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Accounts

Farmers Bank has numerous account options to meet your business needs.

Small Business Checking

This is an account designed for our small business customers.

Limitations

You must deposit $100.00 to open this account.

Account Fees

A minimum daily balance of $1,500 is required. If you do not maintain this balance, a monthly service charge of $12.00 will be assessed. In addition, there is a 150 combined item allowance (debits and credits). All items over this limit will be $0.35 each. A $2.00 check imaging fee will be charged per statement cycle for check images. You may contact the bank to discontinue this checking imaging service and fee.

Business Interest Checking

This account pays a competitive rate of interest with a limit of 100 combined items (debits and credits). Interest will be deposited to the account monthly.

Interest Rate Information

This Account is an interest bearing account. The interest rate and annual percentage yield will depend upon the daily balance in the account as shown on the Interest Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account weekly. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be compounded monthly and will be credited to the account monthly.

Balance Information

We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.

Limitations

You must deposit $100.00 to open this account.

Account Fees

A minimum daily balance of $2,500 is required. If you do not maintain this balance, a service charge of $15.00 will be assessed. In addition, there is a 100 combined item limit (debits and credits). All items over this limit will be $0.35 each.

Commercial Analysis Checking

This is an account designed for the business customer.

Limitations

You must deposit $100.00 to open this account.

Account Fees

A maintenance fee of $15.00 will be charged each statement cycle. A $2.00 check imaging fee will be charged per statement cycle for check images. You may contact the bank to discontinue this check imaging service and fee. Additional fees for services are listed on the Fee Schedule.

An earnings allowance is applied to reduce or offset many fees. The earnings allowance is calculated by applying the earnings credit rate to the average collected balance in the account less reserves. The reserve requirement equals 10% of the average balance in the account. The earnings credit rate used to calculate the earnings allowance is determined by us and is subject to change at our discretion.

Business Savings Account

This account is a statement savings account designed for businesses that want to save for future needs. Withdrawals are limited to three per-month. Interest is deposited to the account semi-annually.

Interest Rate Information

This Account is an interest bearing account. The interest rate and annual percentage yield are included in the Interest Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account weekly. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be compounded semi-annually and will be credited to the account semi-annually

Balance Information

We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum average daily balance of $100.00 to obtain the disclosed annual percentage yield.

Limitations

You must deposit $100.00 to open this account. Only three withdrawals are allowed per month. Any withdrawal in excess of three will be assessed a $3.00 service per withdrawal.

Account Fees

A maintenance fee of $4.00 will be imposed every statement cycle if the daily minimum balance for the statement cycle falls below $300.00.
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