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 20, 2014.   For current rate information call (847) 952-3700.

Student Checking


Limitations: You must deposit $50.00 to open this account. Under 18 years of age, parent or guardian must be a joint owner on the account. Proof of student status required. You will continue to be eligible for this account through your 23rd birthday. At that time, your account will be subject to a $7.95 monthly fee in addition to the fees in the Service Fee Schedule. New Checking customers only. Customer cannot have been paid a bonus related to a previous First American Bank account promotion. To qualify for the bonus, the following requirement must be met: 10 deposit/withdrawal transactions are made within the second statement cycle. Requires normal account activity including paying bills and normal deposit activity. Bonus amount will be reported to the IRS.

Account Fees: No minimum balance required. Monthly service fee and paper statement fee waived until age 23. The following features apply to this account: No charge for e-Statements. Paper statement fee is $3.95; Unlimited Check Writing: Free; Optional STAR/Cirrus services available: see Schedule of Fees; Optional Check Images - Front: $1.00 per month; and Optional Check Images - Front and Back: $2.00 per month. An overdraft charge is imposed for overdrafts created by checks, in person withdrawals, ATM withdrawals, or by other electronic means, as applicable. An overdraft charge is imposed for overdrafts created by checks, in person withdrawals, ATM withdrawals, or by other electronic means, as applicable. $5,000 average monthly balance will waive the $7.95 monthly fee.

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.