Disclosure

First American Bank
Elk Grove
1660 Louis Ave
Elk Grove, IL 60007

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 17, 2014.   For current rate information call (847) 952-3700.

48-59 Month CD Disclosure


Rate Information: This account is an interest bearing account. The interest rate on the account is 0.598% with an annual percentage yield of 0.60%.

The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for the term of the account as stated on the Confirmation of Time Deposit. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be compounded monthly and will be credited to the account monthly.

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 $5,000.00 or $1,000.00 for customers who have a new or existing Checking or NOW account in the account each day to obtain the disclosed annual percentage yield.

Limitations: You must deposit $5,000.00 to open this account. Or customers who have a new or existing checking or NOW account may deposit $1,000.00 to open this account. You may not make additional deposits into this account. A $20 fee will be assessed to reissue lost interest checks.

Time Account Information: Your account will mature in the term of the account as stated on the Confirmation of Time Deposit. If you withdraw any of the principal before the maturity date we may impose a penalty of 3% of the amount withdrawn. The annual percentage yield assumes interest compounds monthly and will remain on deposit until maturity. A withdrawal will reduce earnings. This account will automatically renew. You will have 10 calendar days after the maturity date to withdraw funds without penalty.