business customer on debit card

Business

Business Checking Accounts

Simple Checking

  • $100.00 minimum deposit to open account
  • No minimum balance requirements
  • Free Online & Mobile Banking with easy-to-use apps for Smartphones and other devices
  • Free Mobile Remote Deposit Capture for registered Online Banking users
  • Free Bill Pay Services for registered Online Baking users
  • Free MasterCard debit card
  • Free direct deposit
  • Unlimited check writing
  • No charge for E-Statements ($5.00 monthly for fee paper statement)
  • Free starter pack of basic checks provided upon account opening

 

Business Platinum Plus

  • $1,000 minimum deposit to open account
  • Tiered interest*
    • $2,500 to $24,999.99
    • $25,000 to $49,999.99
    • $50,000 and over
    • *$2,500 minimum balance in the account each day to earn interest
  • Free Online & Mobile Banking including with easy-to-use apps for Smartphones and other devices
  • Free Mobile Remote Deposit Capture for registered Online Banking users
  • Free online statements
  • Free Bill Pay Services for registered Online Banking users
  • Free MasterCard Debit Card
  • Free direct deposit
  • Unlimited check writing
  • Free E-Statements ($5.00 monthly for fee paper statement)
  • 50% discount on safety deposit box
  • Monthly service charge of $15.00 if balance falls below $5,000.00

 

Now Account

  • $1,000.00 minimum to open
  • Must present two forms of ID, one with picture
  • Interest-bearing account, please inquire for current rates
  • Customers will receive their first box of checks FREE (*select styles available)
  • Service Charges
    • $12.00 charge every statement cycle if account balance falls below $1,000.00
    • A withdrawal charge of $2.00 for each withdrawal of any type in excess of 3 during a statement cycle
    • A negative balance charge of $5.00 for each day that account has a negative balance after the 3rd consecutive day of overdraft

Waive of Service Charges for Churches, Public Funds, Senior Citizens (62), Military Personnel, Full- Time Students (12-hour minimum), and Minors.

 

Business Savings

Passbook Savings Account

  • $100.00 minimum deposit to open account
  • Interest compounds and is credited quarterly
  • A service charge fee $10.00 will be imposed every quarter if the balance in the account falls below $100.00 any day of the cycle.
  • Transfers from a savings account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per month with no transfer by check, debit card, or similar order to third parties
  • A withdrawal charge fee of $2.00 will be charged for each withdrawal of any type in excess of three during the month
  • Account closed within 90 days of closing will have a $50.00 fee
  • Free E-Statements ($5.00 quarterly fee for paper statements)

 

Business CD’s

Certificates of Deposit

  • $1,000.00 minimum to open
  • Interest compounded or checks issued monthly, quarterly, or semi-annually
  • Penalty for early withdrawal

* Add .05% for deposits $20,000 – $49,999

* Add .10% for deposits $50,000 and over

Please call for current rates

 

couple signing a paper

Business Loans

Commercial Loan Services

The First State Bank of Olmsted offers a variety of loans to meet your commercial business, or agricultural needs.  We offer competitive rates and flexible terms.  Our lending team consists of local bankers with strong community ties.  We guarantee a timely loan response, with decisions made right here at home!  We invite you to contact one of our loan officers to discuss the best borrowing option for your needs.

 

Agriculture Loans

  • Real Estate
  • Farm Equipment
  • Livestock
  • Operating Line of Credit

 

Main Office     618-742-6205

Bob Reichert

bob.reichert@firststatebank-olmsted.com

Lee Essex

lee.essex@firststatebank-olmsted.com

Our staff is extremely knowledgeable in the agricultural market, call with any questions!

 

We are  very supportive of the businesses in our  community, call to see what we can do for you!

 

Mounds Branch          618-342-6200 

Bruce Mosby

bruce.mosby@firststatebank-olmsted.com

Commercial Loans

  • Real Estate
  • Equipment
  • Inventory
  • Revolving Line of Credit

 

Vienna LPO                 618-658-2211

Steve Waters

steve.waters@firststatebank-olmsted.com