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Personal Banking

Account Options

Flanagan State Bank offers a wide variety of products created specifically to suit your needs. We offer the conveniences of a large bank in combination with hometown friendliness and service. Since the day we began in 1913, we've grown but we haven't changed...we'll still greet you by name and do whatever we can to meet your needs.


Checking Accounts (non-interest bearing)

If you want fast access to your liquid funds with limited or non-existent monthly fees, then a non-interest bearing Checking Account is the product for you. Your first check order of 150 wallets from our on-site Premier Check Printing, Inc. service is free. You may be eligible for a debit card within 90 days of opening your account or immediately if approved.

Statement Checking

  • $100.00 opening deposit
  • Check, debit card, and online account access 
  • No minimum balance
  • No monthly service charges 
  • Monthly bank statement without check images
    • Requirements
      • Must be 18 years of age or open jointly with an adult.
      • Must meet credit requirements before being issued a debit card. May be subject to a 90 day waiting period. 

Student Checking

  • $100.00 opening deposit
  • Check, debit card, and online account access 
  • No minimum balance
  • No monthly service charges 
  • Monthly bank statement with check images
    • Requirements
      • Must be 18 years of age or open jointly with an adult.
      • Must meet credit requirements before being issued a debit card. May be subject to a 90 day waiting period.
      • Must be a full-time student to qualify. 

Senior Checking

  • $100.00 opening deposit
  • Check, debit card, and online account access 
  • No minimum balance
  • No monthly service charges
  • FREE checks 
  • Monthly bank statement with check images
    • Requirements
      • Must be 62 years of age or older (If opening jointly, only one person has to meet the age requirement).
      • Must meet credit requirements before being issued a debit card. May be subject to a 90 day waiting period. 

Personal Checking

  • $100.00 opening deposit
  • Check, debit card, and online account access
  • Monthly bank statement with check images
    • Requirements
      • Must maintain a minimum balance of $300.00 to avoid a monthly service charge. $3.00 will be charged if the balance falls below $300.00, and $5.00 will be charged if the balance falls below $100.00.
      • Must be 18 years of age or open jointly with an adult.
      • Must meet credit requirements before being issued a debit card. May be subject to a 90 day waiting period.

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Checking Accounts (interest bearing)

N.O.W. Checking
  • $1,000.00 opening deposit
  • Check, debit card, and online account access
  • Interest credited monthly (rate subject to change)
  • Monthly bank statement with check images
    • Requirements
      • Must maintain a minimum balance of $1,000.00 to avoid a monthly service charge. $7.50 will be charged if the balance falls below $1,000.00.
      • Must be 18 years of age or open jointly with an adult.
      • Must meet credit requirements before being issued a debit card. May be subject to a 90 day waiting period.

Super N.O.W. Checking

  • $2,500.00 opening deposit
  • Check, debit card, and online account access
  • Interest credited monthly (rate subject to change)
  • Monthly bank statement with check images
    • Requirements
      • Must maintain a minimum balance of $2,500.00 to avoid a monthly service charge. $2.00 will be charged if the balance falls below $2,500.00, and $7.50 will be charged if the balance falls below $1,000.00.
      • Must be 18 years of age or open jointly with an adult.
      • Must meet credit requirements before being issued a debit card. May be subject to a 90 day waiting period.

***Interest bearing N.O.W. and Super N.O.W. Accounts may not be available in certain instances. Examples of ineligible persons or businesses include, but are not limited to: incorporated individuals or businesses, for-profit partnerships, or trust accounts with beneficial interest held by two or more unrelated parties.***

Current Rates

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Savings & Money Market Accounts

Our Savings and Money Market Accounts are designed for individuals, families, minors, businesses, seniors and other persons who have varied amounts of funds available to invest. Flanagan State Bank offers competitive rates on our interest bearing accounts. Current interest rates may be found online, picked up in-person at any branch, or may be obtained via phone call to one of our customer service representatives. Whether you are saving for your child's education, a wedding, a home, a new car, a vacation, retirement, or just for a rainy day, if you want your money to grow and work for you, these accounts are the right place to start!

Savings

  • $50.00 opening deposit
  • In-person withdrawal and online account access
  • Interest credited semi-annually (rate subject to change)
  • No monthly service charges for minors
  • Quarterly bank statement without images; monthly with ACH activity
  • Six pre-authorized or electronic transfers per month
    • Requirements
      • Must maintain a minimum balance of $50.00 to avoid a monthly service charge. $3.00 will be charged if the balance falls below $50.00.
      • No age requirement exists for this account. If a minor is too young to sign a signature card, the account must be opened as an UTGMA (Uniform Transfer Gifts to Minors Act) or in an adult's name until the minor is able to sign a signature card.

Gold Passbook Savings

  • $1,000.00 opening deposit
  • In-person withdrawal and online account access
  • Interest credited quarterly (rate subject to change)
  • Quarterly bank statement without images; monthly with ACH activity
  • Six per-authorized or electronic transfers per month
    • Requirements
      • Must maintain a minimum balance of $750.00 to avoid a monthly service charge. $3.00 will be charged if the balance falls below $750.00. Minors are not exempt from this service charge.
      • No age requirement exists for this account. If a minor is too young to sign a signature card, the account must be opened as an UTGMA (Uniform Transfer Gifts to Minors Act) or in an adult's name until the minor is able to sign a signature card.

Money Market

  • $2,500.00 opening deposit
  • In-person withdrawal, check, and online account access
  • Interest credited quarterly (rate subject to change
  • Quarterly bank statement without images
  • Limited transactions (six/month)
    • Requirements
      • Must maintain a minimum balance of $1,000.00 to avoid a quarterly service charge. $5.00 will be charged if the balance falls below $1,000.00.
      • Must be 18 years of age or open jointly with an adult.
      • A $1.00 per item charge will be assessed for every item in excess of six transactions (withdrawals, checks, etc.) per month. Continued excess transactions will result in the loss of Money Market status and conversion into a Checking account.

Super Money Market

  • Opening deposits tiered for interest rates at $2,500.00+, $10,000.00+, 25,000.00+, or $50,000.00+
  • In-person withdrawal, check, and online account access
  • Interest credited quarterly (rate subject to change)
  • Quarterly bank statement without images
  • Limited transactions (three/month)
  • Withdrawals or transfers must be made in increments of at least $100.00
    • Requirements
      • Must maintain a minimum balance of $2,500.00 to avoid a quarterly service charge. $2.00 will be charged if the balance falls below $2,500.00, and $7.50 will be charged if the balance falls below $1,000.00.
      • Must be 18 years of age or open jointly with an adult.
      • If the three transaction limit is exceeded, the account will lose its Super Money Market status and be converted into a Money Market or Checking account.

Current Rates

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Health Savings Accounts (HSAs)

HSAs bridge the gap between out-of-pocket expenses and insurance benefits. They allow you to pay your current health expenses through tax-free distributions, and also allow you to save for future qualified medical and retiree health expenses on a tax-free basis with fund rollover year-after-year. Having an HSA will give you the opportunity to become a health care consumer capable of taking advantage of preventative services, using better health care options, and saving on prescription drugs.

HSA

  • $25.00 opening deposit
  • Check, debit card, and online account access
  • No minimum balance
  • No monthly service charges
  • Monthly compounding interest (rate subject to change)
  • Monthly bank statement with check images
    • Requirements
      • Must be 18 years of age or open jointly with an adult.
      • Must meet credit requirements before being issued a debit card. May be subject to a 90 day waiting period.
      • Must complete an HSA enrollment form.
      • Must use an HDHP or High Deductible Health Plan.
      • In addition to the $25.00 opening deposit, a $20.00 set up fee must be paid at account opening.

HSA Service Center

Learn more about HSAs at our HSA Service Center, where you can make decisions about your future HSA, open a new account, or service an existing account. 

Current Rates

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Certificates of Deposit (CDs)

Certificates of Deposit may be purchased for as little as $500.00. Minimum opening deposits are generally tiered at $500.00, $1,000.00, $5,000.00, $10,000.00, or $25,000.00. These insured deposit instruments are designed to provide you with a fixed-rate of return over a set time period. We offer CDs to individuals or organizations who wish to safely invest their funds, while limiting their liquidity for a time period of 30 days or up to 5 years. Penalties apply for early withdrawal of funds. Certificates of Deposit automatically renew upon maturity. A grace period of 10 days is granted after the maturity date to withdraw the funds without penalty.

Interest rates are based on term and may be found online, picked up in-person at any branch, or may be obtained via phone call to one of our customer service representatives. Interest may compound or be dispersed to another account. Rates are subject to change without notice. 

Current Rates

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Safe Deposit Boxes

For a small yearly fee, our safe deposit boxes provide a convenient place to store items that would be difficult or impossible to replace. The boxes are available for access during regular business hours. They are private (only the renter knows what's inside) and secure. They are also resistant to fire, flood, other natural disasters, and theft.

Safe deposit boxes are a good place to keep items of high importance. You should consider placing these items into your box: originals of your insurance policies; family records such as birth, marriage and death certificates; original deeds, titles, mortgages, leases and other contracts; stocks, bonds and certificates of deposit; special jewels or heirlooms; medals; rare stamps, coins and other collectibles.

 Box Size

Annual Rent 

 3 x 5    

 $17.00-$21.00

 3 x 10

 $24.00-$28.00

 5 x 10

 $40.00-$48.00

 10 x 10

 $60.00-$75.00

Rent is assessed yearly in July and may be paid by check or auto withdrawal. Annual rent amount varies at each location. If opened in combination with another deposit account, your first year's rent may be waived.

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Individual Retirement Accounts (IRAs)

Individual Retirement Accounts (IRA) are available to customers who have 'earned' income and have not reached age 70. We offer Traditional, Roth, SEP, and Coverdell (education) IRAs, which can be funded with personal contributions, transfers, or eligible rollovers. Rates can be fixed for 1-5 years or you may prefer a variable rate IRA that can change at any time. Inquire at any branch for more information.

Current Rates

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Opening an Account with Flanagan State Bank

Depending on the account type and the number of account owners, you may want to allocate 15 to 45 minutes of time in which to open your account. A customer service representative or bank officer will assist you in opening your account or accounts. If you are unsure of the type of account you want, they can help you select the right product to meet your needs.

The following items are typically needed to open a personal account:

  • Photo identification such as a driver's license, state-issued or military ID, passport, or alien registration card
  • Social Security Number or Alien Registration Number
  • Proof of address and current contact information
  • Employment information
  • Minimum opening deposit funds for the specific account type

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Account Dormancy

When an account has been inactive for a period of one year, meaning no transactions have occurred over that time, the account falls into dormant status. When this occurs, we will issue you a dormancy notice that informs you of the status change and prompts you to contact us to reactivate your account. Accounts marked dormant are assessed a $1.00 fee each month they remain inactive, and may eventually be closed if no contact is established.

When you sign and return your dormancy notice or if you establish contact by performing a transaction on your account, the last date of contact will be adjusted and the account will be reactivated, unless you desire to take some other form of action. Maintaining personal contact with the bank and keeping your account in active status helps the bank protect you and your account from identity theft. Extended dormancy may also lead to the loss of your funds. Any accounts that remain in dormant status for five years may be deemed "Unclaimed Property" by the State of Illinois. The state can then seize the account and all assets within it.

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Internet Banking and Online Bill Pay

Internet Banking

Internet banking is a service that is included with the opening of any account. It provides you with the flexibility to bank anywhere at any time. You can view bank statements, loan balances, and account histories. You can also transfer funds and make loan payments. There is no charge for this service. You can sign up by clicking on "Enroll Now" under the Online Banking heading on the home page of our web site, www.flanaganstatebank.com. Individuals may select their own username and password; commercial enrollees' passwords will be mailed.

Online Bill Payment

If you open a transaction account you may elect to have the Bill Pay option added to your internet banking. With Bill Payment you can pay bills with no envelopes or stamps, saving money on postage and reducing adverse affects on the environment. Funds for electronic bill payments will be debited from your specified account on the day scheduled for transmission to the receiver. All payments by check require sufficient time for the receiver to process the payment and credit your account. We reccommend that you contact your individual payee(s) for restrictions that may apply. Checks are written from your Bill Pay account and will be debited when the checks clear your account. There is no charge for this service. Let us do the work for you!

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