About Us

B & L Bank is a locally owned Federal Savings Bank and is committed to being a community – oriented financial institution that furnishes affordable services and products to the citizens in the markets it serves in Lexington, Wellington and Callao, Missouri. We'll work hard to earn your confidence and your business, and once you decide to bank with us, we'll work just as hard to keep you a satisfied customer.

B & L Bank
History

Financial
Statement

Security
Statement

Privacy
Statement

Our Bank Locations

Lexington, Mo.
205 S. 13th Street
P.O. Box 190
(Main Office)
660-259-2247
660-259-2384 FAX
Wellington, Mo.
558 & 224 Hwy
P.O. Box 310

816-934-2641
816-934-2716 FAX
Callao, Mo.
119 E 2nd Street
P.O. Box E

660-768-5511
660-768-5512 FAX
Lobby Hours
Mon – Thur 8:30am – 4:30pm
Fri 8:30am– 5:00pm
Sat 8:30am–12:00 noon
Lobby Hours
Mon – Thur 9:00am – 4:00pm
Fri 9:00am – 6:00 pm
Sat 9:00am – 12:00 noon
Lobby Hours
Mon – Thur 8:30am – 2:30pm
Fri 8:30am – 5:00pm
Sat 9:00am – 12:00 noon
Drive Thru Hours
Mon – Thus 8:00am–5:00pm
Fri 8:00am–6:00pm
Sat 8:00am–12:00 noon
Drive Thru Hours
Mon – Thur 8:30am–4:00pm
Fri 8:30am– 6:00pm
Sat 8:30am–12:00 noon
No Drive Thru service

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B & L Bank History

The B & L Bank was originally chartered in 1887 as a Missouri – chartered mutual savings and loan association under the name "The Building and Loan Association," and converted to a federal charter in June 1995. B & L bank is regulated by the OTS, its primary federal regulator, and the FDIC under the Savings Association Insurance Fund ("SAIF").

On April 6, 2001, B & L Bank and another local financial institution Lafayette County Bank, a state chartered commercial bank, merged with the B & L Bank being the survivor. Following the merger the merged bank had total assets of over $120 million.

In anticipation of the merger, a new bank building was constructed and occupied in March 2001 which is now the main banking facility located at 205 South 13th Street , Lexington, Missouri.

Lexington, Missouri is located in Lafayette County and on the southern bank of the Missouri river approximately 45 miles east of Kansas City, Missouri. Lexington, estimated population of 5,000, is the county seat. Lafayette County is predominately rural and contains several small towns, although the western portions are becoming bedroom communities for commuters to jobs in the Kansas City metropolitan area. Two additional locations were acquired through the merger which are in Wellington and Callao, Missouri. Wellington is located in Lafayette County and is 10 miles west of Lexington. Callao is located in Macon County and is 110 miles northeast of Lexington. Both communities are small and agriculture based.

The principal lending activity of B & L Bank is the origination of conventional mortgage loans. Its deposit base is primarily from the communities its serves. It offers a full line of commercial banking products.

B & L Bank is owned by Lexington B & L Financial Corp. which until March 2003 was publicly traded on the NASDAQ symbol ("LXMO").  For copies of current financial information on Lexington B & L Financial Corp. click on "Financial Tools ".

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Financial Statement

LEXINGTON B & L FINANCIAL CORP.

ANNOUNCES THIRD QUARTER EARNINGS

Lexington, Missouri (July 31, 2003) - Lexington B & L Financial Corp. (Nasdaq Small Cap- LXMO), announced lower earnings for the three and nine month periods ending June 30, 2003.  For the quarter ending June 30, 2003, net income amounted to $210,000, or $.31 cents per share diluted, compared to $235,000, or $.32 cents per share diluted, for the same period last year.  For the nine months ended June 30, 2003, net income amounted to $626,000, or $.91 cents per share diluted, compared to $648,000, or $.90 cents per share, for the comparable period a year ago. Lower earnings for the quarter can be attributed to lower net interest earnings attributable a smaller net interest spread and margin.

Net interest earnings of $825,000 and $2,404,000, respectively, for the quarter and nine-month period ended June 30, 2003, declined $62,000 and $134,000 for the same periods last year.  The declined can be attributed to an 36 basis point decline in the net interest spread to 1.94% and a 37 basis point decline in the net interest margin to 2.48% for the three-month period ended June 30, 2003.   Average earning assets for the quarter ended June 30, 2003 increased $8.7 million to $133.8 million.  For the nine-month period ended June 30, 2003, the net interest spread decline 8 basis points to 1.98% and the net interest margin declined 13 basis points to 2.54%.  Average earning assets were basically unchanged from the period a year ago, declining $700,000.

The provision for loan losses of $15,000 and $35,000 for the three and nine-month periods ended June 30, 2003, decreased $28,000 and $53,000, respectively, from the comparable periods last year.  Net loan charge offs for the nine months ended June 30, 2003 of $11,000 declined $76,000 from the same period last year.

Non-performing loans at June 30, 2003 totaled $1,273,000 compared to $946,000 last year.  Classified assets at June 30, 2003 compared to December 31 and June 30, 2002, were as follows:

                                                   June 30, 2003           December 31, 2002       June 30, 2002

  Watch/Special Mention            $1,905,000                $1,730,000                      $430,000                          

  Substandard                                   307,000                       64,000                        397,000

  Doubtful                                          63,000                        64,000                         62,000

The increase in watch and special mention category is the result of improved review procedures and strengthen internal loan review process initiated this fiscal year.

Non-interest income for the quarter and nine-month periods ended June 30, 2003 increased $48,000 and $134,000, respectively, from the comparable periods last year.  The increase can be attributed to an increase in service charge fee income and to mortgage loan fee income generated through increased new loan volume from the mortgage affiliate.

Non-interest expenses increased $35,000 and $121,000, respectively, for the three and nine-month periods ended June 30, 2003.   For the quarter ended June 30, 2003, the increase can be attributed to a $24,000 increase in employee compensation expense which can be attributed to commissions earned by employees in B & L Mortgage which are compensated based on mortgage loan fee income.  Also, contributing to the increase in non-interest expenses was a $50,000 contribution to a local community project.

Income taxes for the nine months ended June 30, 2003 have been reduced by a $35,000 tax credit received on the contribution to a local community project.  The effective tax rate for the nine months ended June 30, 2003 before deducting the tax credit was 31.8%, compared to 30.7% for the same period last year.

Contact:  William J Huhmann

                President/Chief Financial Officer

                (660-259-2247)

 

 

LEXINGTON B & L FINANCIAL CORP

 

 

 

 

 

 

FINANCIAL HIGHLIGHTS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Three Mo

 

 

Ended

 

 

Nine Months

 

 

Ended

 

 

 

             June 30,

 

                    June 30,

 

 

 

 

2003

2002

2003

2002

 

 

Per share Data

 

 

 

 

 

 

 Basic earnings per share

$0.31 

$0.33 

$0.91 

$0.91 

 

 

 Diluted earnings per share

$0.31 

$0.32 

$0.91 

$0.90 

 

 

 Cash dividends

$-     

  $-     

  $0.40 

  $0.30 

 

 

Selected Ratios

 

 

 

 

 

 

 Return on average assets

0.54%

0.63%

0.62%

0.64%

 

 

 Return on stockholders' equity

5.22%

5.64%

5.64%

5.91%

 

 

 Efficiency ratio

67.91%

65.44%

69.69%

66.72%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At 

 

 

 

 

 

 

June 30,

September 30,

 

 

 

 

 

2003

2002

 

 

Book value (tangible)

 

 

$19.94 

$19.24 

 

 

Market price (closing price at end of period

 

 

$18.25 

$14.38 

 

 

Selected Ratios:

 

 

 

 

 

 

 Net loans to deposits

 

 

77.59%

78.85%

 

 

 Allowance for loan losses to loans

 

 

0.93%

0.98%

 

 

 Equity to total assets

 

 

10.23%

11.24%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LEXINGTON B & L FINANCIAL CORP.

 

 

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

 

 

(Dollars in thousands)

 

 

 

 

 

 

June 30,

September 30,

 

2003

2002

ASSETS

(Unaudited)

 

Cash and due from banks

  $2,348 

  $2,108 

Interest-bearing deposits

  11,427 

  6,909 

Investment securities

 

 

  Available-for-sale, at fair value

  34,743 

  31,711 

  Held-to-maturity (fair value of $3,939 and $4,979, respectively,)

  3,723 

  4,814 

Federal funds sold

  2,887 

  2,466 

Stock in Federal Home Loan Bank of Des Moines ("FHLB")

  1,081 

  1,017 

Loans held for sale

  430 

  420 

Loans receivable, less allowance for loan losses of $767 at

 

 

  June 30, 2003 and $743 at September 30, 2002

  81,664 

  75,215 

Accrued interest receivable

  933 

  1,023 

Premises and equipment

  3,848 

  3,512 

Cost in excess of net assets acquired

  789 

  789 

Other assets

  1,417 

  1,439 

TOTAL ASSETS

  $145,290 

  $131,423 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY

 

 

Liabilities

 

 

  Deposits

  $105,256 

  $95,386 

  Advances from borrowers for taxes and insurance

  121 

  168 

  Advances from FHLB

  21,556 

  20,164 

  Securities purchased not settled

  2,533 

  - 

  Dividend payable

  106 

  - 

  Other liabilities

  853 

  926 

TOTAL LIABILITIES

  130,425 

  116,644 

 

 

 

STOCKHOLDERS' EQUITY

 

 

  Preferred stock, $.01 par value; 500,000 shares authorized, none issued

  - 

  - 

  Common stock, $.01 par value; 8,000,000 shares authorized,

  

 

    1,265,000 shares issued

  13 

  13 

  Additional paid-in-capital

  12,402 

  12,356 

  Retained earnings - substantially restricted

  10,864 

  10,525 

  Accumulated other comprehensive income

  112 

  124 

  Unearned ESOP shares

  (281)

  (358)

  Treasury stock at cost (559,110 and 539,636 shares, respectively)

  (8,245)

  (7,881)

TOTAL STOCKHOLDERS' EQUITY

  14,865 

  14,779 

TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY

  $145,290 

  $131,423 

 

 

 

LEXINGTON B & L FINANCIAL CORP.

 

 

 

 

CONSOLIDATED STATEMENTS OF INCOME

 

 

 

 

(Dollars in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

    Nine Months Ended

 

 

               June 30,

 

                 June 30,

 

 

2003

2002

2003

2002

 

(Unaudited)

 

          (Unaudited)

 

Interest Income

 

 

 

 

  Mortgage loans

  $958 

  $1,028 

  $2,925 

  $3,263 

  Other loans

  442 

  377 

  1,234 

  1,063 

  Investment securities and interest-bearing deposits

  353 

  541 

  1,075 

  1,685 

  Federal funds sold

  6 

  13 

  23 

  52 

TOTAL INTEREST INCOME

  1,759 

  1,959 

  5,257 

  6,063 

Interest Expense

 

 

 

 

  Deposits

  695 

  846 

  2,192 

  2,864 

  Advances from FHLB

  239 

  224 

  661 

  655 

  Notes payable

  - 

  2 

  - 

  6 

TOTAL INTEREST EXPENSE

  934 

  1,072 

  2,853 

  3,525 

  NET INTEREST INCOME 

  825 

  887 

  2,404 

  2,538 

Provision for loan losses

  15 

  43 

  35 

  88 

Net Interest Income After Provision for loan losses

  810 

  844 

  2,369 

  2,450 

Noninterest Income

 

 

 

 

  Service charges and other fees

  151 

  105 

  431 

  298 

  Commission, net

  6 

  4 

  16 

  17 

  Income (loss) from foreclosed assets

  - 

  - 

  - 

  - 

  Gain ( loss) on sale of investments

  - 

  - 

  2 

  1 

  Other

  14 

  14 

  43 

  42 

TOTAL NONINTEREST INCOME

  171 

  123 

  492 

  358 

Noninterest Expense

 

 

 

 

  Employee compensation and benefits

  381 

  357 

  1,106 

  1,072 

  Occupancy costs

  77 

  82 

  228 

  234 

  Advertising

  9 

  7 

  31 

  24 

  Data processing

  67 

  61 

  174 

  160 

  Federal insurance premiums

  4 

  5 

  12 

  13 

  Professional and consulting fees

  24 

  25 

  75 

  79 

  Contributions

  1 

  - 

  51 

  1 

  Other

  104 

  95 

  317 

  290 

TOTAL NONINTEREST EXPENSE

  667 

  632 

  1,994 

  1,873 

INCOME BEFORE INCOME TAXES

  314 

  335 

  867 

  935 

Income taxes

  104 

  100 

  241 

  287 

NET INCOME

  $210 

  $235 

  $626 

  $648 

 

 

 

 

 

Basic Earnings Per Share

  $0.31 

  $0.33 

  $0.91 

  $0.91 

Diluted Earnings Per Share

  $0.31 

  $0.32 

  $0.91 

  $0.90 

 

 

 

 

 

LEXINGTON B & L FINANCIAL CORP.

 

 

CONSOLIDATED STATEMENTS OF CASH FLOW

 

 

 

Nine  Months Ended

 

 

              June 30,

 

 

2003

2002

CASH FLOWS FROM OPERATING ACTIVITIES

               (unaudited)

 

Net income

 $626

 $648

Adjustments to reconcile net income to net cash provided by operating activities

 

 

  Depreciation and amortization

 147

 147

  Amortization of premiums and discounts

 330

 289

  Amortization of deferred loan fees

 13

 16

  Provision for salary continuation plan costs

 37

 35

  Provision for loan losses

 35

 88

  Originations of loans held for sale

 (8,393)

 (4,204)

  Proceeds from sale of loans held for sale

 8,383

 4,084

  ESOP shares released

 123

 103

  Amortization of MRDP

 -

 21

  Changes to other assets and liabilities increasing (decreasing) cash flows, net

 12

 (198)

NET CASH FLOW PROVIDED BY OPERATING ACTIVIES

 1,313

 1,029

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 Proceeds from maturities/sales of securities available-for-sale

 18,054

 14,721

 Proceeds from maturities/sales of securities held-to-maturity

 1,083

 1,085

 Purchase of securities available-for-sale

 (18,901)

 (27,824)

 Purchase of securities held-to-maturity

 -

 -

 Purchase of loans

 (4,725)

 (11,433)

 Purchase of FHLB stock

 (64)

 (399)

 Net (increase) decrease in federal funds sold

 (421)

 (688)

 Loans originated, net of repayments

 (1,772)

 11,649

 Purchase of premises and equipment

 (478)

 (39)

NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES

 (7,224)

 (12,928)

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 Net increase (decrease) in deposits

 9,870

 (4,301)

 Net increase (decrease) in advances from borrowers for property taxes/insurance

 (47)

 (90)

 Proceeds from FHLB advances

 5,000

 10,000

 Repayments of FHLB advances

 (3,608)

 (138)

 Payment of dividends

 (181)

 (115)

 Purchase of treasury stock

 (365)

 (47)

NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES

 10,669

 5,309

NET INCREASE (DECREASE) IN CASH

 4,758

 (6,590)

Cash and due from banks, beginning of year

 9,017

 13,251

CASH AND DUE FROM BANKS, END OF YEAR

 $13,775

 $6,661

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

 

 

  Cash paid for Interest

 $2,894

 $3,630

  Cash paid for income taxes

 $254

 $271

  Noncash investing and financing-loans to facilitate sale of real estate

 $-

 $-

 

 

 

 

                                                    LEXINGTON B & L FINANCIAL CORP.

 

 

 

 

 

 

 

 

                           CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

 

 

 

 

 

 

 

 

                   

 

    (Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

Additional

 

Other

Unearned

Unearned

 

Total

 

Common

Paid-in

Retained

Comprehensive

ESOP

MRDP

Treasury

Stockholders'

 

Stock

Capital

Earnings

Income

Shares

Shares

Stock

Equity

Balance at September 30, 2001

$13 

$12,316 

$9,865 

$90 

($460)

($21)

($7,247)

$14,556 

 

 

 

 

 

 

 

 

 

Net income

  - 

  - 

  888 

  - 

  - 

  - 

  - 

  888 

Other Comprehensive income

  

 

 

 

  

 

 

 

 (loss), net of tax $19

  - 

  - 

  - 

  34 

  - 

  - 

  - 

  34 

Repurchase of common stock

  - 

  - 

  - 

  - 

  - 

  - 

  (634)

  (634)

Release of ESOP shares

  - 

  40 

  - 

  - 

  102 

  - 

  - 

  142 

Release of MRDP shares

  - 

  - 

  - 

  - 

  - 

  21 

  - 

  21 

Dividends paid ($.30 per share)

  - 

  - 

  (228)

  - 

  - 

  - 

  - 

  (228)

 

 

 

 

 

 

 

 

 

Balance at September 30, 2002

  $13 

  $12,356 

  $10,525 

  $124 

  $(358)

  $- 

  $(7,881)

  $14,779 

 

 

 

 

 

 

 

 

 

                     (Unaudited)

 

 

 

 

 

 

 

 

Net income

  - 

  - 

  626 

  - 

  - 

  - 

  - 

  626 

Other Comprehensive income

 

 

 

 

 

 

 

 

 (loss), net of tax benefit $(5)

  - 

  - 

  - 

  (12)

  - 

  - 

  - 

  (12)

Repurchase of common stock

  - 

  - 

  - 

  - 

  - 

  - 

  (364)

  (364)

Release of ESOP shares

  - 

  46 

  - 

  - 

  77 

  - 

  - 

  123 

Dividends paid ($.40 per share)

  - 

  - 

  (287)

  - 

  - 

  - 

  - 

  (287)

 

 

 

 

 

 

 

 

 

Balance at June 30, 2003

  $13 

  $12,402 

  $10,864 

  $112 

  $(281)

  $- 

  $(8,245)

  $14,865 

 

 

 

 

 

 

 

 

 


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Security Statement

B & L Bank employs the latest in Internet Security and User Authentication to ensure that data being transmitted through the Internet Banking System is secure from unauthorized access. The methods are outlined below.

Digital IDs from Verisign
B & L Bank’s IBS system uses digital IDs certified by VeriSign, an industry leader in digital identification certificates, to authenticate user information and provide access to the data through the system.

Digital IDs work off a matched key setup where the server has a “private” key issued only to the server and a “public” key widely distributed to the bank’s customers. A digital ID requires a matched pair of keys that are unique to each other to encrypt and decrypt data. With this setup, transactions created, encrypted, and transmitted by bank customers using the public keys can only be decrypted by the other key running on the server.

Secured Data Transmission
The Internet Banking System combined with digital ID authentication through VeriSign allow the server to implement Secure Sockets Layer (SSL) protocol, the standard technology for secure web-based communications. With SSL, data traveling between the bank and the customer is encrypted and can only be decrypted through the pairing of the public and private key pair.

SSL capability is built into server hardware and browsers, but requires a digital ID to be functional.

Server Access
Server access is protected using a firewall computer and the leading firewall software. Firewall computers provide secure access to the Web Server and its software by only allowing authorized traffic to hit the Server.

By combining the latest technology with authenticated access to the Web Server, B & L Bank makes your Internet Banking transactions secure.

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PRIVACY POLICY

We believe that your privacy on the internet is extremely important. For this reason, B & L Bank does not trade, sell or rent personal information collected about you to any third parties. We realize that our customers entrust us with personal information and it's our policy to maintain our customers’ information in a confidential manner. We are committed to providing the highest level of security and privacy regarding the collection and use of our customers’ personal information, as well as personal information of all consumers who visit our institution and website.

It is B & L Bank’s policy not to reveal, disseminate or sell specific information about customer accounts or other personally identifiable data to unaffiliated third parties for their independent use, except for the exchange of information with reputable information reporting agencies to maximize the accuracy and security of such information or in the performance of bona fide corporate due diligence or business matter, unless:

(1) information is provided to help complete a customer initiated transaction;
(2) customer requests or permits it;
(3) disclosure is required by or allowed by law. (i.e. subpoena)
(4) or, the customer has been informed about the possibility of disclosure for marketing or similar purposes through a prior communication and given the opportunity to decline (i.e.“opt out”)

Visitors to our public website remain anonymous. We do not collect personally identifying information “cookies” about visitors to our site. We do use standard software to collect non-identifying information “Web Site Log” about our visitors, such as:

If you use our  Banking Internet Online Banking system to do routine inquiries or transfers on your accounts, we may collect and store the following information about you:

Visitors may choose to provide us with personal information via e-mail. When using e-mail, please do no include confidential information such as account numbers or social security numbers. E-mail messages are unsecured transmissions. This information is used internally, as appropriate, to handle your request.

We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information.

If you ever feel online privacy has been compromised or security breached, please contact us at the address and phone number below:

B & L Bank
P.O. Box 190
205 S. 13th Street
Lexington, Missouri 64067
660.259.2247
Ask or direct written communication to Internet Online Banking Administrator

 

ONLINE ACCESS AGREEMENT AND

FEDERAL ELECTRONIC FUNDS TRANSFER ACT DISCLOSURE

WELCOME TO  ONLINE BANKING.


ACCEPTANCE OF TERMS:  This Online Banking Agreement (this “Agreement”) contains the terms and enrollment form that govern your use of the 24-Hour Internet Online Banking Service. In this Agreement we will use the word "Online Service” to refer to 24-Hour Internet Online Banking Service.  Upon accessing this site, you acknowledge that you will or have read and agree to abide by the terms and conditions described below.  Your use and browsing of this site is at your own risk.  Should you decide not to agree to the following terms and conditions, you should exit this site.

You may use any service provider to access your Eligible Accounts through the Internet. Other service functions are also available through this Internet access.  The information and materials contained in these pages, and the terms, conditions and descriptions of the products and services that appear, are subject to change and may be revised by from time to time without prior notice.  Your continued use of our 24-Hour Internet Online Banking Service following any changes or revisions shall constitute your acceptance of such changes or revisions.

Use of this site is expressly conditioned on your acceptance of the following terms and conditions.  This Agreement governs in conjunction with other agreements between us, including but not limited to your signature card, our rules governing deposit accounts, fee schedules, electronic funds transfer agreement and disclosure, loan agreement(s) and bill payments authorization and agreement.  If the terms and conditions of this Agreement conflict with those contained in the other agreements between us, this Agreement controls.  If you do not agree with any part of the terms and conditions in this Agreement, you must not use this site.  Use by you or by any person authorized by you of this site indicates your agreement to these terms and conditions and any instructional material which we provide you regarding the Service.

Information about products and services described is for informational purposes only and should not be considered as an offer to make those products and services available to you.  You may not be eligible for all of the products and services described.  Your eligibility for any product and service is subject to final determination and acceptance by B & L Bank.

Nothing provided in the Web site is intended to provide legal, accounting, financial, or tax advice.  You should consult your own professional advisor on such matters.

You are prohibited from posting or transmitting any unlawful, threatening, obscene, libelous, or otherwise offensive material.

DEFINITIONS: 
In this Agreement, the words “we,” “us,” and “our” refers to, and any of our affiliates, and their successors or assigns.  “You” or “your” refers to the owner of an Eligible Account or an authorized representative.  “Account”,  “accounts” , “eligible account” means the  account(s) tied to  your customer identification access code used through our Online Banking Service to conduct banking transactions or bill payments.  “Authorized representative” refers to a person with authority of any kind with respect to an Eligible Account or an Online Banking Transaction;
  “Electronic Fund” means ATM withdrawals, preauthorized transactions, point of sale transactions, transfers to and from your account using Service including bill payments.  Business Days” means every Monday through Friday excluding Holidays.

EQUIPMENT REQUIREMENTS:  Online Service requires a personal computer (“PC”) equipped with a modem which runs at a speed of at least 56K baud.  To provide the highest degree of confidentiality and security, we require the use of browsers that provide encryption using a 128-bit key.   Internet browsers Microsoft Internet Explorer version 5.04.7 or higher or Netscape Navigator version 4.7 or higher provide the 128-bit key protection.  You are responsible for acquiring and maintaining this equipment and software.  It is recommended that you also acquire and maintain current Virus Protection software to protect your PC, software and data from computer “viruses” and other equipment or software problems and/or failures.  The Bank is not responsible for any electronic virus or viruses that you may encounter.  We encourage you to routinely scan your PC and diskettes using a reliable product.  Undetected or un-repaired viruses may corrupt and destroy your programs, files and even your hardware.   The Bank will not be responsible for any errors or failures from the malfunction or failure of your hardware or software.

ELIGIBLE ACCOUNTS:  Each product you have with us, that is enrolled in the Online Service, is called an “Eligible Account.” Examples of products that you may elect to enroll as Eligible Accounts include: checking accounts, savings accounts, money market accounts, certificates of deposits and loans.

You may use Online Service to perform any of the following services designated by you in the original application or subsequent application provided by you:

§         To receive and download balance and transaction information from Eligible Accounts;

§         To transfer funds between any authorized Eligible Accounts;

§         To obtain loan account balance information;

§         To make a loan payment through funds transfer between Eligible Accounts;

§         To initiate a stop payment on a check;

§         To order checks for your authorized accounts;

ACCESS TO ELIGIBLE ACCOUNTS:  To use Online Service, you must have at least one account with us, access to Internet service, and an e-mail address.  Once we have received your signed Enrollment Form, delivered in person to one of our offices, or faxed to 1-660-259-2384 or mailed to B & L Bank  P.O. Box,190, Lexington, MO 64067, and verified your account information, we will send you, by postal mail, confirmation of our acceptance of your enrollment, along with your assigned log-in ID and temporary password


You may access Eligible Accounts, as designated on your enrollment form, at the website at

www.bl-bank.com  to obtain balances, transaction history and other information.  Subject to the terms of this Agreement, you will generally be able to access your Eligible Accounts through the Website seven days a week, 24 hours a day.

At certain times, the Online Service may not be available due to system maintenance or circumstances beyond our control. During these times, you may use our touch-tone telephone banking service, a B & L Bank automated teller machine (“ATM”), by calling Customer Service at 1-660-259-2247during business hours, or one of our B & L Bank offices to obtain information about your Eligible accounts. 

ONLINE BANKING SERVICES:  You may use Online Service to obtain account information through our Website. This includes obtaining balance information, transaction history and other information on your Eligible Accounts. This information is as of close of business for the previous business day.

A transfer completed through Online Service before the transfer cutoff time on a business day will be posted to your Eligible Account the same day. All transfers completed after the transfer cutoff time on a business day or on a day that is not a business day, will be posted on the next business day. The transfer cutoff time is 3:00 p.m. (Central Time). The following cutoff times pertain to additional Online Banking Service transactions:

                                    Funds Transfer              6:00  p.m.

                                     Loan Payment             6:00  p.m.

Stop Payment              6:00  p.m. 

                                   

All electronic communications that we receive from you on the bl-bank.com site that meet identity requirements will be deemed valid, authentic and binding obligations.  You intend and agree that these electronic communications will be given the same legal effect as your written and signed paper communications and shall be deemed for all purposes to have been “signed” and to constitute an “original” when printed from electronic files or records established and maintained in the normal course of business.  You agree that electronic copies of communications are valid and you will not contest the validity or enforceability of such transactions, absent proof of altered data or tampering.


The Bank may from time to time, introduce new Online Banking Services. When this happens we will update our Website to include them. Your use of new Online Banking Service will be governed by the terms of this agreement.

OVERDRAFTS (Order of Payments, Transfers, and other Withdrawals):  If your Eligible Account has insufficient funds to perform all electronic fund transfers you have requested for a given business day, then:

LINKED ELIGIBLE ACCOUNTS:  All Eligible Accounts will be linked in accordance with the Online Banking agreement form, allowing viewing and access.

LIMITS ON AMOUNTS AND FREQUENCY OF SERVICE TRANSACTIONS:  The number of transfers from Eligible Accounts and the amounts that may be transferred are limited pursuant to the terms of the applicable deposit agreement and disclosure for those accounts.  According to Federal Regulations, you may not make more than six (6) preauthorized or automatic transfers from your money market or savings account during the monthly statement period. 

If a hold has been placed on deposits made to an account from which you wish to transfer funds, you cannot transfer the portion of the funds until the hold expires.

STOP PAYMENT REQUEST

Online stop-payment requests submitted by 6:00 p.m. (Central Time) will be effective the next  the business day.  To be effective, this type of stop-payment request must precisely identify the name of the payee, the check number (if applicable), the amount and the date of the check or bill pay transaction.  If you make your stop-payment request online or by telephone, we will require you to put your request in writing and get it to us within 14 days after you call.  You will incur stop-payment charges as disclosed in the current fee schedule for the applicable account.  You may not stop payment of any type of online transfer or debit card transactions. 

We will make every effort to act upon your stop-payment order, however, we are not responsible for failing to stop if the transaction you wish stopped has been insufficiently described to us, has already been paid, or if your stop payment notice was not received in time or at a place for us to have reasonably acted upon it before the transaction became final.

AUTHORIZED REPRESENTATIVES FOR BUSINESS ACCOUNTS:  If a business owns an authorized account, any authorized representative of your business is authorized on such terms, conditions, and agreements as we may from time to time require to:

§         Enter into this Agreement, as amended from time to time;

§         Access each Eligible Account of yours in any manner and for any purpose available through the Service, whether now or in the future; and

§         Use any Online Banking Service in any manner and for any purpose available through the Service, whether now or in the future.

OUR LIABILITY FOR FAILURE TO MAKE A TRANSFER:  If we do not complete a transfer to or from your account, on time or in the correct amount, according to our agreement with you when you have properly instructed us to do so, we will be liable to you for your losses or damages caused as a result.  However, there are some exceptions.  We will NOT be liable, for instance:

Except to the extent that we are liable under the terms of this Agreement or an agreement that otherwise governs your Eligible Account, if you are an owner of an Eligible Account, you agree to indemnify and hold us, our directors, officers, employees and agents harmless from all loss, liability, claims, demands, judgements, and expenses arising out of or in any way connected with an Eligible Account or the performance of an Online Service. This indemnification is provided without regard to whether our claim for indemnification is due to the use of the Online Service by you or your authorized representative.

Our duties and responsibilities to you are strictly limited to those described in the Agreement, except with respect to any provisions of the law applying to electronic fund transfers that cannot be varied or waived by agreement.  In no event will the Bank be liable for any consequential, special, or punitive damages or for any indirect loss that you may incur or suffer in connection with the service (even if the Bank has been informed of the possibility of such damages), including, without limitation, attorneys fees.  The Service Provider is an independent contractor and not the Bank’s agent.  The Bank’s sole duty shall be to exercise reasonable care in the initial selection of the Service Provider.   

YOUR LIABILITY AND RESPONSIBILITY FOR UNAUTHORIZED TRANSFERS:  If you believe that your password may have been lost or stolen, or that someone has transferred or may transfer money from your account without your permission, or if you suspect any fraudulent activity on your account, notify  immediately by calling Customer Service at 1-660-259-2247or in writing to B & L Bank,  P. O. Box 190, Lexington, Mo.  64067.  

You could lose all of the money in your accounts (plus your maximum overdraft line of credit, if any).  If you contact us within 2 business days after you learn of the loss, theft, compromise, or unauthorized use of your password, you can lose no more than $50 if someone used your password without your permission.  If you do NOT contact us within 2 business days after you learn of the loss, theft, compromise, or unauthorized use of your password, and we can prove we could have stopped someone from using your password to access your accounts without your permission if you had told us, you could lose as much as $500.00.

Also, if your paper statement shows transfers that you did not make, contact us at once.  If you do not tell us within 60 days after the paper statement was mailed to you, you may not get back any money you lost through transactions made after the 60 day time period if we can prove that we could have stopped someone from taking the money if you had told us in time.  If a good reason (such as a long trip or hospital stay) kept you from contacting us, we will extend the time periods. 

IN CASE OF ERRORS OR QUESTIONS ABOUT ELECTRONIC FUND TRANSFERS, including Bill Payments:  Contact us as soon you can, if you think your paper statement is wrong, or if you need more information about a transfer listed on your paper statement.

The telephone number and address of the person or office to be notified when you believe that an unauthorized EFT has been or may be made are:

  • Customer Service at  1-660-259-2247, during regular business hours
  • B & L Bank
    P.O. Box
    190
    Lexington, MO. 
    64067

When you contact us:

If you contact us by telephone, we may require that you send us your complaint or question in writing by postal mail or fax within 10 business days.

We will communicate to you the results of our investigation within 10 business days after you contact us and will correct any error promptly.   If we need more time, however, we may take up to 45 days to investigate your complaint or question.  If we decide to do this, we will provisionally credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation.  If we ask you to put your complaint or question in writing and WE DO NOT receive it in the form of a paper writing within 10 days, we may provisionally credit your account.  We will send you a written explanation within 3 business days after we finished our investigation.  You may ask for copies of the documents that we used in our investigation.

 If a notice of error involves an electronic funds transfer that was initiated in a location outside the United States, the applicable time period for action shall be (20) business days in place of ten (10) business days, and ninety (90) calendar days in place of forty five (45) calendar days.  If we have made a provisional credit, a corresponding debit will be made from your account.

If we have reasonable proof, within our sole discretion, that the merchant has received your bill payment, we will not credit your account.  We will make every effort to work with the merchant to resolve the issue on your behalf.  In our investigation of bill payment transactions, we will request from a merchant a refund of any interest and/or fees, which you may have been assessed.  You will be notified of the final resolution.

SECURITY:  You will be given a password that will give you access to your Eligible Accounts. This password can be changed within the Online Service. We recommend that you change your password regularly.  We recommend that you create a password that utilizes between 8 and 17 digits containing at least 4 lower case alpha and 4 numeric characters for purposes of security.  Your password should not be associated with any commonly known personal identification, such as social security numbers, address, date of birth, or names of children.   We are entitled to act on instructions received under your password. For security purposes, it is recommended that you memorize the password and do not write it down. You are responsible for keeping your password and Eligible Account information confidential.

We require the use of a 128 bit secure browser to login to your account and perform transactions.  Netscape Navigator or Microsoft Internet Explorer are both secure browsers.  If you are not using one of these browsers, or feel your browser does not meet the security requirements of

www.bl-bank.com, use one of the following links to download and upgrade browser.

                        www. Microsoft@Internet Explorer or http://www.netscape/ Navigator

Secure browsers employ Secure Sockets Layer (SSL) technology to communicate with servers.  The technology encrypts or scrambles the communication (ie, your account information) so it’s virtually impossible for anyone other than THE BANK or its affiliates to read it.

Upon five unsuccessful attempts to use your password, your access to Online Service will be revoked.  To re-establish your authorization to use Service, you must contact us by calling Customer Service at 1-660-259-2247 to have your password reset or to obtain a new temporary password.

LINKS:  Links to non- websites contained in this site are offered only as pointers to sources of information on subjects that may be of interest to users of the B & L Bank’s website, and  is not responsible for the content of such sites as we have no control over what is displayed there.   THE

B & L BANK does not guarantee the authenticity of documents at such sites, and links to non- sites does not imply any endorsement of or responsibility for the ideas, opinions, information, products, or services offered at such sites.  Use of links to any non- site is solely at the user’s own risk.

GENERAL PROVISIONS

TERMINATION: Unless otherwise required by applicable law,  THE B & L BANK may terminate this Agreement and/or your access to any transaction through the Online Service, in whole or in part, at any time.

Access to the Online Services, in whole or in part, may be reinstated by us, at our discretion, at any time. If reinstated, the then current terms of this Agreement will control. You may request reinstatement of Online Service by calling our Customer Service at 1-660-259-2247.

If you wish to cancel any of your Online Services, contact THE B & L BANK at 1-660-259-2247 or send us cancellation instructions in writing to:
                                    B & L Bank

                                    Attn:  Customer Service

P.O. Box 190,             

Lexington, Mo. 64067

CHANGES:  Except as otherwise required by law, rule or regulation, we may change the terms of this Agreement from time to time and at any time. When changes are made we will update this Agreement at the Website. The Website will be updated on the effective date, unless an immediate change is necessary to maintain security of the system or unless a law, rule, or regulation requires that it be updated at an earlier time. As always, you may choose to accept or decline changes by continuing or discontinuing to use the Online Service.

DISCLOSURE OF INFORMATION:  You authorize us to disclose to third parties, affiliates, and agents, such as independent auditors, consultants or attorneys, information you have provided of that we or our affiliates have obtained about your accounts and the transfer you make:


FEES:  There are no monthly or transaction fees for accessing the Online Service for viewing your accounts, or completing transfers to and from your Eligible Accounts. Other fees may be assessed and billed separately by your internet service provider.

To the fullest extent permitted by applicable law, you authorize us to obtain payment of your obligation to us under the Agreement from time to time by initiating debit or credit transfers to any of the accounts. At the time any account is closed, or any Online Service is terminated (whether by you, by us, or otherwise) you agree that all such obligations will be immediately due and payable to us, and you authorize us to withhold the amount of any such obligations from any account.  Debiting an account is not the Bank’s exclusive remedy under this or any other section of the Agreement and the Bank will not be deemed to have made an election of remedies by making any such debit or deduction on any one or more occasions.

Telephone Charges:  You will be responsible for any telephone charges which you incur by using the Online Service.

MISCELLANEOUS FEES AND CHARGES:  The fees that have been separately disclosed to you in connection with your Eligible Account(s) will continue to apply to those account(s).

ADDRESS CHANGES:  It is your responsibility to ensure that the contact information in your user profile is current and accurate.  This contact information includes, name, address, phone numbers, e-mail address and account numbers.  Changes can be made either via secure message within Online Service or by U. S. Mail.  We are not responsible for any payment processing errors or fees incurred by you if you do not provide accurate account or contact information.

ASSIGNMENT:  You may not assign all or any part of your rights or obligations under this Agreement without our prior express consent, which may be withheld in our sole discretion.  We may assign or delegate all or any part of our rights or obligations under this Agreement, including, without limitation, the performance of the services described herein.  This Agreement will be binding on and inure to the benefit of the successors and assigns of either party.


 

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