First State Bank of The Florida Keys

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CHECKING ACCOUNTS

First State Bank offers Checking Accounts to meet the needs of all kinds of commercial customers, large and small. Statements are issued monthly or at other periods determined by your company's needs.

Minimum opening deposit: $250.

COMMERCIAL CHECKING

First State Bank assesses service charges, if any, for Commercial Checking Accounts on the following basis:

An earnings credit is calculated by applying an earnings credit rate to the positive average daily collected balance less an allowance for the federal 10% reserve requirement.
Fees for services provided include a monthly maintenance charge plus activity fees.
The earnings credit is subtracted from the fees for services provided to determine the charges, if any, to your account.
Accounts with a negative average daily collected balance are charged a rate of 2 percentage points over the Bank's prime rate times the negative daily collected balance in the account.

The earnings credit rate is set by First State Bank based on the 91-day Treasury Bill rate.

	Service Charge
Maintenance Fee	$12 per month
Deposits Credited	$.30 per deposit
Items Paid	$.15 per item
Items Deposited	$.10 per item
FDIC Assessment	$ .0033 per $100 in monthly average ledger balance (subject to change without notice based on the FDIC rate)

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SMALL BUSINESS CHECKING

If your business has a small number of transactions, but wants a bank that's big on service, our Small Business Checking account is just your size.

· Free processing of the first 200 items paid or deposited each month. Items over 200 are charged $.25 each.

· No monthly maintenance fee if minimum daily balance is $2,500 or more or if average daily collected balance is $5,000 or more. Otherwise, the monthly maintenance fee is $15.00.

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BUSINESS NOW CHECKING

Under Federal Law and Regulation, certain businesses and organizations are eligible to open NOW and Super NOW Accounts. Qualifying customers include individuals operating sole proprietorships (not incorporated and not partnerships) and non-profit organizations operated for religious, philanthropic, charitable, educational, fraternal or similar purposes.

Minimum opening deposit: $1,000.

Compounded monthly interest paid on collected balance less the federal 10% reserve requirement.

	Activity Fees
Deposits Credited	$.30 per deposit in excess of 20 per month
Items Paid	$.15 per item in excess of 20 per month
Items Deposited	$.10 per item (first 50 items free if drawn on First State Bank)
Average Collected Balance	Service Charge Assessed
$2,500 or more	None
$0 to $2,499	$12 per month and no interest paid

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BUSINESS SUPER NOW CHECKING

Minimum opening deposit: $1,000.

Compounded monthly interest paid on collected balance less the federal 10% reserve requirement.

	Activity Fees
Deposits Credited	$.30 per deposit in excess of 20 per month
Items Paid	$.15 per item in excess of 20 per month
Items Deposited	$.10 per item (first 50 items free if drawn on First State Bank)
Average Collected Balance	Service Charge Assessed
$7,500 or more	None
$0 to $7,499	$12 per month and no interest paid

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