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Privacy Policy

The directors, management, and staff of Valrico State Bank are concerned about and respect the privacy of our customer's personal financial information. We understand that our customers furnish sensitive information to the bank in the course of daily business, and the bank is committed to treating such information responsibly. We know that our customers expect privacy and security for their personal and financial affairs.

The bank will take all the necessary steps to safeguard sensitive information that has been entrusted to us by our customers. Click Here to review the Bank's privacy policy and disclosure, which outlines our bank's practice regarding personally identifiable financial information for consumers and those consumers who become our customers.


TYPES OF INFORMATION THE BANK COLLECTS

At Valrico State Bank we collect nonpublic personal information from many sources. The bank collects nonpublic personal information directly from consumers on various applications and forms such as:

  • Loan applications
  • Deposit account applications
  • Requests for information about accounts or products and services

The bank also collects information as a result of transactions between the bank and our customers and as a result of providing a product or service to our customers. This includes transaction information from:

  • Checks
  • Debit Cards
  • Credit Cards
  • Automated Teller Machine (ATM) cards
  • Electronic Transfers (e.g., home banking or automated clearinghouse (ACH) transactions
  • Consumer Reporting Agency

Nonpublic personal information does not include that which the bank obtains from government records, widely distributed media, or government mandated disclosures.


TYPES OF INFORMATION THE BANK DISCLOSES

The bank does not now, nor does it intend in the future, to disclose any personal financial information to any nonaffiliated or affiliated third party. By law the bank may disclose certain personally identifiable information without allowing consumers the right to opt out of the bank's sharing agreements in the following circumstances:

  • To companies who perform transaction processing for the bank in the following circumstances:
    • If the transaction, service, or product is requested or authorized by the consumer
    • To maintain or service a consumer's account as part of a private label credit card or other loan extension program

  • To disclose information necessary to enforce the bank's legal or contractual rights or the rights of any other person who is engaged in the financial transaction.
  • To disclose information required in the ordinary course of banking business, such as in the settlement of claims or benefits, the confirmation of information to the consumer or the consumer's agent, and the billing, processing, or clearing of items in the normal course of business.
  • To provide information to insurance rate advisory organizations, guaranty funds or agencies, agencies that are rating the bank, persons that are assessing the bank's compliance with industry standards, and the bank's attorneys, accountants, and auditors.
  • To the extent permissible under the Right to Financial Privacy Act.
  • To a consumer reporting agency under the Fair Credit Reporting Act.
  • To comply with federal, state, or local laws, rules, and other applicable legal requirements.

The bank may disclose personally identifiable information to nonaffiliated third parties we engage to market our own services or products to our customers. If the bank shares information with a third party nonaffiliated marketing firm for the purpose of telling our customers about our new products or services, the bank will enter into a written agreement with the third party that will require the third party to maintain the confidentiality of the information in the same manner the bank would and restrict its use.


SAFEGUARDING CUSTOMER INFORMATION

At Valrico State Bank we protect consumer privacy by ensuring that only employees who have a business reason for knowing information have access to it. All employees have a copy of this policy and are trained at least annually regarding the importance of safeguarding customer information. The bank will take disciplinary action against any employee who violates the bank's privacy policy and procedures.

We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information.

If we change our policy or practice by, for example, adding a category of information that will be disclosed to a third party, the bank will notify existing customers and give them an appropriate time period to opt out of the disclosure.