PEOPLES FIRST SAVINGS BANK Questions & Answers

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PEOPLES FIRST SAVINGS BANK Questions & Answers

PEOPLES FIRST SAVINGS BANK

Why does Peoples First deserve its customers' trust? This year, we are celebrating our 101st anniversary! This heritage, as well as our strength, security and stability, was built upon a philosophy of putting our customers' interests first.

What is unique about Peoples First? We are a "mutual" company, which means that each depositor has a stake and ownership in our bank. Each customer is a member of our family. We are a hometown bank, not a conglomerate or multinational corporation. This is our home, and our customers -- our neighbors -- are a part of the Peoples First family.

Why should local ownership and management of a bank matter? Peoples First provides lending and saving services to our neighbors and friends, and it is your neighbors and friends who save, lend and manage our bank. As a result, we have a bigger stake in the success of our customers than some of our competitors. Local ownership and management also gives us more autonomy in decisions that affect our customers. For example, when lending, Peoples First understands that life events are an important consideration along with credit scores. We do everything we can to help our customers live the "American dream" responsibly and with expert guidance.

Is the bank a member of the FDIC? Why is that important? Yes, we are! FDIC membership ensures that money held in savings, checking and other deposit accounts are safe. The FDIC insures up to $250,000, an increase good thru December 2013, per depositor in each bank or thrift. It does not insure securities, mutual funds or similar types of investments that some banks and thrifts offer. For more information, please visit .

Are deposits secure? All of the products we offer are insured to the legal limits of the FDIC, and are secured by the full faith and credit of the United States Government. For more information, please visit .

How can Peoples First's Customer Care Representatives support my banking needs? Our Customer Care Representatives have more education, experience and total knowledge of the banking system than you'll find at other banks. In fact, they are able to solve most questions in a single phone call. What's even better? We do not use an answering service during business hours. Our Customer Care Representatives take your call promptly, want to answer your questions, want you to be happy and look forward to sharing your successes. They put People First.

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Do you offer both commercial and residential banking? 90% of the work we do is for the residential market. We do some small business lending, but our focus is working with individuals who need our guidance and support. We enjoy the personal relationships we develop with our customers, and revel in being a part of their lives.

What is "Operation Thank You"? There is nothing more important to our troops serving overseas than to know that people back home support and encourage them. Peoples First works cooperatively with Operation: Thank You, a non-profit organization, to send cards, care packages and necessities to troops, particularly local soldiers, serving abroad. Donations are accepted at both branch locations throughout the year. To get more information or to join our efforts, please contact a Peoples First Customer Care Representative or visit .

How is Peoples First Savings Bank involved with the Kiwanis Club? Peoples First Savings Bank's chairman of the board, Don Williams, as well as board member, Dick Yost, and president, Ryan McCurley, have been active supporters of the Mason Kiwanis Club for more than six decades combined. In fact, all three have been past presidents of the organization. The Kiwanis Club is important to Peoples First Savings Bank because they are committed to supporting our community and performing a family of programs that benefit children, locally and worldwide.

MORTGAGE/PERSONAL BANKING

What is a mortgage portfolio and why is it an important consideration when choosing a bank? Many banks these days buy and sell the servicing of loans like commodities. We don't. We hold all the papers on our mortgages and work directly with applicants and mortgage holders to support their success. Our customers benefit from the long-term relationships that we work hard to develop and maintain.

Are mortgages safe and secure at Peoples First? While some in the banking industry have acted irresponsibly, customers should know that Peoples First is NOT among them. In fact, we are rock solid. We have not had a single "foreclosure" due to making unqualified loans as a result of extending credit inappropriately.

How do you qualify potential applicants for mortgage loans? For the last 100 years, we have worked with our customers to understand their lives and support their futures responsibly. When making lending decisions, Peoples First Savings Bank understands that life events are as important a consideration as credit scores. Life is difficult enough. We do everything we can to help get you on your way in a manner that helps ensure success long-term.

How important are credit scores? Credit scores are certainly important, but we believe that life events may influence your credit rating. Even though Peoples First Savings Bank is a conventional lender; as a home town bank, we have the flexibility to consider your credit score and your life circumstances.

Where can I find rate information for the savings, checking and loan products offered by Peoples First? On-line at or a friendly customer care representative can assist you.

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Should I get pre-approved for a mortgage before I search for a home? Yes, with our simple pre-approval process, you know for sure that you are qualified to purchase the home of your dreams.

How do I get pre-approved? Call to speak with one of our mortgage professionals. You can set up an appointment to meet in person or provide the information needed over the phone. Materials that are required to begin the mortgage application process include:

? 2 years of tax returns (3 years if self-employed) ? Copies of your W-2 for the previous 2 years ? Most recent pay stub ? Most recent bank/asset statements

How much cash will I need for closing costs? Generally, our closing costs range from $1,200 - $1,500, depending on the type of loan and the amount you are borrowing. Commercial loan closing costs would run higher.

What is included in a mortgage's closing costs? Our closing costs include the appraisal, credit and flood reports, document preparation, and recording, origination and title exam fees.

What is a rate lock? Typically, a locked rate is for 30 days on a home purchase, 60 days on a home refinance and up to 7 months on new construction. Call for details on your specific needs.

Can I buy down my rate? Yes, you may pay a fee to lower your mortgage rate.

What are third party fees? Third party fees include costs for the appraisal, credit and flood reports, title exam and recording fees -- all are included in our closing costs.

Are there any other fees or money that I will need to bring to the closing? Pre-paid interest is the only additional funds necessary to bring to the closing.

What is pre-paid interest? Pre-paid interest is money that must be paid from the day of closing until the end of the month.

What is a "good faith estimate" and why is it important? A "good faith estimate" is a detailed breakdown of all fees and closing costs that are included in a loan.

Do I need hazard/homeowner's insurance? If so, how much? Yes, insurance is required to cover the amount of your loan.

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Do you hold your own mortgages or do you sell them? Peoples First has never sold the servicing on mortgage loans. We are an in-house lender and we maintain our own portfolio.

How long does it take to receive my automobile title once my loan is paid off? Typically, the title will be sent 3-7 business days after the loan is paid in full.

CHECKING

Does Peoples First offer debit cards with the account? Yes!

How do I change the address on my accounts? Can I send a request by e-mail? To help prevent identity theft, a change of address form is required to be completed in person with a Peoples First Customer Care Representative.

How do I order new checks? You may order checks on-line at or . Our Customer Care Representatives also can assist you.

How do I stop an automatic payment? A signed, written request is required two weeks prior to the payment date.

What is the cancelled check fee? Images of your checks are provided with your bank statement each month (except with Freedom Checking accounts). You would only incur a cancelled check fee if you needed to order additional copies of a specific check. If a copy is requested in the same month the check cleared your bank account, the fee is $2.00. An $8.00 fee is charged for copies of checks requested after one month of clearing your bank account.

What is the difference between an overdraft fee and an insufficient funds fee? An overdraft fee is assessed for any check, draft or preauthorized debit that is paid from a customer's account that results in a negative balance. An insufficient funds fee is assessed for any check, draft or preauthorized debit that is returned from a customer's account for non-sufficient funds.

What overdraft protection does Peoples First offer its customers? We offer a sweep account that protects your primary account. In the event a debit clears and the money is not available, funds will "sweep" from your sweep protection account to cover the debit item. There is a $5.00 sweep fee per transaction.

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How do I stop a payment on an outstanding check? What is the fee? To place a stop payment, you will need to speak with a Customer Care Representative by calling (513) 398-1040 or (513) 899-2040. A stop payment request form also must be signed. The fee to stop payment on a check is $30. How do I change my ATM PIN? To provide security and reduce the risk of identity theft, this service is only accessible at either location of a Peoples First Savings Bank ATM.

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