Overview
This Privacy Policy sets forth the policies of Farmers State Bank (the “Bank”), with respect to the use, safeguarding and disclosure of nonpublic personal information collected by the Bank, in order to assure the Bank’s compliance with federal and applicable state laws and regulations concerning privacy of consumer financial information. The terms used in this Policy but not defined in this Policy will have the meanings ascribed to them in the regulations of the FDIC 12 CFR Part 332. We respect the financial privacy of our customers and consumers (customers and consumers hereafter collectively called “customers”). We will comply with laws and regulations designed to secure that privacy, including all federal and applicable state privacy laws and regulations, as well as the Federal Fair Credit Reporting Act to the extent it may apply to our business practices. Each customer’s relationship with us is important, and we want the customer to understand our policies and practices about handling nonpublic personal information. We recognize the customer’s right to privacy and that each customer has the right to expect his or her nonpublic personal information to remain private and secure. We will maintain standards to ensure that each customer’s nonpublic personal information is private and secure at all times.
We want each customer to be aware of the Privacy Policy, which outlines how we safeguard nonpublic personal information.
Scope of Policy
This Policy applies to our relationships with customers who inquire about or obtain products or services from us for personal, family and household purposes.
While this policy does not apply to business accounts, our commercial customers’ information is also very important to us. We also respect the privacy of our commercial customers, and will also take steps to protect their information.
Strict Security Measures
We will establish security standards and procedures to prevent unauthorized access to customer information. We will maintain physical, electronic and procedural safeguards to guard consumer information.
Limited Employee Access
We will establish procedures to limit employee access to information to only those employees with a business reason for accessing such information. We will educate our employees about the importance of confidentiality and customer privacy. We will take appropriate disciplinary measures to enforce employee responsibilities regarding customer information.
Collection of Information
We collect information about customers to:
* Accurately identify them;
* Protect and administer their records, accounts and funds;
* Help us design or improve our products and services;
* Understand our customers’ financial needs;
* Save our customers time when they apply for new products and services;
* Offer quality products and services; and
* Comply with applicable laws and regulations
Sources of Information
* Applications and other forms that customers provide to us (information such as their name, address, social security number, assets, income and investment objectives);
* Our customers’ transactions with us, including deposit and loan balances, overdraft history and payment history;
* Outside sources that assist in the origination of products and services like brokers, dealers, education institutions (such as application information and transaction information);
* Credit reporting agencies and demographic data companies (information such as creditworthiness, credit history and demographic information); and
* Public sources such as federal, state or local records, (information such as mortgage and other lien information).
We will establish procedures so that the financial information we collect is accurate, current, and complete. We will be committed to properly correct any inaccurate information.
The Selective Sharing of Information
We may share information with our affiliates as well as with unaffiliated third parties external to us in the limited circumstances that this Policy describes.
We may disclose information to complete transactions initiated by a customer, when a customer requests or authorizes the disclosure, or if the disclosure is required by law. At times it may become necessary to disclose information to enforce or apply the terms and conditions of an agreement we have with a customer and to protect the rights, property, or safety of Farmers State Bank, our customers, or others. This includes exchanging information with other companies and organizations for fraud protection and credit risk reduction.
Sharing with Affiliates
We will share information with our affiliates that we are permitted to share under the law.
Sharing with Carefully Selected Companies
We may disclose all of the information we collect, as described above, to nonaffiliated third parties, including financial service providers and non-financial companies, with respect to marketing our own products and services, as well as those products or services we offer jointly with other financial institutions. These “marketing partners” include:
* Marketing service providers who market our products and services and products and services of other financial institutions with whom we have joint marketing agreements; and
* Other financial institutions with whom we have entered into an agreement to jointly market financial products or services, such as third-party securities broker-dealers.
We will require strict confidentiality by our marketing partners and limit the use of the information to the purpose for which it was disclosed.
We will also disclose information to nonaffiliated third parties as permitted by law. For example, we will provide information to outside companies to help us perform services for our customers, such as loan servicing, data analytics, bill payment, account aggregation services, e-mail services, mail house services, printing and account statements; to government entities to respond to subpoenas; and to credit reporting agencies.
Former Customers
If a customer ends his or her relationship with us, we will adhere to the information polices and practices described in this policy.
F.S. Bancorp Securities
Securities representatives of the Broker-Dealer conducting securities activities on the premises of the Bank or otherwise through the Bank may execute unsolicited orders for the purchase of securities of F.S. Bancorp but under no circumstances will they make any recommendations regarding the purchase or sale of F.S. Bancorp securities.
Suitability of Investment Sales Products
All securities representatives of the Broker-Dealer shall adhere to the Broker-Dealer’s suitability standards and procedures for obtaining financial information from customers and ensuring the suitability of the investment sales products.
Use of Bank Customer Information
The Bank will disclose bank customer information such as a customer’s creditworthiness and personal characteristics to the Broker-Dealer only with the written consent of the customer. In the absence of express written consent, the bank shall limit its disclosure of bank customer information to the customer’s name, address, the existence of an account, and information solely as to transactions or experiences between the bank and the customer. The Bank shall also comply with all provisions of the Bank’s Privacy Policy in sharing customer information with the Broker-Dealer.
Web Site Privacy Policy
We provide our customers with the highest level of customer service and convenience by continuing to utilize the latest technological innovations. We recognize that privacy and security of personal financial information may also be a concern as a result of using this technology. That is why the safekeeping of your information is a priority for the management and employees of Farmers State Bank. As an online bank, our most important asset is our customers’ trust. As such, privacy and confidentiality is at the forefront of everything we do. Farmers State Bank has a reputation built on a foundation of trust and integrity. Our Internet service is no different.
Information Collection
We recognize and respect your need for privacy and security as you visit our site. When you visit our site to view any pages, read product information, or use our online calculators and tools, you do so without telling us who you are and without revealing any personal information. While we do not collect identifying information about visitors to our site, we do use standard software to collect information for the strict purpose of tracking activity on our site. This allows us to better understand how many people use our site and which pages and features are most popular. The only information we normally collect and store is:* The name of your Internet service provider.
* The web site that referred you to us (if any).
* The date and time the pages were accessed.
* The page or pages you requested.
There are instances where you may elect to provide us with personal information. If you fill out one of our feedback or request forms or send us e-mail, you are transmitting the information that appears to you in the form or the message. This will typically include information like your name, mailing address, e-mail address, the kind of request you are making, and any other information necessary to fulfill your request. You never transmit personally identifying information that you do not enter yourself. This is always your option; this information cannot be collected unless you specifically elect to send it to us. This information is used internally only for the purpose of fulfilling the request or for contacting you directly and is not given or sold to any other organization.
