First American Bank
P.O. Box 0794
Elk Grove, IL 60009-0794

This disclosure contains information about terms, fees, and interest rates for some of the accounts we offer.

Interest Rates and Annual Percentage Yields are current as of April 22, 2018.   For current rate information call (847) 952-3700.

Health Savings Account

This account is intended for the purpose of paying medical expenses associated with high deductible health plans. Please check with your employer to confirm eligibiltiy to contribute to an HSA. Please check with your tax advisor to determine the maximum contribution you are allowed to make.

First American Bank is required to report all distributions and contributions to the IRS, including transactions made in error.

Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $0.01 in the account each day to obtain the disclosed annual percentage yield.

Limitations: You must deposit $0.01 to open this account. If you close your account before interest is credited, you will not receive the accrued interest. Accrued interest may be paid when the entire balance of the closed account is transferred to a new First American Bank Account

Account Fees: Monthly paper statement fee: $3.95. Minimum daily or combined average balance of $2,000 must be maintained in a HSA, checking, savings, or money market to avoid the monthly maintenance fee for a paper statement of $3.95.

Within the first 30 days after an account is opened, the primary owner (designated by the first named owner on the signature card or on the statement) must enroll in our Online Banking Service and accept the Online Banking Agreement to receive free electronic statements. If the Online Banking Agreement is not accepted within the first 30 days of account opening your account will be converted to Personal Checking and subject to the Terms and Conditions of Personal Checking. See Schedule of Fees.

An overdraft charge is imposed for overdrafts created by checks, in person withdrawals, ATM withdrawals, or by other electronic means, as applicable. See service fee schedule for complete information. Fees may reduce earnings on this account.

Rate Information: This account is an interest bearing account. The interest rate will be paid at the rate shown for the entire balance in the account .

If the daily balance is:

Interest Rate Paid

Annual Percentage Yield Paid

>= $0.01 and <= $999.99



>= $1,000.00 and <= $4,999.99



>= $5,000.00 and <= $49,999.99



>= $50,000.00 and <= $99,999.99



>= $100,000.00 and <= $999,999.99



The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account at any time. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly. Any interest earned on this account will be reported to the IRS.