covered by the CRA filed by bank holding companies.
Public Disclosure
COMMUNITY REINVESTMENT ACT
PERFORMANCE EVALUATION
Farmers State Bank of Underwood
Certificate Number: 1017 4
110 Main Street
Underwood, Minnesota 56586
Federal Deposit Insurance Corporation
Division of Depositor and Consumer Protection
Kansas City Regional Office
1100 Walnut Street, Suite 2100
Kansas City, Missouri 64106
This document is an evaluation of this institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operation of the institution. Ibis evaluation is not, nor should it be construed as, an assessment of the financial condition of this institution. The rating assigned to this institution does not represent an analysis, conclusion, or opinion of the federal financial supervisory agency concerning the safety and soundness of this financial institution.
Institution Rating
INSTITUTION'S CRA RATING: This institution is rated Satisfactory.
An institution in this group has a satisfactory record of helping to meet the credit needs of its assessment area, including low- and moderate-income neighborhoods, in a manner consistent with its resources and capabilities.
The following points summarize the bank's Community Reinvestment Act (CRA) performance:
- The loan-to-deposit ratio is reasonable given the institution's size, financial condition, and assessment area credit needs.
- The institution made a majority of its small business, small farm, and home mortgage loans in its assessment area.
- The assessment area does not include any low- or moderate-income geographies, and a review of the Geographic Distribution criterion would not result in meaningful conclusions. Therefore, this criterion was not evaluated.
- The distribution of borrowers reflects reasonable penetration among businesses and farms of different sizes and individuals of different income levels.
- The institution has not received any CRA-related complaints since the previous evaluation; therefore, this criterion did not affect the rating.
Description of Institution
Farmers State Bank of Underwood continues to operate from its main office in Underwood, Minnesota, and maintains branches in Dalton, Fergus Falls and Rothsay, Minnesota. The institution is controlled by Underwood Bancshares, Inc., a one-bank holding company located in Underwood, Minnesota. Farmers State Bank of Underwood received a Satisfactory rating at its previous FDIC Performance Evaluation, dated February 24, 2014, based on Interagency Small Institution Examination Procedures.
The bank's business focus is divided between commercial, agricultural, home mortgage, and consumer lending. Farmers State Bank of Underwood offers additional credit avenues via its participation in government sponsored loan programs through the Farm Service Agency. The bank also maintains several referral arrangements for assisting customers in obtaining home mortgage loans on the secondary market. Farmers State Bank of Underwood also offers basic deposit services including checking and savings accounts and certificates of deposit. Alternative banking services include telebanking, internet and mobile banking, mobile check deposit, and electronic bill pay.
Assets totaled approximately $73,006,000 as of December 31, 2019, and included total loans of $53,872,000. Total deposits were $63,773,000. Examiners did not identify any financial, legal, or other impediments that affect the bank's ability to meet the assessment area's credit needs. The loan portfolio is illustrated in the following table.
Description of Assessment Area
Farmers State Bank of Underwood has designated one assessment area in west central Minnesota, which is comprised of Census Tract 4501 in Douglas County; Census Tract 701 in Grant County; Census Tracts 9603, 9607, 9608, 9609, 9610, 9611, 9612, 9616, 9617 in Otter Tail County; and Census Tract 9501 in Wilkin County.
Economic and Demographic Data
The assessment area is rural in nature and primarily dependent on agriculture and related industries. Bank management stated that the farm economy has remained stable since the previous evaluation. The primary crops grown in the assessment area include soybeans, corn, wheat, alfalfa, and edible beans. Crop yields were average in 2019; however, commodity prices were lower. Agricultural land values and rental rates have remained stable and are relatively strong. Management also stated that off-farm income plays an important role in many farming operations.
Demographic information shows that the population remains similar to prior evaluation data. Large employers in the area include Otter Tail Corporation, county government, and healthcare-- and agriculture-related businesses. Main street businesses are primarily unchanged. There is minimal new business growth in the small towns where the bank operates due to a lack of demand.
For December 2019, the U.S. Bureau of Labor and Statistics reported unemployment rates (not seasonally adjusted) for Douglas, Grant, Otter Tail, and Wilkin counties of 3.9 percent, 5.4 percent, 5.4 percent, and 3.5 percent, respectively. Comparably, the December 2019 unemployment rate for the State of Minnesota was 3 .5 percent and the national average rate was 3 .4 percent. Unemployment rates were generally consistent throughout the evaluation period.
Demographic characteristics of the assessment area and the 2019 median family income ranges for nonmetropolitan Minnesota are illustrated in the tables below.
Competition
Farmers State Bank of Underwood operates in a moderately competitive market for financial services. According to Reports of Condition filed by financial institutions, 19 other banks with deposits ranging between $10.1 million and $136.2 million operate either a main office or a branch office within the assessment area. Of these institutions, Farmers State Bank of Underwood ranked 6th with a 6.2 percent deposit market share. AgCounty Farm Credit Services located in Fergus Falls, Minnesota is also a major competitor for agricultural loans.
Community Contacts
As part of the evaluation process, examiners contact third parties active in the assessment area to assist in identifying the credit needs. This information helps determine whether local financial institutions are responsive to these needs. It also shows what credit opportunities are available.
Examiners reviewed two recent interviews conducted with representatives of community-based organizations within the assessment area. The contacts did not have concerns with area economic conditions. Both contacts indicated that retirees are not leaving the area, while people of all ages continue to purchase or build lake homes resulting in a shortage of affordable housing stock. The lack of affordable housing and childcare options are significant barriers to growing the work force. The contacts indicated that the population is diverse with affluent, working, and middle class individuals, as well as those that would be classified as living in poverty and even homeless. The credit needs in the area vary. There is a need for down payment assistance for home mortgages. Funding is needed for seasonal properties, as well as home mortgages in general. People also finance land for recreational purposes, such as hunting cabins. Individuals living near the lakes purchase many items used for recreation. Therefore, in addition to cars and pickups, financing is requested for boats, ice houses, snowmobiles, jet skis, all-terrain vehicles, and similar items. There is also a need for small business lending; however, in general, local main street businesses do very well, some staying within families for generations. Big box stores are closing in many parts of the nation. Locally, this has affected several big box stores; however, jobs for affected individuals are available as many other businesses are looking for both skilled and unskilled laborers. Tourism dollars that come in during the summer help support the economy of the area. In addition to tourism-related businesses, manufacturing, agriculture, and healthcare also contribute to the local economy.
The contacts stated that the area's financial institutions have good reputations. Neither contact has heard of any concerns with regard to lending and stated that local financial institutions are meeting the area's credit needs.
Credit Needs
Both the community contacts and bank management agree that commercial, agricultural, home mortgage, and consumer financing are needed within the assessment area.
Both the community contacts and bank management agree that commercial, agricultural, home mortgage, and consumer financing are needed within the assessment area.
Scope of Evaluation
General Information
Examiners used Interagency Small Institution Examination Procedures to evaluate Farmers State Bank of Underwood's CRA performance. This evaluation covers the period from the prior CRA evaluation elated February 24, 2014, to the current evaluation dated February 3, 2020. These procedures evaluate an institution's performance according to the Lending Test criteria as detailed in the appendices.
2024
Activities Reviewed
Farmers State Bank of Underwood has a varied lending focus. This conclusion is based on discussions with bank management; information obtained from community contacts; a review of the loan categories reported in the December 31, 2019 Reports of Condition; and the number and dollar volume of loans originated, renewed, and extended during the evaluation period. The Reports of Condition revealed that commercial and agricultural lending continue to comprise the largest portions of the portfolio. The bank also originates a relatively significant amount of home mortgage loans; therefore, examiners reviewed all three primary products during the evaluation. Bank records indicated that the lending focus and product mix generally remained consistent throughout the evaluation period. Given this information, examiners selected 2019, the most recent calendar year, as the review period. This timeframe was considered representative of the bank's performance during the entire evaluation period.
For the Assessment Area Concentration analysis, examiners reviewed all small business, small farm, and home mortgage loans that were originated, extended, or renewed in 2019. During this timeframe, Farmers State Bank of Underwood originated, extended, or renewed 140 small business loans totaling $10,235,000, 167 small farm loans totaling $11,360,000, and 34 home mortgage loans totaling $4,046,000.
To evaluate the Borrower Profile criterion, examiners reviewed statistical random samples of small business and small farm loans that were originated within the bank's assessment area. This analysis included a review of 47 small business loans totaling $4,574,000 and 51 small farm loans totaling $3,301,000. Finally, all 26 home mortgage loans in the assessment area were reviewed, totaling $2,787,000.
D&B data for 2019 provided a standard of comparison for the small business and small farm loans. D&B is a business that maintains a database of information on businesses and farms using a variety of resources including public records, trade references, and surveys. D&B data is used as a general indicator of the local economy and includes information from only those entities that voluntarily report. American Community Survey (ACS) data from 2015 and FFIEC information from 2019 were used as a standard of comparison for home mortgage lending.
The bank's record of originating small business and small farm loans contributed more weight to overall conclusions due to the larger loan volumes when compared to home mortgage lending during the most recent calendar year. In addition, while both the number and dollar volume of loans are presented, examiners emphasized performance by the number of loans because the number of loans is a better indicator of the number of farms and businesses served.
Conclusions on Performance Criteria
LENDING TEST
Farmers State Bank of Underwood demonstrated satisfactory performance under the Lending Test. Loan-to-Deposit Ratio, Assessment Area Concentration, and Borrower Profile performance support this conclusion.
Loan-to-Deposit Ratio
The loan-to-deposit ratio is reasonable given the institution's size, financial condition, and assessment area credit needs. This ratio, calculated from Reports of Condition data, averaged 82.2 percent over the past 24 calendar quarters from March 31, 2014 to December 31, 2019.
The ratio ranged from a high of 87.5 percent as of September 30, 2015, to a low of 76.7 percent as of December 31, 2016. Fluctuations during the review period are primarily due to the seasonal pattern of agricultural lending, which comprises approximately one third of the loan portfolio. The following table shows the institution's performance when compared with similar institutions, selected based on asset size, geographic location, and lending focus.
Assessment Area Concentration
The following table shows that Farmers State Bank of Underwood originated a majority of its small business, small farm, and home mortgage loans within the assessment area.
The following table shows that Farmers State Bank of Underwood originated a majority of its small business, small farm, and home mortgage loans within the assessment area.
Geographic Distribution
The assessment area does not include any low- or moderate-income geographies, and a review of the Geographic Distribution criterion would not result in meaningful conclusions. Therefore, this criterion was not evaluated.
Borrower Profile
The distribution of borrowers reflects reasonable penetration among businesses and farms of different sizes and individuals of different income levels. The bank's reasonable performance of small business, small farm, and home mortgage lending supports this conclusion. Examiners focused on the percentage by number of loans to businesses and farms with gross annual revenues of $1 million or less. They also focused on the percentage by number of home mortgage loans to low- and moderate-income borrowers.
Small Business Loans
The distribution of small business loans reflects reasonable penetration of loans to businesses with gross annual revenues of $1 million or less. Examiners determined that 89 .4 percent of the small business loans within the assessment area were made to businesses with gross annual revenues of $1 million or less, which compares reasonably with the 82.9 percent of businesses in this revenue category reported by D&B.
Small Farm Loans
The distribution of small farm loans reflects reasonable penetration of loans to farms with gross annual revenues of $1 million or less. The institution originated 98.0 percent of small farm loans within the assessment area to farms with gross annual revenues of $1 million or less. This number minors the 98.0 percent of farms in this revenue category reported by D&B.
Home Mortgage Loans
The distribution of home mortgage loans to individuals of different income levels, including low- and moderate-income borrowers, is reasonable. The table below shows that Farmers State Bank of Underwood originated only one home mortgage loan to a low-income borrower in 2019. However, a low-income family in the assessment area, with an income of $34,400 or less, would likely not qualify for a mortgage under conventional underwriting standards, especially considering the median housing value of $156,593. Therefore, the demand and opportunity for lending to low income families are relatively limited. The bank's performance of lending to moderate-income borrowers, at 15 .4 percent, is generally in line with 2015 ACS data. In addition, as described earlier, there is a significant amount of competition in the area for home mortgage loans. As such, the bank's level of lending reflects reasonable performance.
Response to Complaints
The institution has not received any CRA-related complaints since the previous evaluation; therefore, this criterion did not affect the rating.
Discriminatory or Other Illegal Credit Practices Review
Examiners did not identify any evidence of discriminatory or other illegal credit practices inconsistent with helping meet community needs.
Appendices
Small Bank Performance Criteria
Lending Test
- The Lending Test evaluates the bank's record of helping to meet the credit needs of its assessment area(s) by considering the following criteria:
- The bank's loan-to-deposit ratio, adjusted for seasonal variation, and, as appropriate, other lending-related activities, such as loan originations for sale to the secondary markets, community development loans, or qualified investments;
- The percentage of loans, and as appropriate, other lending-related activities located in the bank's assessment area(s);
- The bank's record of lending to and, as appropriate, engaging in other lending-related activities for borrowers of different income levels and businesses and farms of different sizes;
- The geographic distribution of the bank's loans; and
- The bank's record of taking action, if warranted, in response to written complaints about its performance in helping to meet credit needs in its assessment area(s).
Glossary
Aggregate Lending: The number of loans originated and purchased by all reporting lenders in specified income categories as a percentage of the aggregate number of loans originated and purchased by all reporting lenders in the metropolitan area/assessment area.
Area Median Income: The median family income for the MSA, if a person or geography is located in an MSA; or the statewide nonmetropolitan median family income, if a person or geography is located outside an MSA.
Assessment Area: A geographic area delineated by the bank under the requirements of the Community Reinvestment Act.
Census Tract: A small, relatively permanent statistical subdivision of a county or equivalent entity. The primary purpose of census tracts is to provide a stable set of geographic units for the presentation of statistical data. Census tracts generally have a population size between 1,200 and 8,000 people, with an optimum size of 4,000 people. Census tract boundaries generally follow visible and identifiable features, but they may follow nonvisible legal boundaries in some instances. State and county boundaries always are census tract boundaries.
Combined Statistical Area (CSA): A combination of several adjacent metropolitan statistical areas or micropolitan statistical areas or a mix of the two, which are linked by economic ties.
Consumer Loan(s): A loan(s) to one or more individuals for household, family, or other personal expenditures. A consumer loan does not include a home mortgage, small business, or small farm loan. This definition includes the following categories: motor vehicle loans, credit card loans, home equity loans, other secured consumer loans, and other unsecured consumer loans.
Core Based Statistical Area (CBSA): The county or counties or equivalent entities associated with at least one core (urbanized area or urban cluster) of at least 10,000 population, plus adjacent counties having a high degree of social and economic integration with the core as measured through commuting ties with the counties associated with the core. Metropolitan and Micropolitan Statistical Areas are the two categories of CBSAs.
Family: Includes a householder and one or more other persons living in the same household who are related to the householder by birth, marriage, or adoption. The number of family households always equals the number of families; however, a family household may also include non-relatives living with the family. Families are classified by type as either a married-couple family or other family. Other family is further classified into "male householder" (a family with a male householder and no wife present) or "female householder" (a family with a female householder and no husband present).
FFIEC-Estimated Income Data: The Federal Financial Institutions Examination Council (FFIEC) issues annual estimates which update median family income from the metropolitan and nonmetropolitan areas. The FFIEC uses American Community Survey data and factors in information from other sources to arrive at an annual estimate that more closely reflects current economic conditions.
Full-Scope Review: A full-scope review is accomplished when examiners complete all applicable interagency examination procedures for an assessment area. Performance under applicable tests is analyzed considering performance context, quantitative factors ( e.g., geographic distribution, borrower profile, and total number and dollar amount of investments), and qualitative factors ( e.g., innovativeness, complexity, and responsiveness).
Geography: A census tract delineated by the United States Bureau of the Census in the most recent decennial census.
Home Mortgage Disclosure Act (HMDA): The statute that requires certain mortgage lenders that do business or have banking offices in a metropolitan statistical area to file annual summary reports of their mortgage lending activity. The reports include such data as the race, gender, and the income of applicants; the amount of loan requested; and the disposition of the application (approved, denied, and withdrawn).
Home Mortgage Loans: Includes closed-end mortgage loans or open-end line of credits as defined in the HMDA regulation that are not an excluded transaction per the HMDA regulation.
Housing Unit: Includes a house, an apartment, a mobile home, a group of rooms, or a single room that is occupied as separate living quarters.
Limited-Scope Review: A limited-scope review is accomplished when examiners do not complete all applicable interagency examination procedures for an assessment area. Performance under applicable tests is often analyzed using only quantitative factors (e.g., geographic distribution, borrower profile, total number and dollar amount of investments, and branch distribution).
Low-Income: Individual income that is less than 50 percent of the area median income, or a median family income that is less than 50 percent in the case of a geography.
Market Share: The number of loans originated and purchased by the institution as a percentage of the aggregate number of loans originated and purchased by all reporting lenders in the metropolitan area/assessment area.
Median Income: The median income divides the income distribution into two equal parts, one having incomes above the median and other having incomes below the median.
Metropolitan Division (MD): A county or group of counties within a CBSA that contain(s) an urbanized area with a population of at least 2.5 million. A MD is one or more main/secondary counties representing an employment center or centers, plus adjacent counties associated with the main/secondary county or counties through commuting ties.
Metropolitan Statistical Area (MSA): CBSA associated with at least one urbanized area having a population of at least 50,000. The MSA comprises the central county or counties or equivalent entities containing the core, plus adjacent outlying counties having a high degree of social and economic integration with the central county or counties as measured through commuting.
Middle-Income: Individual income that is at least 80 percent and less than 120 percent of the area median income, or a median family income that is at least 80 and less than 120 percent in the case of a geography.
Moderate Income: Individual income that is at least 50 percent and less than 80 percent of the area median income, or a median family income that is at least 50 and less than 80 percent in the case of a geography.
Multifamily: Refers to a residential structure that contains five or more units.
Nonmetropolitan Area (also known as non-MSA): All areas outside of metropolitan areas. The definition of nonmetropolitan area is not consistent with the definition of rural areas. Urban and rural classifications cut across the other hierarchies. For example, there is generally urban and rural territory within metropolitan and nonmetropolitan areas.
Owner-Occupied Units: Includes units occupied by the owner or co-owner, even if the unit has not been fully paid for or is mortgaged.
Rated Area: A rated area is a state or multistate metropolitan area. For an institution with domestic branches in only one state, the institution's CRA rating would be the state rating. If an institution maintains domestic branches in more than one state, the institution will receive a rating for each state in which those branches are located. If an institution maintains domestic branches in two or more states within a multistate metropolitan area, the institution will receive a rating for the multistate metropolitan area.
Rural Area: Territories, populations, and housing units that are not classified as urban.
Small Business Loan: A loan included in "loans to small businesses" as defined in the Consolidated Report of Condition and Income (Call Report). These loans have original amounts of $1 million or less and are either secured by nonfarm nonresidential properties or are classified as commercial and industrial loans.
Small Farm Loan: A loan included in "loans to small farms" as defined in the instructions for preparation of the Consolidated Report of Condition and Income (Call Report). These loans have original amounts of $500,000 or less and are either secured by farmland, including farm residential and other improvements, or are classified as loans to finance agricultural production and other loans to farmers.
Upper-Income: Individual income that is 120 percent or more of the area median income, or a median family income that is 120 percent or more in the case of a geography.
Urban Area: All territories, populations, and housing units in urbanized areas and in places of 2,500 or more persons outside urbanized areas. More specifically, "urban" consists of territory, persons, and housing units in places of 2,500 or more persons incorporated as cities, villages, boroughs (except in Alaska and New York), and towns (except in the New England states, New York, and Wisconsin).
"Urban" excludes the rural portions of "extended cities"; census designated place of 2,500 or more persons; and other territory, incorporated or unincorporated, including in urbanized areas.
Assessment Area Map
Branch Locations
Underwood Branch
110 Main St.
Underwood, MN 56586
110 Main St.
Underwood, MN 56586
Lobby Hours
Monday - Friday: 9:00am - 3:00 pm
Monday - Friday: 9:00am - 3:00 pm
Walk Up
Monday - Friday: 8:00 am - 9:00 am & 3:00 pm - 5:00 pm
Drive Up
Monday - Friday: 8:00 am - 5:00 pm
Monday - Friday: 8:00 am - 5:00 pm
Dalton Branch
105 Main St
Dalton, MN 56324
Lobby Hours
Monday - Friday: 8:00am - 5:00 pm
Walk Up
Monday - Friday: N/A
Drive Up
Monday - Friday: N/A
Rothsay Branch
451 Center St
Rothsay, MN 56579
Lobby Hours
Monday - Friday: 9:00am - 3:00 pm
Walk Up
Monday - Friday: 8:00 am - 9:00 am & 3:00 pm - 5:00 pm
Drive Up
Monday - Friday: 8:00 am - 5:00 pm
Fergus Falls
1114 N Union Ave
1114 N Union Ave
Fergus Falls, MN 56537
Lobby Hours
Monday - Friday: 9:00am - 3:00 pm
Walk Up
Monday - Friday: 8:00 am - 9:00 am & 3:00 pm - 5:00 pm
Drive Up
Monday - Friday: 8:00 am - 5:00 pm
Monday - Friday: 8:00 am - 5:00 pm
List of Services Provided
- Regular Checking
- Rewards Accounts
- Regular Savings Accounts
- Money Market Deposit Accounts
- Certificate of Deposit
- NOW and Super NOW Accounts
- IRA
- Health Savings Accounts
- Safe Deposit Boxes
- ID Theft Monitoring
- Business Interest Checking
- Mobile Banking
- Internet Banking
- Electronic Bill Payment
- Electronic Documents
- Agricultural Real Estate Loans
- Agricultural Operations Loans
- Commercial Loans
- Commercial Real Estate Loans
- Home Purchase Loans
- Home Improvement Loans
- Home Equity Lines of Credit
- Small Business Loans
- Constructions Loans
- Consumer Installment Loans
- Overdraft Protection Lines of Credit
- Remote Deposit Capture
- Remote Deposit
- Debit Cards
Fee Schedule
IMPORTANT ACCOUNT INFORMATION FOR OUR CUSTOMERS
from
FARMERS STATE BANK
COMMON FEATURES
Limits and fees - The following fees may be assessed against your account and the following transaction limitations, if any, apply to your account:
Account Research First hour $25.00, each
Additional hour $20.00
ACH Origination fee for one time ACH and set-up of reoccurring ACH $5.00 each
Account Balancing $25.00 per hour
Bill Pay - Monthly (will only be charged after each month of inactivity) $5.00/mo
Electronic Rush Payment $4.95
2nd Day Delivery $14.95
Overnight Delivery $19.95
Cashier’s Check $5.00
Checking inactivity Charge – Monthly $5.00/mo
All non-minor accounts with no activity within the last 6 months, and a balance of less than $50.00, will incur a monthly
inactivity charge of $5.00 per month.
Copy of bank statement $5.00
Debit Card Replacement Card Fee $15
You may not exceed $500.00 in Point of Sale transactions per day.
You may not exceed $500.00 in cash withdrawals per day.
Deposit Return Item charge $10.00
Fax Outgoing, per page $1.00
ID Theft Protection – Monthly $2.00/mo
Credit Monitoring $4.00/mo
Notary Fee $1.00
Overdraft Charge $25.00 each item/daily
limit $125.00
The overdraft charge applies to overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic
means as applicable.
Photocopies $0.25
Printed Bank Statements : Ages 18-59 $3.00/month
Ready Reserve Annual Fee $25.00
Remote Deposit Limits
10 Checks per day totaling $5,000.00
OR 20 Checks per month totaling $5,000
Return Item Charge $25.00 each time item
presented/daily limit
$125.00
Safety Deposit Boxes – Rothsay
Small (2.75 X 5) $15.00
Medium (2.75 X 10) $20.00
Large (5.25 X 10) $30.00
Safety Deposit Boxes – Underwood
Small (3 X 10) $20.00
Medium (5 X 10) $30.00
Large (10 X 10) $45.00
Savings Inactivity Charge – Monthly $5.00/mo
All non-minor accounts with no activity within the last 6 months, and a balance of less than $50.00, will incur a monthly
inactivity charge of $5.00 per month.
Service Fee for Online Charitable Donations $1.99
Stop Payments $15.00
Teller Services $1.00
for transactions or inquiries available through internet/mobile banking systems
Wire Transfers
Outgoing $15.00
Incoming $15.00
International $25.00
Loan-to-Deposit Ratio
2024
Quarter 1 - 80.70%
Quarter 2 - 83.35%
Quarter 3 - 79.86%
Quarter 4 - 80.03%
2023
Quarter 1 - 73.25%
Quarter 2 - 80.06%
Quarter 3 - 80.30%
Quarter 4 - 82.64%