Regulation CC Funds Availability Disclosure

YOUR ABILITY TO WITHDRAW FUNDS AT PROVIDENT STATE BANK.  Our policy is to make funds from your cash and check deposits available to  you on the first business day after the day we receive your deposit.  However, funds from electronic direct deposit will be available on the day we  receive the deposit. Once the funds are available, you can withdraw them in  cash and/or we will use them to pay checks that you have written. For  determining the availability of your deposits, every day is a business day,  except Saturdays, Sundays and federal holidays. If you make a deposit  before 6:00 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 6:00  p.m. or on a day we are not open, we will consider that the deposit was  made on the next business day we are open.  

Reservation of Right to Hold. In some cases, we will not make all of the  funds that you deposit by check available to you on the first business day  after the day of your deposit. Depending on the type of check that you  deposit, funds may not be available until the fifth business day after the day  of your deposit. The first $200 of your deposit, however, may be available  on the first business day after you make your deposit. If we are not going to  make all of the funds from your deposit available on the first business day,  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 business day after we receive  your deposit. If you need the funds from a deposit right away, you should  ask us when the funds will be available.  

Longer Delays May Apply. We may delay your ability to withdraw funds  deposited by check into your account an additional number of days for these  reasons: 

  • You deposit checks totaling more than $5,000 on any one day.  
  • You redeposit a check that has been returned unpaid.  
  • You have overdrawn your account repeatedly in the last six months. 
  • We believe a check you deposit will not be paid.  
  • There is an emergency, such as 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 seventh business  day after the day of your deposit.   

Holds on Other Funds. If we cash a check for you that is drawn on another  financial institution, we may withhold the availability of a corresponding  amount of funds that are already in your account. Those funds will be  available at the time funds from the check we cashed would have been  available if you had deposited it. If we accept for deposit a check that is  drawn on another financial institution, we may make funds from the deposit  available for withdrawal immediately but delay your availability to withdraw  a corresponding amount of funds that you have on deposit in another  account with us. The funds in the other account would then not be available  for withdrawal until the time periods that are described in this disclosure for  the type of check that you deposited.  

Special Rules for New Accounts. If you are a new customer, the following  special rules apply during the first 30 days your account is open:  

Funds from electronic direct deposits to your account will be available on the  day we receive the deposit. Funds from deposits of cash, wire transfers, and  the first $5,000 of a day's total deposits of cashier's, certified, teller's,  traveler's, and federal, state and local government checks will available on  the first business day after the day of your deposit if the deposit meets  certain conditions. For example, the checks must be payable to you. The  excess over $5,000 will be available on the ninth business day after the day  of your deposit. If your deposit of these checks (other than a U.S. Treasury  check) is not made in person to one of our employees, the first $5,000 will  not be available until the second business day after the day of your deposit.  

Funds from deposits of checks drawn on Provident State Bank will be  available on the first business day after the day of your deposit.  

Funds from all other check deposits will be available not later than the  seventh business day after the day of your deposit.