Commercial Banking Services
Checking and Savings Account Services
- Small Business Checking Account - Checking account
for small business customers that has a limit of debits
and transit items deposited per month.
- Commercial Checking Account - Checking account for
larger commercial customers.
- Commercial NOW Checking Account - An interest bearing account
available only to sole proprietorships and certain
non-profit organizations.
- Commercial Money Market - An interest bearing investment
account.
- Commercial Certificate of Deposit - An investment
account offered by Town and Country Bank for commercial
customers wishing to invest money for a fixed time
period at a competitive rate of interest for current
income or long-term funds accumulation.
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Account Analysis
TCB's reporting and billing mechanism for commercial
customers using non-credit services. Account Analysis
compares actual customer balances with the balances
required to support non-credit services. The resulting
net investable balance determines the monthly service
charge.
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Wire Transfer Services
The fastest and most secure method of moving funds and guaranteeing immediate availability.
This service is done for TCB customers only.
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Financing
and Credit Services
Accounts Receivable/Inventory Financing
Accounts receivable (A/R) is defined as the right to
receive payment for providing a product or service to
an outside party. The bank's involvement in financing
accounts receivable and inventory would typically entail
taking this collateral for the following purposes:
- Provide Working Capital Lines of Credit - A line
of credit issued to a credit worthy company for its
use in financing its working capital needs.
- Advancing a specific percentage under a borrowing
base on a line of credit.
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Agricultural Financing
Credit Products offered in the following areas:
- Dairy Financing - Financing for dairy cattle.
- Livestock Financing - Financing for cow-calf and
feeder cattle operations.
- Farming - Financing for farm equipment purchases.
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Community Development Financing
The financing of middle market and small businesses.
This could include community service groups and associations
that have a defined function or purpose.
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Fixed Asset Financing
A credit product offered to finance permanent or fixed
assets such as machinery and equipment. The loan is
secured by the fixed assets.
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Inventory Financing
A credit product offered to finance the purchase of
inventory by a company. The loan is secured by the inventory.
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Mortgage Banking
- Home Improvement Loans - Allow homeowners to take
advantage of the equity in their residences by borrowing
additional funds to improve the property. Traditional
purposes include financing room additions, remodeling,
major repairs, swimming pools and other similar enhancements.
- Residential Construction Loans - A loan that finances
the construction costs of a new residence. Usual terms
are six to nine months.
- First-lien Mortgage Loans - A loan made for periods
of two to five years as a short-term mortgage with
longer-term amortization. The maximum amortization
of these loans is thirty years.
- Long-term Fixed Rate First-lien Mortgage Loans -
A fixed rate loan with a maturity of up to thirty
years. These loans are sold to the secondary market.
- Mini-Perm Real Estate Loans - A credit product offered
by TCB for the purpose of purchasing or refinancing
income producing real estate properties.
- Builder Financing - A Builder Line is a credit product
offered by the bank for the purpose of financing the
construction of single-family residential housing.
Maximum terms of these loans are six to nine months.
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Small Business Administration (SBA) Lending
A lending program for small businesses that is guaranteed by the government.
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Other Commercial Services
Automated Clearing House (ACH) Origination
ACH Origination is available through TCB for a company
to either:
- Improve the collection of fixed or recurring payments from
their individual customers (i.e., insurance payments,
utility payments) or
- Use as a cost effective method of disbursing funds
(i.e. Direct Deposit of Payroll) to a specified checking
or savings account at any ACH-member financial institution.
The Automated Clearing House (ACH) is the central distribution
and settlement mechanism for electronically clearing
items between sending and receiving banks.
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Bookkeeping Services
To assist a company in reviewing account activity (debits,
credits, balances).
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Cashier's Checks
A direct obligation of the issuing bank which is guaranteed
payable if endorsed completely and correctly. A Cashier's
Check cannot be sold blank or issued to "cash"
or "bearer". Companies frequently purchase
Cashier's Checks to satisfy remittance terms requiring
immediate satisfactory payment, especially when a large
amount is involved.
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Check Clearing
Funds availability is accelerated for TCB's customers
as checks are efficiently cleared through the Federal
Reserve System.
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Collections and Foreign Exchange
TCB's Collection Services provide timely and accurate
processing of domestic and international collection
items. Our system supports the tracking and tracing
of each collection item to ensure effective monitoring
of all items in process. TCB offers the following collection
services:
- Payable Drafts - The customer is provided with a
listing of drafts, and the drafts are available for
pick-up each morning. The customer controls payment
and return decisions. Daily funding of drafts can
be a direct debit, wire, or check.
- Domestic Collections - Outgoing items are sent directly
to the paying bank. Incoming items are presented to
our customers in a timely manner to ensure proper
payment or return.
- Coupon/Bond Collections - Outgoing coupons are sent
directly to the paying agent bank. Outgoing bonds
are sent on a non-cash basis to the Federal Reserve
Bank.
- International Collections - Outgoing items are sent
to a correspondent bank which sends them directly
to the paying banks.
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In-House Transfers
Companies may set up automatic transfer arrangements
at the bank to transfer funds from checking to savings
or from savings to checking.
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Merchant MasterCard/VISA Services
TCB's Merchant MasterCard/VISA Services provide an
efficient payment system to a broad spectrum of retail
industries. Particular emphasis is given to the electronic
processing of MasterCard and VISA cards. Merchant Services
can be used by the retail merchant for:
- Fast and efficient authorization of payment options.
- Reduction of losses due to cardholder fraud.
- Reduced cost of processing bank deposits.
- Consolidation of funds from multiple retail locations.
- Reduction of float cost.
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Money Orders
A check-like payment mechanism that is purchased from
TCB for a cash value up to $1,000. Money Orders are
widely accepted by companies and merchants for bills
and other obligations.
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Night
Depository
24-hour depository that is available at night depository
receptacles at each bank location to facilitate after-hours
deposits and ensure safety of funds overnight. Contact
a bank representative for zippered bags for deposits.
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Return Items
Phone notification of return items can be arranged
to reduce check losses.
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Safe Deposit Boxes
Safe deposit boxes on bank premises provide security
for the storage of personal or corporate valuables or
documents.
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Stop Payments
Stop Payment orders require a request form executed by the
company.
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Tax Deposits
Treasury, Tax and Loan (TT & L) payments are a
method by which businesses make payments for payroll
and withholding taxes. Town and Country Bank provides
ACH debit or credit capabilities for EFTPS (electronic
payment) of all federal taxes directly from your account.
Funds are processed and credited to a special Treasury
account from which the Internal Revenue Service withdraws
the funds.
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TelleBanker
Fax Service
Companies can readily access all their account information
at any time using a touch-tone phone, a Personal Identification
Number (PIN) and by dialing (254)968-8884 or
1-888-822-2658. The TelleBanker
is a free service through which customers can make account
balance inquiries, find out if a specific item has cleared,
find out the status of deposits and posted checks, obtain
an instant account statement via fax, and balance their
checkbooks.
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