Farmers State Bank is now offering another type of Overdraft Protection called Ready Reserve. Ready Reserve means that we have pre-approved a personal, unsecured loan that will advance and transfer funds to a customer s checking account to prevent the account from becoming overdrawn. This is a program that is becoming more popular with our checking account customers, stated Vice President Timothy Alley. Customers have been asking about Ready Reserve for the past year and we felt that it was time to implement the program. Ready Reserve is designed to end complications, charges, and embarrassing delays that result from an overdrawn checking account.
Customers can use their good credit history to qualify for our plan.
The customers checking account can then become a personal loan account. Customers can write their own loan any time they need extra money for personal expenses or an emergency up to a pre-set limit. If you would like to discuss the Ready Reserve program, stop in and see one of our loan officers to complete an application. In June of 2001, James David Bormann became a fourth generation banker at the main office in Parkston. J.D. is the son of CEO Robert Bormann, the Grandson of Vern Bormann who founded the bank in Parkston in 1954, and the Great-Grandson of Frederick G. Bormann who founded the bank in Beardsley, S.D. in 1919.