Deposit Agreement & Disclosure


This Deposit Agreement and Disclosure (“Deposit Contract”) describes the terms of each of your deposit accounts with the Bank. If there is more than one owner (“account-holder”) of your account, the word “you” in this Deposit Contract will refer to each account-holder. It is important that you carefully review this Deposit Contract and keep it for your later reference because it contains important information about your account, important terms and agreements by the Bank that can be enforced by you and important terms and agreements by you that can be enforced by the Bank.


All deposits other than cash deposits will be accepted by the Bank subject to actual collection of the check, draft or other deposited item (“item”) by the Bank. The Bank may in some cases give immediate credit for the item. In other instances the Bank may put a “hold” on a deposited item to allow for the time the Bank expects it will take to collect the item from the financial institution upon which it is drawn. If a hold is placed on a deposit you will be notified and advised of the length of the hold. You will not be able to withdraw a deposit being held until the hold is released. Please refer to the Bank’s Disclosure of Funds Availability Policy for details. You will receive copy of this disclosure when you open your account. The Bank also reserves the right to accept items on a collection basis only, in which case the item will not be considered deposited to your account or available for withdrawal unless and until actual payment of the item is received by the Bank.

You authorize the Bank to endorse and collect any item payable to you or your order whether or not you have endorsed the item and whether the item is deposited to your account or the Bank cashes the item for you. This authorization also applies if you improperly endorse any item payable to you or your order.

You understand that while the banking system is quite efficient, items are sometimes lost or delayed in transit and mistakes sometimes occur. The Bank will exercise ordinary care when it handles your deposit or a check that the Bank has cashed for you. However, the Bank will not be responsible if an item is delayed or lost in transit after it leaves the Bank, if the item is lost by the Bank despite the maintenance by the Bank of a processing, tracking and filing system designed to eliminate or substantially control such losses or if the item is lost by another bank, clearinghouse or transit operator attempting to collect or transport the item for the Bank on your behalf.

You also authorize the Bank to reverse any deposit credit given to your account and to charge your account in connection with an item the Bank has cashed for you if the item is not paid by the institution upon which it is drawn (whether or not you have been allowed to withdraw the funds) or the person who drew the item or any other person or financial institution claims that any other required endorsement on the item (such as that of a co-payee or previous payee) is forged, unauthorized or missing.

The Bank reserves the right to refuse any deposit you want to make if it does not conform to the Bank’s standards for deposits or if the Bank has a limitation on the size of any account balance for the type of account you have.

Withdrawals, Generally

Withdrawals of all or any part of your account balance will be permitted as authorized on the signature card for your account. This means that the Bank may allow anyone with signing authority over your account, as shown on the signature card, to withdraw up to the entire amount in your account without the express and specific concurrence of any other signer on your account unless the signature card for your account expressly states otherwise. In other words, no agreement between you and any other authorized signer on the account which limits the other signer’s authority over the account will be binding on the Bank unless the signature card for your account reflects the terms of that agreement.

Depending upon the type of your account, withdrawals may occur upon presentation of a preprinted personalized check, a temporary check, a counter-check or another form of withdrawal, including a withdrawal order initiated by a third party drawing a draft on your account or initiating an electronic fund transfer if the third person is authorized to do so by you or any other person with signing authority over your account. (Under certain conditions the Bank may also follow other forms of withdrawal instructions from you or others with signing authority over your account, such as instructions given by letter or over the telephone.) Withdrawals may occur even if you maintain control over all preprinted personalized checks, the passbook, certificate of deposit or other deposit record for your account because the Bank may not require that the person making the withdrawal present a preprinted check, the passbook, certificate or other deposit record, although the Bank reserves the right to do so, at its option. Therefore, if you want to assure that no one else can withdraw money from your account, you must either be the sole signer on your account and not authorize anyone else to withdraw or: (1) see to it that your signature card shows that your own signature or other authorization is required for all withdrawals, (2) instruct the Bank, in writing, not to issue an automatic teller machine (“ATM”) card for your account to anyone other than you, and (3) instruct the Bank, in writing, not to permit electronic funds or third party charges and withdrawals from your account other than those initiated through the use of an ATM card issued to you. Please note, however, that the Bank reserves the right to require presentation of any check, certificate or passbook before allowing withdrawals. (In this connection, if your deposit is evidenced by a negotiable certificate of deposit, withdrawals will be permitted only if the certificate is presented at the time of withdrawal or if the Bank is satisfied that the certificate has been lost or destroyed without having been endorsed and the Bank has received whatever assurances against loss it believes are appropriate to protect the Bank against loss if the certificate is later presented for payment.)

Electronic, including Automated Teller Machine, Withdrawals

Regardless of what your signature card indicates, if an ATM card has been issued to anyone who has an ownership interest in or signature authority over your account authorizes a third party to draw a draft on or to initiate an electronic fund transfer from your account, the Bank will honor the transaction even if more than one signature is normally required to authorize a withdrawal from your account. See the final paragraph in the Withdrawals section for important instructions if you want to restrict or prevent electronic (including ATM) withdrawals from your account. You will receive a separate disclosure concerning your rights under the Electronic Fund Transfer Act when you open an account for your personal, family or household use. (The Electronic Fund Transfer Act does not apply to business accounts.)

Limitations on the Number of Certain Withdrawals

If your account is a Delta Money Market Account, no more than 6 transfers are permitted during your monthly statement cycle. No more than 3 of these may be by check. If your account is a regular savings passbook account, no more than 3 transfers are permitted per month, none of which may be by check. For these accounts, a “transfer” includes any transfer to a third party and any transfer to another of your accounts at the Bank unless the transfer is initiated (at an automated teller machine), by mail, messenger or in person at the Bank.

Post-Dated Items

Portions of the Bank’s payment system have been automated to facilitate the efficient and economical processing of a large number of items each day. As a result, the Bank is unable to assure that it will refuse payment of a post-dated item before its stated date. You agree to notify the Bank, in writing, before you issue a post-dated item, so that the Bank can watch for it. Your notification must clearly describe the item so that the Bank can arrange to have its automated system identify the item for special handling. If you fail to do so, you authorize the Bank to pay or to refuse to pay the item before its stated date, at the Bank’s option. Notice of postdating is effective for 6 months, but will expire in 14 calendar days if not confirmed in writing during that time.

Stop Payment Orders

You have the right to order the Bank not to pay or honor an item or other withdrawal request. To be effective, your stop payment order must be written and signed and must reach the branch where your account is held soon enough to give the Bank a reasonable opportunity to act upon the order. The stop payment order must specifically identify the item you do not want paid. Because portions of the Bank’s payment system are automated, the Bank must know the exact amount of the item, to the nearest penny, the preprinted number of the item, as applicable, the payee of the item, the date of the item and the account number the item was drawn on. If you are unsure of any of these factors, it is important that you specifically so advise the Bank in your stop payment order, so that the Bank can take special steps to protect against minor mistakes you might have made in describing the item. You authorize the Bank to charge your account the Bank’s usual stop payment order fee if you use this service. If the Bank is asked to take special steps because you are unable to completely and accurately describe the item, the Bank will advise you of the amount of any additional charges for this special handling. Verbal stop payments must be authorized in writing. Notice of stop payment must be authorized in writing. Notice of stop payment is effective for 6 months, but will expire in 14 calendar days if not confirmed in writing during that time.


Interest on deposits to an interest-bearing account will begin no later than on the day after the Bank receives provisional credit for a deposited item as the item goes through the collection process. Interest paid on such deposits is subject to reversal if the item is not ultimately paid within 14 days.

If you close your interest-bearing account before interest has been credited to your account on the regular interest payment date for the account, no interest for the final interest payment period will be paid for that period calculated through the date your account is closed. Because the rates payable on the Bank’s interest-bearing accounts are subject to change from time to time, these details are not included in this document. A copy of the current interest rate schedule, which contains all of the details about interest not discussed in this document, will be supplied when you open your account and is available at each branch of the Bank upon request.

The Bank intends to adjust the interest rates payable on all of its deposit accounts as market conditions change from time to time. You agree that the Bank may change the rate(s) of interest payable on your deposit. (This agreement to rate changes does not apply to fixed rate time deposits during the terms of the deposit). You will be given notice of any of these changes only if the law requires it. Therefore, you should check with the Bank as frequently as you think is important to assure that the rate the Bank is then paying on your account is acceptable to you. (If your fixed rate time deposit is subject to renewal, the Bank may change the rate as of a maturity/renewal date upon advance notice to you. If you do not approve of the change you may withdraw your deposit at maturity, without penalty).

Early Withdrawal Penalty for Time Deposits

The Bank, in its discretion, may permit you to make an early withdrawal from a time deposit account. However, certain penalties may apply if the early withdrawal is permitted. The details about any applicable early withdrawal penalty will be furnished to you in a separate disclosure when you open your time deposit account.

Service and Other Charges

Depending upon the type of account you have, various charges may be imposed. Because the amount and types of these charges will change from time to time, details about these charges are separately described in the Bank’s Schedule of Rates and Charges. You agree that the Bank may change its Schedule of Rates and Charges from time to time and you agree to pay the charge imposed on your account according to the then effective schedule. You will be given notice of these changes only if the law requires it. Therefore, you should check with the Bank as frequently as you think necessary to assure that you are being or will be charged rates and fees that are acceptable to you. You will receive a copy of the current schedule when you open your account and additional copies are available at each branch of the Bank.

You understand that the fees and charges imposed by the Bank are developed as a whole, taking into account the Bank’s overall operating expenses, the direct expenses associated with the various services for which fees or charges are imposed (to the extent that these expenses can be segregated) and profit margins both from the particular services to which the fee or charge is associated and on an overall basis. You agree to pay these fees and charges knowing that they are not intended merely to reflect the actual costs to the Bank of performing the particular service.

Overdrawn Accounts

If your account is overdrawn because the Bank is unable to collect a deposit you have made to your account because the Bank intentionally or unintentionally pays an item when your account is overdrawn or has insufficient funds to cover the item or for any other reason, in addition to paying the Bank’s service charge for overdrafts you agree to pay the Bank the amount of the overdraft immediately upon the Bank’s demand. You understand that the Bank has no obligation to allow you to overdraw your account unless you have a separate overdraft agreement with the Bank covering the amount of the overdraft.


You understand that the law permits the Bank under some circumstances to charge your account to reduce or satisfy certain debts you owe the Bank. In addition to this right, you also agree that the Bank may charge your account to reduce or satisfy debts owed the Bank by any other account-holder for your account even if you are not personally responsible for the debt.

Legal Process

You understand that the Bank will be required to honor any properly served execution, attachment or other levy on your account by holding the attached amount for or paying the levied amount to the levying officer, or by complying with any other properly served order issued by a court or governmental agency, such as a taxing authority. Additionally, subpoenas, search warrants and other legal processes may compel disclosure of information about your account or any other business you may have with the Bank. Items received prior to 10 a.m. will be processed before payment of any Levy, Attachment, or Execution.

Information about You and Your Account

You understand that in addition to information furnished pursuant to legal process, some information about your account may automatically be disclosed to others. For example, the tax laws require disclosure to the government of the amount of the interest you earn, and some transactions, such as certain large currency and foreign transactions, must be reported to the government. The Bank may also provide information about your account to persons or companies the Bank believes would use such information for reasonable purposes, such as when a prospective creditor seeks to verify information you may have given in a credit application or merchant calls to verify a check you have written. The Bank may also seek information about you from others, such as a credit bureau, in connection with the opening or maintaining of your account. You authorize these transfers of information.

Inactive Accounts

California law requires that your account balance be turned over to the State if, for three consecutive years, you have not made a deposit or withdrawal, presented your passbook to have interest entered, written to the Bank concerning your account or otherwise indicated an interest in the account. This three-year period starts over again whenever you do any of these things, and for certificates of deposit it does not begin until your certificate matures.

Savings accounts are considered dormant after 29 months of inactivity. Checking accounts are considered dormant after 11 months of inactivity. Accounts subject to a maintenance fee, service charge or monthly dues prior to dormant or inactive status will continue to be subject to these charges.

Right to Close Account

The Bank reserves the right to close your account for any reason or without cause. It need not advise you of the reason for taking this action. If your account is closed by the Bank, it may issue a single cashier’s check for the account balance jointly payable to all the account-holders and any mail or deliver that check to any one of the account-holders, subject to any right the Bank may have under any security agreement covering the account or the Bank’s right of setoff.

The Bank automatically closes most accounts when the account balance is $0. The Bank does not give advance notice of such closure. If you do not want the Bank to close your account when the balance is $0, you should notify the Bank before this occurs.

Death or Incapacity of Depositor

You understand that the Bank may pay checks or permit withdrawals on your account after your legal incapacity or death unless the Bank knows of your incapacity or death, and, to the extent permitted by law, the Bank may pay checks or permit withdrawals even after the Bank learns of your death or incapacity.


Sometimes the Bank is brought into the Middle of a dispute among the account-holders over an account or a dispute between the account-holders and others claiming to be owners of a deposit account. When this happens, the Bank may choose any of the following courses of action:

– It may ignore any instructions (such as an instruction by one account-holder not to honor checks or other withdrawal orders by another account-holder) that conflict with the terms of the signature card for the account unless all account-holders sign the instructions.

– It can require that all account-holders sign any check or other withdrawal order even though the signature card for the account does not require all those signatures to authorize a withdrawal.

– It can close the account and issue a single cashier’s check for the account balance jointly payable to all account holders, and may mail or deliver that check to any one of the account-holders.

– It can deposit the account balance with the clerk of a court in connection with an interpleader action the Bank brings or in response to a court action naming the Bank as a party. The court would then decide who is entitled to the funds. If the Bank makes an interpleader deposit with the court, the court will be asked to award the Bank its costs, including attorney’s fees, for the lawsuit. The law provides that this award is payable out of the deposit.

– It can take any other action it believes to be reasonable under the circumstances even if the action is not listed here. These actions include, but are not limited to, any specific procedures that may be applicable under a law or regulation. You agree not to hold the Bank responsible for, and to indemnify and in this regard as long as the Bank’s decision and action (or inaction) is made and taken in good faith.

Waiver of Right to Jury Trial

We strive to remedy our customer’s problems or disputes as fast as possible. In most cases, we can resolve a problem in a branch or by telephone.

If you or we request, however, any dispute or controversy concerning your deposit account relationship with us will be decided by trial before a judge alone, without jury. Each of us waives any right to request or obtain a trial before a jury.

This dispute resolution procedure will apply to any dispute arising out of your deposit relationship with us, your deposit agreement, or otherwise from any past, present or future transactions, agreements or relationships, whether the dispute sounds in contract, tort, breach of duty or otherwise.

Resolution of disputes through trial without jury will not limit any rights you or we may have to obtain provisional or ancillary remedies, self-help or foreclosure, and any exercise of these rights will not be a waiver of the right of any party to require trial without jury.

The provisions of these dispute resolution procedures will survive any termination, amendment or expiration of your account agreement or of your account, unless otherwise expressly agreed in writing.

Power of Attorney

The Bank is sometimes asked to honor instructions given by someone claiming to act on behalf of a depositor under a power of attorney. The Bank reserves the right to refuse to act upon those instructions if the Bank is not reasonably certain that the power of attorney is valid and covers the transaction(s) requested. Therefore, it is suggested that if you wish to appoint an agent to transact business with the Bank on your behalf, you should consider using the Bank’s standard Power of Attorney form, you and your agent should sign the form at the Bank, and you should renew your power of attorney authorization frequently.

If you want your agent to be able to handle your affairs even if (or only if) you become legally incapacitated you should be sure that the power of attorney form you sign is a durable power of attorney designed for that purpose. Otherwise, even a recently signed and completely valid power of attorney will not be honored by the Bank once the Bank learns that you have become legally incapacitated. The Bank strongly advises you to seek advice of a lawyer before deciding whether a durable power of attorney will meet your needs.

You understand that when the Bank is requested to honor the instructions of one claiming to be your agent upon presentation of a power of attorney form (whether on a standard bank form or one you or your attorney prepare) the Bank will have to consider the authenticity and continued validity of the power, evaluate the power and determine whether the instructions are consistent with it. You agree not to hold the Bank responsible for any loss or damage you may incur as a result of the decision the Bank makes whether to follow the instructions given by the agent as long as the Bank’s decision is made in good faith.

Federally Required Notice Regarding Withdrawals from Interest-Bearing Accounts

Federal law requires all banks to reserve the right to require all customers holding interest-bearing accounts (other than time deposit accounts) to give 7 days advance notice of any intended withdrawal. However, the Bank does not expect to have to require such an advance notice.

Non-Transferability as to Certain Accounts

The following accounts are nontransferable except on the books of the Bank!

  • Delta Money Market Account
  • Savings Passbook Accounts
  • Time Certificates of Deposits

Change in Terms

The terms of this Contract and those in other disclosures and forms signed by you or furnished to you may be changed at any time by the Bank. If the law so requires, notice of a change will be given to you. Otherwise, no notice need be given as a condition to the change.

Your Address

It is important that the Bank’s record of your mailing address be kept current. Otherwise, you will not receive notices or other correspondence the Bank may send you from time to time. You agree to accept full responsibility for keeping the Bank’s record of your address up-to-date and that any notice, including notices of interest rate changes, changes of the fees and charges imposed by the Bank and any other notice the Bank sends you will be effective if sent to the last address you have furnished to the Bank. You also agree that any notice to or from any account-holder for your account will be effective for all disputes. You agree that if a notice or other correspondence sent to your address according to the Bank’s records is returned by the postal service as undeliverable for any reason other than the Bank’s failure to pay proper postage, the Bank need not send future notices to you until you have furnished the Bank with a new address. You agree to be bound by any notice not sent to you because previous mailings were undeliverable.