• Commercial Checking
  • Business Checking
  • Business Checking Plus
• Commercial Savings
  • Business Savings
  • Venture I Money Market
  • Venture II Money Market

COMMERCIAL CHECKING

Any account which is intended to hold funds belonging to a business, or to pay business expenses or payroll, must be opened as a business account. We offer savings and checking accounts and certificates of deposit for commercial customers.

The types of businesses that are eligible for our business accounts are Corporations, Organizations, Partnerships, Limited Liability Companies (LLCs), Limited Liability Partnerships ( LLPs) and Sole Proprietorships (DBAs).

Farmers State Bank is participating in the FDIC’s Transaction Account Guarantee Program.  Under that program, through December 31,2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account.  Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

Business Checking

(Corporations, Partnerships, LLCs, LLPs)

• Minimum balance of $50.00 to open account
• Unlimited number of checks
• Non-interest bearing account
• No service charges on average balance of $2,500.00 and above
• $15.00 monthly service charge if average balance is below $2,500.00
• Convenient combined statements

Business Checking Plus

(Sole proprietors, unincorporated businesses, organizations, and governmental units)

• Minimum balance of $50.00 to open account
• No minimum balance
• No monthly service charge and no per check fees
• Check safekeeping
• Interest paid on balances over $1,000
• Convenient combined statements

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COMMERCIAL SAVINGS

These accounts are available to corporations, partnerships, LLCs, LLPs, sole proprietors, unincorporated businesses, organizations, and governmental units.

Business Savings

• $100.00 minimum to open account
• Convenient combined statement
• $5.00 monthly fee when minimum daily balance falls below $100
• Preauthorized, automatic or telephone transfers limited to six per month*
• Unlimited over-the-counter withdrawals - no minimum amounts

Venture I Money Market

• Minimum balance of $2,500 to open account
• No checks issued for this account
• Debits are limited to six per month*
• Requires keeping a separate checking account
• Convenient combined statement
• $20.00 monthly fee when average daily balance falls below $2,500

Venture II Money Market

• Minimum balance of $10,000 to open account
• No checks issued for this account
• Debits are limited to 6 per month
• Requires keeping a separate checking account
• Convenient combined statement
• $20.00 monthly fee when average daily balance falls below $10,000

* Transfer and Withdrawal Limitations
Per Regulation D, you may make up to six transfers and/or withdrawals per statement cycle to another account at the bank or to a third party by means of a pre-authorized or automatic transfer or telephonic (including data transmission) agreement, order or instruction. Transfers in excess of these limitations will subject the account to a $20.00 fee for each transfer or withdrawal in excess of this limitation. Violations of this limit on more than an occasional basis may result in the account being transferred to a statement savings account.

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