Community Reinvestment Act Notices
Under the Federal Community Reinvestment Act (CRA), the Federal Deposit Insurance Corporation (FDIC) evaluates our record of helping to meet the credit needs of this community consistent with safe and sound operations. The FDIC also takes this record into account when deciding on certain applications submitted by us.
Your involvement is encouraged.
You are entitled to certain information about our operations and our performance under the CRA. You may review today the public section of our most recent CRA evaluation, prepared by the FDIC, and a list of services provided at this branch. You may also have access to the following additional information, which we will make available to you at this branch within five calendar days after you make a request to us: (1) a map showing the assessment area containing this branch, which is the area in which the FDIC evaluates our CRA performance in this community; (2) information about our branches in this assessment area; (3) a list of services we provide at those locations; (4) data on our lending performance in this assessment area; and (5) copies of all written comments received by us that specifically relate to our CRA performance in this assessment area, and any responses we have made to those comments. If we are operating under an approved strategic plan, you may also have access to a copy of the plan.
If you would like to review information about our CRA performance in other communities served by us, the public file for our entire bank is available at Southern Michigan Bank & Trust, 51 West Pearl Street, Coldwater, MI 49036. At least 30 days before the beginning of each quarter, the FDIC publishes a nationwide list of the banks that are scheduled for CRA examination in that quarter. This list is available from Regional Manager, Division of Supervision and Consumer Protection (DSC), FDIC, 500 West Monroe Street, Suite 3600, Chicago, IL 60661. You may send written comments about our performance in helping to meet community credit needs to Kurt Miller, Southern Michigan Bank & Trust, 51 West Pearl Street, Coldwater, MI 49036 and the FDIC Regional Manager. Your letter, together with any response by us, will be considered by the FDIC in evaluating our CRA performance and may be made public.
You may ask to look at any comments received by the FDIC Regional Manager. You may also request from the FDIC Regional Manager an announcement of our applications covered by the CRA filed with the FDIC. We are an affiliate of Southern Michigan Bancorp, Inc. a bank holding company. You may request from Applications Officer, Federal Reserve Bank of Chicago, 230 South LaSalle, Chicago, IL 60604 an announcement of applications covered by the CRA filed by bank holding companies.
Funds Availability Disclosure
This policy statement applies to transaction accounts.
Our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.
Please remember that even after we have made funds available to you, and you have withdrawn funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit to an in-person employee at any of our offices before 5:00 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 these cut-off times or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
If you make a deposit at an ATM before 3:00 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 at an ATM after 3:00 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.
If you make a deposit through mobile deposit before 5:30 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 through mobile deposit after 5:30 P.M. or on a day we are not open, we will consider that deposit was made on the next business day we are open.
If you make a deposit through an interactive teller machine assisted by a teller before 7:00 P.M. on a business day that we are open, we will consider that day to be the day of your deposit.
If we cash a check for you that is drawn on another bank, 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 bank, 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 elsewhere in this disclosure for the type of check that you deposited.
LONGER DELAYS MAY APPLY
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 second business day after the day of your deposit; However, the first $225 of your deposits will be available on the first business day after we receive your deposit.
If we are not going to make all of the funds from your deposit available on the first business day after we receive your deposit, 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.
In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
- We believe a check you deposit will not be paid.
- You deposit checks totaling more than $5,525 on any one day.
- You redeposit a check that has been returned unpaid.
- You have overdrawn your account repeatedly in the last six months.
- There is an emergency, such as failure of communication or computer 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.
SPECIAL RULES FOR NEW ACCOUNTS
If you are a new customer, the following special rules will apply during the first 30 days your account is open:
Funds from deposits of cash, wire transfers, and the first $5,525 of a day's total deposits for cashier's, certified, teller's, travelers, and federal, state and local government checks will be 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 (and you may have to use a special deposit slip). The excess over $5,525 will be available on the ninth business day after the day of your deposit.
If your deposit of these checks (other than U.S. Treasury check) is not made in person to one of our employees, the first $5,300 will not be available until the second business day after the day of your deposit.
Funds from any other check deposits will be available on the eleventh business day after the day of your deposit.
DEPOSITS AT AUTOMATED TELLER MACHINES
Funds from deposits (cash or check) made at Automated Teller Machines (ATMs) we do not own or operate will be made available on the second business day after deposit. This rule does not apply at ATMs that we own or operate.
All ATMs that we own or operate are identified as our machines.
The HMDA data about our residential mortgage lending are available for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at this office regarding the locations where HMDA data may be inspected. For data covering years 2017 and beyond, the HMDA data including ethnicity, race, sex, age and income will be available online at the Consumer Financial Protection Bureau’s Web site (www.consumerfinance.gov/HMDA). HMDA data for many other financial institutions are also available at this website..
In accordance with Section 326 of the USA Patriot Act signed October 26, 2001, Southern Michigan Bank & Trust is required to obtain a copy of the documents used in identifying our new account customers and in identifying signatory individuals added to an existing or new account. In some cases, identification will be requested for those individuals banking with the Bank prior to the effective date of the customer identification requirements because original documentation was not obtained with the opening of the account, or the Bank is unable to form a reasonable belief that it knows the true identity of the existing customer. In all cases protection of our customer’s identity and confidentiality is Southern Michigan Bank & Trust pledge to you.
Southern Michigan Bank & Trust (SMB&T) may provide access to information, products or services offered on websites that are owned or operated by other companies ("third party websites"). We provide this access through the use of hyperlinks that automatically move you from a SMB&T website to the third party site.
While we do our best to provide you with helpful, trustworthy resources, SMB&T cannot endorse, approve or guarantee information, products, services or recommendations provided at a third party website. Because we may not always know when information on a linked site changes, SMB&T is not responsible for the content or accuracy of any third party website. SMB&T shall not be responsible for any loss or damage of any sort resulting from the use of a link on its websites nor will it be liable for any failure of products or services advertised or provided on these linked sites.
Here are some tips to help you tell if you have left the SMB&T website:
- Instead of a SMB&T address, the URL of the linked website appears in the location box (or address field) of your web browser.
- The linked website is shown in a new browser window. The appearance of the linked site, including its colors and graphic design, is significantly different from the SMB&T site.
- The linked site or page does not appear in a new browser, but you find one or more of the following:
- The phrase "A SMB&T linked site" beneath the SMB&T logo.
- The logo of a different company in the upper right hand corner or other prominent location on the linked website, along with the words "Powered by", "Brought to you by", or "Provided by".
- The layout and content of the navigation tools on the left-hand side of the linked site or in the header at the top of the new webpage are different from SMB&T’s navigation.
- The first navigation link refers to a description of the company that sponsors the website. It may be titled "About (Third Party’s Name)".
- Information in the footer at the bottom of the webpage contains information about a company other than SMB&T.
This website has been established by the Bank for the sole purpose of conveying information about the Bank’s products and services and to allow communication between the Bank and its customers. Information that appears on this website should be considered an advertisement. Nothing contained in any page on this site takes the place of the bank’s agreements and disclosures that govern its products and services. If any information on the site conflicts with that in the bank’s agreements and disclosures, the agreements and disclosures will control.
From time to time the Bank may place links to other websites on this page. The Bank has no control over any other website and is not responsible for the content on any site other than this one. Users assume all responsibility when they go to other sites via the links on this website.
The information and materials contained in this website are owned by the Bank or by others, as applicable. No material may be copied, displayed, transmitted, distributed, framed, sold, stored for use, downloaded, or otherwise reproduced except as permitted by law.
The Bank makes no warranties of any kind regarding the products and services advertised on this site. The Bank will use reasonable efforts to ensure that all information displayed is accurate; however, the Bank expressly disclaims any representation and warranty, express and implied, including, without limitation, warranties of merchantability, fitness for a particular purpose, suitability, and the ability to use the site without contracting a computer virus. The Bank is not responsible for any loss, damage, expense, or penalty (either in tort, contract, or otherwise), including direct, indirect, consequential and incidental damages, that result from the access of or use of this site. This limitation includes, but is not limited to the omission of information, the failure of equipment, the delay or inability to receive or transmit information, the delay or inability to print information, the transmission of any computer virus, or the transmission of any other malicious or disabling code or procedure. This limitation applies even if the Bank has been informed of the possibility of such loss or damage.
This agreement and the use of this website are governed by the laws of the state of Michigan.