First International Bank & Trust
HIGHER LEARNING FUND
TRUTH IN SAVINGS DISCLOSURE

This disclosure contains the rules which govern your deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular.

The current interest rate and annual percentage yield for this account may be obtained by calling us at 1-800-359-8092.

VARIABLE RATE:
The interest rate for your account is a variable rate. Your interest rate and annual percentage yield may change.

Determination of rate: The interest rate for your account will be equal to the one(1) year constant maturity treasury bill rate.

Frequency of rate change: We may change the interest rate on your account each calendar quarter.

Compounding and Crediting: Interest will be compounded each calendar quarter. Interest will be credited to your account each calendar quarter.

Withdrawal of Interest Before Maturity. The annual percentage yield assumes that interest remains on deposit until maturity. A withdrawal of interest will reduce earnings.

Effect on Closing an Account. If you close your account before interest is credited, you will receive the accrued interest.

Minimum Balance Requirements: You must deposit at least $100.00 to open this account. You must maintain a minimum balance of $100.00 in the account each day to obtain the disclosed annual percentage yield.

Balance Computation Method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The period we use is calendar quarter.

Accrual of interest on non-cash deposits Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items, for example, checks.

Maturity Date: Maturity date based on date of opening and July of graduation year from high school. The term varies depending on when the account is opened.

Time Deposit Withdrawal Limitations: You may make withdrawals of principal from your account before maturity only if we agree at the time of the withdrawal. You cannot withdraw interest from your account before maturity.

Early Withdrawal Penalty: A penalty may be imposed for withdrawals before maturity. The penalty will be an amount equal to twelve month's interest on the balance in the account on the date of withdrawal plus a $25.00 administrative fee. 

The interest rate we will use to calculate the interest forfeiture will be the simple interest rate in effect on the date of early withdrawal.

We will charge the penalty first against any interest then in the account, and any excess will be deducted from the amount you withdraw.

In certain circumstance, such as the death or incompetence of an account owner, the law permits, or in some cases requires, the waiver of the early withdrawl penalty. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.

Additions to Account: You may make unlimited deposits into your account.

Renewal Policy: This account will not renew automatically at maturity. If you do not renew the account, interest will continue to accrue for 999 days at the regular savings rate in affect at the time of account opening.
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First International Bank & Trust © 2014
100 North Main
Watford City, North Dakota 58854
1-800-359-8092 webmaster@firstintlbank.com
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