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. The following privacy policy and
disclosure 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.
