Funds Availability Policy Disclosure

Funds Availability Policy Disclosure

PURPOSE OF THIS DISCLOSURE. Our general policy is to allow you to withdraw funds deposited in an account on the first Business Day after the day of deposit. Funds from electronic direct deposits will be available on the day we receive the deposit. In some cases, we may delay your ability to withdraw funds beyond the first Business Day after the day of deposit. Our complete policy is summarized below.

For purposes of this disclosure, the terms “you”/”your” refer to the customer and the terms “our”/”we”/”us” refer to Lamont Bank of St John. The term “account” includes any demand deposit, negotiable order of withdrawal account, savings deposit, money market account or other non-time deposit account.

DETERMINING THE AVAILABILITY OF YOUR DEPOSIT. The length of the delay varies depending on the type of deposit and is explained below. When we delay your ability to withdraw funds from a deposit, you may not withdraw the funds in cash, and we will not pay checks you have written on your account by using these funds. Even after we have made funds available to you and you have withdrawn the funds. you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

When we delay your ability to withdraw funds, the length of the delay is counted in Business Days from the day of your deposit. The term “Business Day” means any day other than a Saturday, Sunday, or federally declared legal holiday, and the term “Banking Day” means that part of any Business Day on which we are open to the public for carrying on substantially all our banking functions.

If you make a deposit before 2 p.m. on a Business Day that we are open, we will consider that day to be the day of your deposit. However. if you make a deposit after 2 p.m. or on a day that we are not open, we will consider the deposit made on the next Business Day we are open.

AVAILABILITY SCHEDULE

Same Day Availability. Funds from deposits of:

• electronic direct deposits
• cash*
• wire transfers
• U.S. Treasury checks**
• U.S. Postal Service money orders**
• Federal Reserve Bank or Federal Home Loan Bank checks**
• State or Local Government checks**
• Cashier’s, Certified, or Teller’s checks**
• checks drawn on us

will be available on the day of deposit.

Other Check Deposits. Funds from all other check deposits will be available on the first Business Day after the day of your deposit.

* Cash Deposits. If the cash deposits are made in person to an employee of Lamont Bank of St John, then the funds will be made available on the day we receive your deposit. If they are not made in person to an employee, then the funds will be made available no later than the next Business Day after the day of your deposit.

** Check Deposits. Check deposits include U.S. Treasury checks; U.S. Postal Service money orders; Federal Reserve Bank or Federal Home Loan Bank checks; State or Local Government checks; and Cashier’s, Certified. or Teller’s Checks. In order for these check deposits to be made available according to the funds availability schedule above, the checks must be made payable to you and deposited into your account. If any of these conditions are not satisfied, then the funds from these check deposits will be made available no later than the second Business Day after the day of your deposit.

Cash Withdrawal Limitation. We place certain limitations on withdrawals in cash. In general, $225 of a deposit of checks is available for withdrawal in cash on the same day that we receive your deposit. In addition, a total of up to $450 of other funds becoming available on a given day is available for withdrawal in cash at or after 5 p.m. on that day. Any remaining funds will be available for withdrawal in cash on the following Business Day.

For example, if you deposit a check of $700 on a Monday, $225 of the deposit is available to withdraw in cash on Monday. You may withdraw up to another $450 of the deposit in cash at or after 5 p.m. on Tuesday. You may withdraw the rest in cash on Wednesday.

LONGER DELAYS MAY APPLY. In some cases, we will not make all the funds that you deposit by check available to you according to the previously stated availability schedule. Depending on the type of check that you deposit, funds may not be available until the first Business Day after the day of your deposit.

If we are not going to make all the funds from your deposit available to you according to the previously stated availability schedule. we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available.

Funds you deposit by check may be delayed for a longer period under the following circumstances:

• if we believe a check you deposit will not be paid;
• if you deposit checks totaling more than $5,525 on any one day;
• if you redeposit a check that has been returned unpaid;
• if you have overdrawn your account repeatedly in the last six months; or
• if an emergency condition arises that would not enable us to make the funds available to you, such as the failure of computer or communications equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the 10 Business Day after the day of your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available.

SPECIAL RULES FOR NEW ACCOUNTS. If you are a new customer, the following special rules may apply during the first 30 days your account is open.

Same Day Availability. Funds from cash*, wire transfers, and electronic direct deposits made to your account, and checks drawn on us will be available on the day we receive the deposit. In addition, the first $5,525 of a day’s total deposits of:

• U.S. Treasury checks**
• U.S. Postal Service money orders**
• Federal Reserve Bank or Federal Home Loan Bank checks**
• State or Local Government checks**
• Cashier’s, Certified, or Teller’s checks**
• Traveler’s Checks**

will also be available the day of deposit.

Funds Exceeding $5,525. The excess over $5,525 of a day’s total check deposits will be available on the 10 Business Day after the day of your deposit.

Other Check Deposits. Funds from all other check deposits will be available on the IO Business Day after the day of deposit.

*Cash Deposits. If the cash deposits arc made in person to an employee of Lamont Dank of St John, then the funds will be made available on the day we receive your deposit. If the deposits are not made in person to an employee, then the fonds will be made available no later than the second Business Day after the day of your deposit.

** Check Deposits. Check deposits include U.S. Treasury checks; U.S. Postal Service money orders; Federal Reserve Bank or Federal Home Loan Bank checks; State or Local Government checks; Cashier’s, Certified, or Teller’s checks; and Traveler’s checks. In order for these check deposits to be made available according to the funds availability schedule above, the following conditions are required:

U.S. Treasury Checks. These checks must be made payable to you and deposited into yow- account.

U.S. Postal Service Money Orders; Federal Reserve Bank or Federal Home Loan Bank Checks; State or Local Government Checks; Cashier’s, Certified, or Teller’s Checks; or Traveler’s checks. These checks must be made payable to you, made in person to one of our employees. and deposited into your account.

If any of these conditions are not satisfied, then the first $5,525 of a day’s total check deposits will be made available no later than the second Business Day after the day of your deposit.

FOREIGN CHECKS. Checks drawn on financial institutions outside of the U.S. (foreign checks) cannot be processed the same as checks drawn on U.S. financial institutions. Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds from deposits of foreign checks will be delayed for the time it takes us to collect the funds from the financial institutions upon which they are drawn.