1st State Bank of Mason City

Savings

Passbook Savings Account

A minimum deposit of $25.00 is required to open a passbook savings account. Your interest rate and annual percentage yield may change at any time. Interest will be compounded daily and credit to your account quarterly. If you close your account before interest is credited you will not receive the accrued interest. Transfers from a Passbook Savings Account to another account or to third parties by preauthorized, automatic, or telephone transfers are limited to six per month with no transfers by check, draft, debit card, or similar order to third parties. A service fee of $ .50 will be charged for each debit transaction in excess of three per month.

Money Market Account

A minimum balance of $2,500.00 is required on Money Market Accounts. Your interest rate and annual percentage yield may change on your account at any time. Interest will be credited to your account monthly. If your account is closed before interest is credited you will not receive the accrued interest. A service of $5.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle. Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per statement cycle with no more than three by check, draft or similar order to third parties. A per item service fee of $2.00 will be charged for each check or preauthorized withdrawal in excess of three during a statement cycle. You will receive a monthly statement on your account.

 

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