welcome to
YOU FIRST
banking
TA B L E O F C O N T E N T S
Letter from the President
.......................................................................................................
3
..............................................................................................................................
5
.........................................................................................................................................................
8
About First South
Timeline
Personal Account Conversion
.......................................................................................
10
Business Account Conversion
......................................................................................
16
..................................................................................................................
20
.................................................................................................................................................................
25
Products & Services
FAQs
Map / Locations
................................................................................................................................
Contact Information
2
.....................................................................................................................
34
36
LET TER FROM
T HE P R E S I D E N T
Dear Customer,
First South is excited to welcome nine North Carolina branch locations of Bank of America.
This process is currently underway and these branches will open as First South branches
on December 15th, 2014.
As new customers of First South, I am sure you are wondering what this new relationship
will mean for you. I believe the changes you’ll notice will only be positive. As a strong community
bank serving both the people and businesses of eastern North Carolina since 1902, this acquisition
will introduce more people than ever to the youfirst banking experience.
The commitment to our customers and communities that First South has shown over the last
century-plus will continue. We will strive to be the community bank of choice by focusing on
building lasting relationships, crafting the right financial solution in your best interest and being
vested in your community. At First South, you get home town banking values and face-to-face
interactions blended with the very latest in modern technological conveniences. We hope you
will appreciate the way we do things and value our partnership for years to come.
This booklet contains the information you will need for a smooth transition. In the following
pages, you’ll find information about our history and our current operations, key dates and
instructions for transition, information about our accounts and services, answers to frequently
asked questions and more.
First South has the tools and the team to help you reach your financial goals. We look forward
to getting to know you by name and by need, serving you long into the future.
My best regards,
Bruce W. Elder
President & Chief Executive Officer
3
ABOUT FIRST SOUTH
First South has been serving eastern and central North Carolina for over 112 years. Founded
in 1902 in Washington, NC, we now serve 17 communities in 14 counties from Durham to Kill
Devil Hills and from Elizabeth City to Wilmington. The banking center you frequent and the
other eight centers being transferred expand our presence into seven new, exciting markets
that fit right into the heart of our existing footprint. You will soon find that First South offers
a modern suite of banking products through the high-touch and high-tech delivery channels
that you expect to find from a progressive community bank.
What makes First South different is a commitment to community values and modern conveniences.
We deliver the latest banking products and services with a smile and a handshake, but you can also
access these services from your computer, tablet or mobile device. We build strong relationships so
we can give you exactly what you need at the moment you need it.
The employees of First South, including the same hometown bankers you know and trust, will
work as a team to seamlessly provide you with a unique banking experience. Our vision for First
South is to be the community bank of choice by consistently offering youfirst experiences. With
this vision as our guide, we make the following promises that together define youfirst banking:
We promise to form meaningful connections and build lasting relationships.
We promise to listen and help craft the right financial solution in the best interest of each customer.
We promise to inspire, support, respect and be accountable to our fellow employees.
We promise to be vested in the communities we serve.
5
About First South’s Services
A Bank You Can Trust
In over a century, First South has grown to a full service commercial bank. Focusing on
your life goals, we offer a full range of deposit, lending and cash management services for
individuals and businesses. You can expect the service of a home town bank paired with the
offerings of a regional or national institution, including:
Confidence is critical in any banking relationship. At First South, we give you plenty of reasons
to be sure that we will deliver great products and services that will make your financial life
better. Here, you get:
Sound Management and Financial Stability
Personal Banking
Deposit, loan, online and mobile services
We have a highly experienced leadership team, are well capitalized and are confident
in our future.
Business Banking
Experienced and Seasoned Bankers
Working capital, commercial real estate, residential construction and development,
AgriBusiness, cash management and online and mobile services
The Bank of America employees at these nine banking centers will become First South
employees on December 15th. The managers in these locations average 20 years of banking
experience and are excited about being able to meet your needs in a community bank
environment.
First South Mortgage
One of eastern North Carolina’s largest community based originators and servicers
of home loans for over a century
First South Leasing
Full service equipment leasing company
First South Wealth Management
Fast, Flexible Decision Making
Our decision makers are in-house, so you can get what you need when you need it.
Local Operational Excellence
While First South believes in a single point of contact, our Business Bankers, Branch
Managers and staff are supported by an experienced team of local operations personnel
located here in eastern North Carolina.
Full service investment and advisory services provided by an experienced team of advisors
Comprehensive and Competitive Products and Services
Our leasing and mortgage servicing functions are lines of business you will not find at other
community banks, but are offered by First South because we want to be your full service partner.
We’re a modern financial institution with an impressive suite of services to meet any
need you have.
The youfirst Experience
6
7
TIMELINE
WEE K O F D E CE M B E R 1S T
MON DAY, DECEMBER 15TH
You will receive your new VISA debit card or ATM card the week of December 1st.
®
Please do not use your new VISA debit card or ATM card until 9:30 p.m. on Friday,
December 12th.
ATMs available for operation at 9 a.m.
®
You will receive your new PIN the week of December 1st. You may change your PIN at any
time after December 15th by visiting any First South ATM.
WEE K O F D E CE M B E R 8T H
Personal checking customers will receive a complimentary order of 20 personal checks and
deposit tickets the week of December 8th.
Online banking, bill payment and mobile banking for personal and business accounts will be
available at 9 a.m.
If you are enrolled in Bank of America online banking, you will be automatically enrolled in
First South’s online banking.
If you currently use Online Bill Payment, most of your payees and single and recurring payments
will automatically transition to First South’s Online Bill Payment system. We will convert six
months of bill payment history.
Business checking customers will receive a $75 credit towards their first order of checks and
deposit tickets placed with First South before January 15th.
If you are currently a mobile banking customer you will have to re-enroll in mobile banking.
Reference the section entitled Electronic Banking on how to activate your mobile banking on
December 15th.
FRID AY, D E CE M B ER 12 T H
Treasury management customers who originate wires and ACH will receive a separate mailing
with sign on instructions and a secure token.
Night drop at Banking Centers close at 8:00 a.m. Banking Centers close at 12:00 p.m.
You may activate your VISA® debit card or ATM card by performing a balance inquiry at an
ATM or conducting a PIN based Point-of-Sale transaction on Friday, December 12th after
9:30 p.m. You may also activate your debit card beginning December 15th through online
banking or mobile banking.
Details on activation and enrollment for all of these services are located in the Electronic
Banking section of this booklet and our website; www.firstsouthnc.com.
SAT U RD AY, D E CE M B E R 13 T H A N D S U N D AY, D E C EMBER 1 4 TH
Existing ATMs will be out of service as we transition to First South.
First South VISA® debit and ATM cards can be used at other ATMs or to make Point-of-Sale
purchases.
Any ATM fees from this weekend will be reimbursed.
8
9
PERSONAL
ACCOUNT CONVERSION
Existing Bank of America accounts will convert to First South accounts as follows. For a
full breakdown of First South’s accounts and features, materials are available at your local
branch, or on our website, www.firstsouthnc.com.
Essentials Checking
Campus Edge
SafeBalance Banking
Senior Economy*
Enhanced Checking – Anchor
myChoice
Premium Checking – Non- Anchor*
Classic Interest Checking*
Classic Interest Checking – Preferred Relationship
Classic Interest Checking – Preferred Relationship Non - Anchor*
myLife
Regular Checking – Preferred Relationship*
BANK OF AMERICA
Minor Savings
Regular Savings – Standard
Regular Savings – Relationship
Regular Savings – RCMM Participant
Custom Savings
Custom Savings Relationship
Classic Interest Checking – Advantage Relationship Non - Anchor*
GWIM Money Market Savings
Premium Checking – Anchor
Money Market Savings – Standard
Advantage with Premium Tiered Interest Checking*
Money Market Savings – Relationship Continuum
Classic Interest Checking – Advantage Relationship*
Advantage with Tiered Interest Checking Anchor*
Interest Checking Anchor*
Basic I
myChild
myExpress
eBanking Checking
FIRST SOUTH
mySavings
BANK OF AMERICA
myMoney
FIRST SOUTH
PERSON AL SAV I NGS
myNestEgg
P ER SO N A L CH E CK ING
Personal Money Market Savings
Personal MMS – Relationship Continuum
Platinum MMS – Continuum
Core Checking
Platinum Money Market Savings
Regular Checking
Rewards Money Market Savings
Regular Checking – Advantage Relationship
Basic II
Enhanced Checking Non- Anchor
Regular / Campus Edge / myAccess – Advantage Relationship
Interest Checking Non- Anchor*
Advantage with Tiered Interest Checking Non - Anchor
All Checking Account service charges will be waived for the first statement period.
10
*Service charges waived for additional two (2) statement periods.
11
About Our Personal Accounts
PER SO N A L CH E CKIN G
First South rewards you for your relationship. On the myExpress, myChoice and myLife
checking accounts, earn 10 cents back on every VISA® debit card signature based
transaction of $ 20 or more.
myExpress Checking
myLife Checking
This account is the best choice for on-the-go customers who bank online. myExpress
checking does not earn interest.
This account is best for those who are enjoying benefits of their financial life and want to
earn interest. myLife Checking customers also receive a $250 mortgage rebate, a 3” x 5” safe
deposit box and a monthly ATM surcharge refund up to $3.
The monthly maintenance fee of $8 is reduced by $2 for each of the following qualifiers
met during the statement cycle:
Maintain a direct deposit or recurring ACH transaction
20 or more debit card point-of-sale transactions
Receive eStatements
The monthly maintenance fee of $25 is waived by meeting one of the qualifiers during the
statement cycle:
Maintain $15,000 combined in checking, savings and money market savings
Maintain $10,000 combined in checking, savings and money market savings and one of the following:
Write five or fewer paper checks
First South Wealth Management Investment Relationship
Maintain a savings or money market account
First South Mortgage (subject to credit approval)
Process three or more Bill Payments
First South Consumer Loan (subject to credit approval with an outstanding balance.
Excludes Reserve Line)
myChoice Checking
Maintain a Business Interest, Business Plus, Business Analysis or IOLTA account
This account is for customers who want flexibility in how they bank. With this interestearning account myChoice Checking customers also receive a $150 mortgage rebate.
Basic Checking
The monthly maintenance fee of $10 is reduced by $2 for each of the following qualifiers
met during the statement cycle:
This account offers the features and functionality you are accustomed to with your current
Bank of America account.
Maintain a direct deposit or recurring ACH transaction
15 or more debit card point-of-sale transactions
Receive eStatements
Senior – age 60 or better
Maintain $1,000 average ledger statement balance
Maintain $2,500 average collected monthly balance in checking, savings and money market savings
Maintain a savings or money market savings account
Maintain a CD of $10,000 or more
Maintain an First South mortgage (subject to credit approval)
Maintain an First South consumer loan (Subject to credit approval with an outstanding balance.
Excludes Reserve Line.)
The monthly maintenance fee of $12 is waived if you meet one of the following qualifiers
during the statement cycle:
$250 direct deposit
$1,500 average balance
This account was created specifically for the Bank of America transition and is not available
for new account openings.
Basic Checking II
This account was designed for Bank of America non-anchored checking product customers
transitioning to First South.
This account does not have a monthly maintenance fee.
This account was created specifically for the Bank of America transition and is not available
for new account openings.
12
13
PER SO N A L SAVI N G S A ND M O NE Y MA R K E T S AVIN GS
mySavings
This traditional savings account allows you to save money easily.
$7 monthly maintenance fee
$200 minimum balance to avoid maintenance fee
Limited to 6 withdrawals and/or transfers each month
$10 charge for additional withdrawals and transfers
myNestEgg Savings
Grow your financial life with a high-yield, low-activity savings account that provides tiered interest.
$10 monthly maintenance fee
$1,000 minimum balance to avoid maintenance fee
Limited to 1 withdrawal and/or transfer each month
$10 charge for additional withdrawals and transfers
myChild Savings
Teach your children the importance of saving with this low-balance custodial savings account.
$7 monthly maintenance fee
$25 minimum balance to avoid maintenance fee
Limited to 2 withdrawals and/or transfers each month
$10 charge for additional withdrawals and transfers
myMoney
This account combines all the advantages of a high yield savings account with the convenience
of writing checks.
$15 monthly maintenance fee
$2,500 minimum balance to avoid maintenance fee
Limited to 6 withdrawals and/or transfers each month
$15 charge for additional withdrawals and transfers
14
BUSINESS
ACCOUNT CONVERSION
Existing Bank of America accounts will convert to First South accounts as follows. For a
full breakdown of First South’s accounts and features, materials are available at your local
branch, or on our website, www.firstsouthnc.com.
BANK OF AMERICA
Business
Plus
Business Economy Checking
Business Advantage – Anchor
Business Fundamentals Checking – Anchor
IOLTA
Business Money
Market
Business Business
First
Interest
Business Fundamentals Checking – Participant
Business Interest Checking
Business Advantage Checking – Participant
Commerical Business Interest Maximizer
Select Business Interest Maximizer
FIRST SOUTH
Business Analysis
Checking
FIRST SOUTH
AN ALYZED BUSI NESS CHECKI NG
Business Analysis
Checking Interest
S MAL L B U SI N E SS C H E C K IN G A N D S AV ING
BANK OF AMERICA
Simple Analysis Checking
Full Analysis Tiered
Analyzed Business Interest
Platinum Business Interest Maximizer
Business Interest Maximizer
Business Investment Account
Analyzed Business Investment / MM Savings
Public Service Trust
All Checking Account service charges will be waived for the first statement period.
16
17
About Our Business Accounts
BUSI N E SS CH E CKING A ND S AV IN G S
CHARGE FOR ADDI T I ONAL T R ANS AC T I ONS :
$.40 per debit, credit or item deposited
Business First
This account is designed for small businesses and non-profits with limited activity. There is
no monthly maintenance fee.
T R A N S A C T I O N LIMITS:
175 per month (includes debits, credits and items deposited) or 250 per month when maintaining a
merchant services relationship
Less than $5,000 cash deposited
C H A R G E F O R A D D ITIO N A L TRA N SA CTIO N S:
$.40 per debit, credit or item deposited
$1.25 per $1,000 over excess cash deposited
Business Interest
This is an interest earning account for any business with limited activity. The monthly maintenance
fee is $12, but can be avoided with a $5,000 daily or $8,000 monthly average balance.
T R A N S A C T I O N LIMITS:
175 per month (includes debits, credits and items deposited) or 250 per month when maintaining a
merchant services relationship
Less than $5,000 cash deposited
$1.25 per $1,000 over excess cash deposited
ADDI TI ONAL F E AT UR E S :
$75 off first order of standard business checks
Free 3” x 5” safe deposit box (or discount on larger box, subject to availability) or free supply of 50
disposable night deposit bags
Business Analysis
A cost-effective account for high activity businesses where activity is analyzed according to
the services used and credits are applied to the total fees based on the balance in the account.
Business Analysis - Interest
Like our business analysis account, but with competitive interest rates.
Business Savings
A simple account with low fees you can easily avoid.
Earns tiered interest
$10 maintenance fee that is waived with a $1,000 balance
1 withdrawal allowed during statement period
$10 charge for additional withdrawals
C H A R G E F O R A D D ITIO N A L TRA N SA CTIO N S:
$.40 per debit, credit or item deposited
Business Money Market Savings
$1.25 per $1,000 over excess cash deposited
Earn competitive money market interest with this account.
Earns tiered interest
Business Plus
This account is competitively priced for businesses with moderate activity. The monthly
maintenance fee is $15, but can be avoided with a $5,000 average balance or a $10,000 daily
ledger balance in a related Business Savings or Money Market Account.
$15 maintenance fee that is waived with a $2,500 balance
6 withdrawals allowed during statement period
$15 charge for additional withdrawals
T R A N S A C T I O N LIMITS:
425 per month (includes debits, credits and items deposited) or 500 per month when maintaining a
CERTIF ICATES OF DEPOSI T ( CDS)
merchant services relationship
We will honor the terms and conditions of your existing CDs with Bank of America through
maturity. For additional information please see our CD and IRA FAQ section.
Less than $10,000 cash deposited
18
19
PRODUCTS & SERVICES
ELECT RO N I C B A N K ING
These powerful tools give you greater access to all of your accounts.
Online Banking
Text Banking
Full service banking from your computer featuring the ability to:
A quick way to get basic account information. With Text Banking you can:
View real time account balances and activity
Transfer funds between your First South accounts
View check images and eStatements
Manage your VISA® debit card
Use myFinance – our online financial management tool
Make Online Bill Payments – if you currently use Bill Payment with Bank of America, most of
your payees will move over to First South’s Bill Payment
To activate your online banking on December 15th, visit www.firstsouthnc.com. Your online
ID will be the same as your Bank of America ID. Your password will be the last four digits of
your social security number or tax identification number. Once you’re logged in, you will be
prompted to change your password. You will need to select a watermark, answer security
questions and confirm your email address.
Mobile Banking
Receive account balance and history information via simple commands
To enroll in Text Banking, log in to Online Banking and select Options > Mobile Settings> Text
Mobile Settings and follow the instructions.
Telephone Banking
Get 24/7 access to information or perform a variety of actions. You can use your touch-tone
or mobile phone to:
Quickly obtain information about your account or loan
Transfer funds between checking and savings
Verify funds received from First South customers
Beginning Monday, December 15th you may call the Access Line at 888-317-0097. The first
time you call you need your account number and will be asked to enter your Social Security
number for authentication. You will then be prompted to set up a Personal Identification
Number (PIN) for future access.
A safe and easy way to stay connected. With our Mobile App you can:
View account balances and activity
Pay bills
Transfer money
Deposit checks
Manage your VISA® debit card
To enroll in Mobile Banking, log in to Online Banking and select Options> Mobile Settings>
Mobile Access to activate Mobile Banking. Then download First South’s mobile app on the
App Store® or Google PlayTM.
20
21
Cash Management
First South wants to learn about your business, listen to your needs and develop customized
solutions that will simplify your finances so you can focus on growing your business. Our
Cash Management solutions put you and your business first by helping you:
Save time and money via cash and information management
Make and receive payments at the right time and the right cost
Manage collections efficiently and effectively
eCapture (Remote Deposit Capture)
eBusiness Manager
Our Remote Deposit Capture saves you time and a trip to the Bank with a premier solution in
which you scan your business deposits to First South from your office.
Our complete online cash management tool is available 24/7. This is a flexible solution for
accessing your accounts from almost anywhere. It includes payroll solutions, wire transfers,
account reconciliation with Positive Pay and check recovery. It provides you greater control
of your accounts with:
Business Credit Cards
In-depth online access to your accounts
Along with our partner Elan, we offer a variety of different credit products to help you pay
your vendors, earn rewards, track spending and manage your cash flow. Flexibility to separate business from personal expenses and provide access to free spending reports.
Management of vendors and employee payments and invoice collections by ACH
Full access to payroll direct deposits, tax payments, and online bill payments
Mobile Banking with AndroidTM, iPhone®, or iPad®
Zero Balance Accounts
Support from experienced bankers
Simplify fund consolidation and eliminate manual transfers by linking multiple accounts into
a specific account that will help maximize earnings.
Bill Simple
Bill Simple is designed to help your business track receivables and decrease the time spent
collecting money by offering one place to invoice, collect, track and manage your receivables.
Sweep Accounts
This account is designed to help you maximize your deposit earnings by transferring your
excess funds to a First South interest-bearing cash management account or line of credit.
The additional earnings will then be deposited into your account monthly or used toward
line of credit balances.
Create customizable invoices
Track accounts receivable
Gateway for receiving electronic payments include ACH and Merchant Card
eCommerce
eCommerce combines our eBusiness Manager and Bill Simple in one complete electronic banking
package that will enhance your ability to access your accounts, pay your employees, transfer
money via ACH and create customizable invoices while tracking your accounts receivable.
22
23
FA Q S
Merchant Services
GEN ERAL QUES TI ONS
Where are First South’s branches located?
With just a few convenient tools, you can accept payments from customers in many ways. Our
partner First Data allows our customers the ability to provide payment solutions by ensuring
your funds are deposited quickly with competitive rates and maximum security. Your business
may accept almost any payment options including credit, debit and gift cards.
We have locations throughout eastern and central North Carolina. On page 34 of this
Welcome Booklet we have a map of our current locations and the nine Bank of America
branches that will transition to First South on Monday, December 15th. You may also find a
listing of our current locations on our website, www.firstsouthnc.com.
When will my Bank of America branch become First South?
Wealth Management
First South provides access to expert wealth management services through a partnership with
LPL Financial. They provide independent, transparent and objective recommendations to help
you achieve your investment goals. LPL has a more than four-decade track record of quality
services and products backed by unbiased research and industry-leading technology.
Over the weekend of December 12th, we will transition the accounts of Bank of America into
First South. On Monday, December 15th, the Bank of America branches will begin operation
as First South.
What is First South’s website address?
www.firstsouthnc.com
What are the business hours at my branch?
LOBBY HOURS:
Monday – Thursday: 9:00 A.M. – 5:00 P.M.
Friday: 9:00 A.M. – 6:00 P.M.
DRI VE THROUG H HOUR S :
Monday – Thursday: 8:30 A.M. – 5:30 P.M.
Friday: 8:30 A.M. – 6:00 P.M.
Pl ease Note: Th e Go l d s b o ro b ra n c h w i l l n o l o n g e r b e o p e n o n S a tu rd a y s .
Will my branch phone number change?
No, local phone numbers will remain the same.
Will any branches be closed?
No. The branches are located in the heart of First South’s footprint and we look forward to
becoming a part of your community.
Will the Bank of America employees still be at my branch?
Yes. We are pleased to say we are welcoming all existing branch employees into the First
South family.
Does First South have a Call Center?
Yes. We have a Customer Care Center. Regular business hours are Monday – Friday from
8:00 A.M. – 7:00 P.M. You may contact Customer Care at 888-993-7664. On December 13th and
14th, transition weekend, business hours will be 8:00 a.m. – 6:00 p.m.
24
25
FOR YO U R A CCO U N T
Will my account number change?
No.
How do I get a wire transfer sent to First South?
If you are sending funds by Wire Transfer, please include the following information on your
instructions to the originating institution beginning December 15th.
NAME OF BANK : F I R S T S OUT H
City and State: Washington NC
Will my routing number change?
ABA Number: 253171621
Yes, your routing number will change. More information will be mailed to you in the next
couple of weeks.
May I continue to use my Bank of America checks?
No. Please begin using your First South checks on December 13th.
If you are a personal checking customer we will provide you with a complimentary order of
checks and deposit tickets that you may begin using December 13th. We encourage you to visit a
First South branch or our website to place a personalized order of checks as soon as possible.
What is First South’s banking day?
All transactions (branch deposits, payments to loans, cashed checks) completed at any First
South branch prior to close of business Monday through Friday will be credited that same
business day. We do not have an afternoon cut-off period.
Will I continue to receive my ACH deposits, debits and direct deposits?
If you are a business customer we encourage you to visit your local branch and place an order
for checks and deposit tickets as soon as possible after December 12th. Business customers will
receive a $75 credit towards their first order of checks placed with the Bank’s check vendor.
ACH debits and credits that post to your old Bank of America number will transfer to your
First South account. We will also send an automated notice of change to your ACH originator
on your behalf. We recommend you notify each ACH originator (i.e. your payroll department
for Direct Deposit) that your bank routing number will change on December 15th.
If I have an automatic transfer set-up, when will the transfer take place if it’s a weekend or holiday?
Will my statement cycle date change?
The automatic transfer will take place on the preceding business day. Pending transactions
will not appear on your account prior to the transactions being posted.
Will the features of my account remain the same?
The features of your account will change. Please review the Account Conversion Charts to
locate your current account and learn the features of your new First South account. A full
breakdown of our account features are available on our website, www.firstsouthnc.com.
Will the information on my statement change?
Most information you are used to seeing on your statement will remain the same. However,
the layout will change after the conversion.
Will my automatic transfers between accounts remain the same?
All automatic withdrawals and deposits between your personal accounts should continue
without interruption if both accounts are transitioned from Bank of America to First South. If
you need to change or delete a recurring transfer, please contact your branch. New automatic
transfers may be created on December 15th.
What will happen to my safe deposit box?
26
Beneficiary: Customer’s Name and Account Number
Your valuables and important documents will continue to be stored in their current location.
Your key(s) will continue to be used to access your box. Please refer to the Schedule of Fees
for annual rental fees.
Yes. The statement cycle date for your personal checking account will be the 8th of each
month. Money Market accounts and Business accounts will cycle on the last business day of
the month. Savings customers will receive a quarterly statement unless you have an electronic
transaction on your savings account, then you will receive a monthly statement at month-end.
All interest and service charges will post to your account on the statement cycle date.
Will I continue to receive an eStatement on my account?
Yes, if you currently receive eStatements you do not need to re-enroll. If you do not currently
receive eStatements, you can enroll by logging in to Online Banking beginning December
15th and follow the instructions for enrollment.
Will I receive check images in my statement?
Yes.
If my savings account is automatically linked to my checking account to prevent it
from overdrawing, will this feature remain in place?
If your linked savings and checking account transition to First South then your savings
account will continue to automatically transfer funds to your checking account in order to
prevent an overdraft. Reference the Schedule of Fees for the cost of a transfer.
27
Will my alternative overdraft protection still be available?
Can I change the PIN that was mailed to me for my First South VISA® debit card?
No. If you use a credit card or line of credit to cover your overdrafts, your credit card and/or
line of credit will no longer be available for overdraft protection. Bank of America is retaining
your credit card and/or line of credit account.
You may change your PIN at any time after December 15th by visiting any First South ATM.
We currently offer three (3) options for overdraft protection: a linked savings account, a Reserve Line of Credit or a Home Equity Line of Credit. Your overdraft protection is available to
cover debit card transactions, checks and debits. If you currently have a savings or money
market savings linked to your checking account for overdraft protection, you will continue
to have protection in place provided all your accounts transition to First South. If you would
like to establish an overdraft protection credit relationship with us, please stop by your local
branch beginning on December 15th. Subject to approval, we will link your line of credit to
your checking account.
Will the daily limits on my debit card and ATM card change?
VI SA ® DEBI T CAR D L I MI T S WI L L B E :
$505 for ATM withdrawals
$2,500 for Point-of-Sale Transactions
$5,000 for VISA Business Debit Card Point-of-Sale Transactions
ATM CARD LI M I T S WI L L B E :
$305 at the ATM
$300 for PIN based transactions
How will transactions post to my checking account?
Please refer to the Terms and Conditions of Your Accounts Booklet for details.
Will my interest rate on my checking and savings account change?
Interest rates on checking and savings accounts are subject to change daily. Your existing
checking and savings account will change to the rate we are currently paying on that
account type when the account is converted. Our interest rates are available at any branch
location and through Online Banking.
May I access all my accounts through my VISA® debit card or ATM card?
You may access up to four (4) checking accounts and four (4) savings and money market
savings accounts on your card.
What should I do if my debit or ATM card is stolen?
You may report your card lost or stolen by calling the Access Line at 888-317-0097. You can
also report it via Online Banking or Mobile Banking.
Do you offer money orders and Cashier’s Checks?
Will I be able to make deposits at ATMs?
We will no longer offer money orders. In place of Cashier’s Checks we offer Official Checks.
Yes.
FOR D E B I T CA RD A ND AT M S
When will I receive my First South VISA® debit or ATM card to replace my Bank of
America debit or ATM card?
You will receive your new First South VISA® debit or ATM card the week of December 1st. If
you have not received your new card and Personal Identification Number (PIN) by December
12th, please call our Customer Care Center at 888-993-7664.
When does First South make ATM deposits available?
The first $200 of a check deposit will be available immediately. If the check deposit is $200 or
less, the full amount of the deposit is available immediately. All funds in excess of $200 will be
made available the next business day.
What should I do if I have automatic payments linked to my debit card?
Notify any vendors of your new First South debit card number and expiration date effective
December 15th.
Will my debit card PIN change?
Yes. You will receive a separate mailing with your new PIN shortly after receipt of your debit
card or ATM card.
Does First South offer credit cards?
Along with our partner, Elan, we offer credit cards that allow you to track expenses, build
your credit history and earn rewards.
How do I activate my new First South VISA® debit card or ATM card?
You may activate your VISA® debit card or ATM card by performing a balance inquiry at
an ATM or conducting a PIN based Point-of-Sale transaction on December 12th after 9:30
p.m. You may also activate your VISA® debit card beginning December 15th through Online
Banking or Mobile Banking.
28
29
ONL I N E B A N KI N G A N D B IL L PAY M E N T
I am currently a Bank of America Online Banking customer. Will I need to sign up
again after this transition?
No. If you are currently an Online Banking customer most of your payees and single and recurring
payments will automatically transition to our online banking. Your User ID will remain the same. You
may reference the section of this Welcome Booklet entitled Electronic Banking on how to activate
your Online Banking account on December 15th. We will follow-up this activation information in a
separate letter which will be mailed a couple of weeks prior to the transition.
When I log in to Online Banking on December 15th, will I see my recent transaction
history?
No. We will not be able to transfer your transaction history. We recommend that you print or
download any additional history that you may need prior to December 12th.
I currently use Bank of America Online Bill Payment. Will my payees transfer to
First South?
If you currently use Online Bill Payment most of your payees and single and recurring
payments will automatically transition to our Online Bill Payment system. On or after
December 15th, log on to First South’s Online Banking to confirm your payees and payments
transferred acurately.
When will I receive more information regarding the transition of Online Banking?
A letter will be mailed or emailed to you a couple of weeks prior to transition.
MOBIL E BAN KING
I currently use Bank of America’s mobile app. Will I need to download First South’s
app after transition?
Yes. You will need to download First South’s Mobile Banking app from Google Play™ (Android™
devices) or the Apple® App Store. Additionally, you will need to first log in to Online Banking
from a personal computer on or after December 15th.
I currently use Bank of America’s text message banking. Will I need to sign up again?
Yes. You will need to register your phone for text message banking within First South’s Online
Banking on or after December 15th.
BUSIN ESS ON L I NE BANKI NG
Can ACH origination files, federal tax payments or state tax payments have an effective
date past December 12th?
Payments scheduled to execute through December 12th will be executed by Bank of America.
Payments scheduled to execute December 13th or later will be executed by First South.
No. First South is unable to accept any Business Online Banking files with an effective date
past December 12th. Any Bank of America initiated files with an effective date past December
12th will not be processed by First South. Beginning December 15th files can be initiated /
entered up to one month in advance of the effective date. Files must be submitted by the daily
ACH cut off time (4:00pm EST) at least two (2) business days prior to the effective date.
I currently use eStatements. Will my prior statements be available?
Can I set an Online Banking wire request value date after December 12th?
No. We will not be able to transfer your prior eStatements. If you wish to retain any past
statements, we recommend that you print or download them prior to December 12th.
No. First South is unable to accept any Business Online Banking wire requested value dated
after end of business on December 12th. Any Bank of America initiated wire transfer request
dated after December 12th will not be processed. Beginning December 15th wires can be
initiated or entered. Wires must be submitted by the daily wire cut off time; domestic is 5:00
p.m. EST and international is 4:00 p.m. EST to be completed the same day.
How will my Online Bill Payments be processed during the transition weekend?
Is First South’s Online Banking compatible with budgeting software?
Yes. Our Online Banking system allows you to download your account information to
Quicken® or QuickBooks®. We also are a Direct Connect Bank so you can access your Online
Banking through your Quicken® or QuickBooks® software.
If I use Quicken® or QuickBooks® will my current information still be available after
the transition?
In order to retain your current information, you will need to utilize the conversion kit offered
by Quicken® or QuickBooks® prior to December 12th.
If I have questions regarding my Business Online Banking account, who should I
contact?
Please contact our Business Online Banking Center at 844-375-0723.
If I currently utilize eCapture (Remote Deposit Capture), who do I contact for questions
and technical support?
Please contact our Business Online Banking Center at 844-375-0723.
What is First South’s myFinances?
30
myFinances is First South’s online financial management tool. This tool allows you to manage
all of your accounts, not just First South’s, on one easy to use dashboard. More information is
available on our website.
31
CER T I F I CAT E S O F DE P O S IT (C D ) A N D
INDI VI D U A L RE T I R E M E N T A C C O U NT S (IR A )
Will my CD and IRA continue to earn the same interest rate until the maturity date?
Yes, your CD and IRA will remain in the same term and earn the same interest rate until the
maturity date.
How do I renew my CD or IRA?
If your CD or IRA is in a term of five years or less, it will automatically renew at the maturity
date to a similar term at the prevailing interest rate for that term.
If your CD or IRA is in a term greater than five years, it will not automatically renew on the
maturity date. In this instance, you will receive a maturity notice and you will need to visit
your local branch to discuss a new term and interest rate.
Risk-Free CD/ IRA
If you currently have a Risk-Free CD or IRA you may continue to make unlimited, penalty free
withdrawals until the maturity date. At maturity, your CD and IRA will automatically convert to
a 9 month term and we will no longer honor the unlimited withdrawal feature
Money Market IRA
If you currently have a money market IRA you may continue to make additional deposits and
withdrawals without penalty.
Variable Rate IRA
If you currently have a variable rate IRA we will continue to honor the variable rate until
the maturity date of the CD. At maturity your IRA will convert to a similar term with a fixed
interest rate.
Will I receive a statement on my CD?
You will not receive a statement on your CD; however, you may view your interest deposit
through Online Banking.
Will I receive a statement on my IRA?
Yes. You will receive an annual statement along with a fair market value statement.
Will I receive a closing statement when I close my CD or IRA?
No.
Will I be able to make deposits and withdrawals from my IRA?
You may make contributions to an existing IRA. The early withdrawal penalty will not
be imposed if the IRA is at maturity or the IRA owner is over age 59 ½ or if the owner is
deceased or disabled.
Is interest for CDs and IRAs calculated differently at First South?
Yes. Interest on CDs is compounded daily and paid monthly, quarterly or at maturity (terms 12
months or less).
18-Month CD/ IRA Opt-Up
If you currently have an 18-month opt-up CD or IRA we will continue to honor the onetime interest rate adjustment until the maturity date. At maturity, your CD and IRA will
automatically convert to an 18 month term and we will no longer honor the one-time
interest rate adjustment.
32
33
M A P / L O C AT I O N S
CURRENT LOCATIONS / NEW LOCATIONS
Elizabeth City
Durham
Raleigh
Wilson
Greenville
Goldsboro
Morehead City
Wallace
Wilmington
34
Grantsboro
Kenansville
Hope Mills
Lumberton
Chocowinity
Kinston
New Bern
Fayetteville
Elizabethtown
Washington
Winterville
Kinston
Mt. Olive
Kitty Hawk
Kill Devil Hills
Tarboro
Rocky Mount
Buxton
C O N TA C T I N F O R M AT I O N
If you have questions about your account, your debit card, how to make a withdrawal at an
ATM or need assistance with online banking or bill payment, reach out.
To ensure a smooth transition, First South has established dedicated phone and email channels
just for our new customers.
PHO N E : 8 8 8 - 9 9 3 - 7 6 64
EMA I L : WE L CO M E @ FIR S T S O U T H N C . C O M
TR A N SI T I O N WE E K E N D C U S T O M E R C A R E C E N T ER HOURS
Saturday, December 13th and Sunday, December 14th
8:00 A.M. – 6:00 P.M.
REGU L A R CU ST O ME R C A R E C E NT E R H O U R S
Monday – Friday
8:00 A.M. – 7:00 P.M.
36