Average Collected Balance

Average ledger balance less float. (Float is time required for items deposited in your account to be paid.) We do give you immediate credit even though actual funding to the bank may require up to three or more days.

Charge Back on Deposited Items

Items deposited to your account that are returned due to insufficient funds, closed accounts. etc.

Credit Allowance on Investable Funds

Your investable balance is multiplied by the average Fed Funds rate for that month. Credit allowance on investable funds is calculated each month and varies according to Fed Funds rate = Earnings Credit Rate

Deposit Items

All checks or items processed into your account.

Base Fee

The monthly account maintenance charge for generating your monthly statement and general operating cost of handling the account.

Investable Funds

Average collected daily balance minus reserve requirement. We invest these funds nightly and give you credit on your investable balance, which is netted against your monthly service fees.

Regular Credits

Cost of processing all items listed on a single deposit slip.

Regular Debits

Cost of processing checks, debits, or items written on your account: checks, debits, drafts, inter-bank debits, etc.

Reserve Requirement

Banking law requires a percentage of your deposits to be held in reserve at a Correspondent Bank or the Federal Reserve.

Code Descriptions

1. Average Collected Balance: Average Ledger Balance less Average Float.

2. Average Float: The average daily deposit float for the Demand Deposit Account. Float is the time required for items deposit in your account to be paid. (We do allow you immediate credit even though actual funding may require up to three days or more.)

3. Average Ledger Balance: The average daily ledger balance of the Demand Deposit Account.

4. Balance Available for Other Services: The Average Collected Balance less Balance Required for Services: (a) if positive, these are balances that exceed the Balance Required for Services; (b) if zero, the Balance Required for Services exceeds your Average Collected Balance and your balances are deficient to cover services rendered.

5. Credit: Investable Balance multiplied by the Earnings Credit Rate.

6. Final Service Charge: The fee required to cover services rendered which were not offset with balances.

7. Investable Balance: Average Collected Balance less Reserve amount. This is the amount of balances available to cover services rendered on the account.

8. Price: The per unit charge for each service.

9. Reserve Amount: The total amount of required reserves for the account.

10. Services Rendered: A description of all the Bank services rendered during the statement period.

11. Total Balance Required for Services: The average daily balance that would have to be maintained in the account to offset the cost of all Bank services rendered during the statement period.

12. Total Calculated Charges: The total of all charges for services during the statement period.

13. Total: Volume of each service multiplied by the Price per unit for that service.

14. Volume: The total number of units of each Bank service used by the account during the statement period