TRUST DEPARTMENT FEE SCHEDULE
EAST BRANCH- 525 CLARIZZ BLVD.
BLOOMINGTON, INDIANA 47401
PHONE: 812-333-4228 FAX 812-323-3230
PERSONAL TRUST
Where the bank serves as Trustee under either a Living Trust or a Testamentary Trust, there will be a fee based on the total market value of the assets of the trust calculated on a semi annual basis.
The fees are computed as follows:
1% of the first $500,000.00 of market value.$5,000.00
8/10 of 1% for the next $250,000.00 of market value 2,000.00
6/10 of 1% for the next $250,000.00 of market value 1,500.00
5/10 of 1% for market value over $1,000,000.00
NOTE: There will be a minimum annual charge of $750.00 on all personal
trust. In the event there are unusual or extraordinary services required, there
will be additional charges based on the nature of services provided.
AGENCY ACCOUNTS
Fees for the bank acting as Agent on an account are the same as those for the bank acting as Trustee.
ESTATES
Where the bank serves as personal representative of an estate either as Executor or Administrator, the
Courts ultimately award the fees. The normal fee the bank will request the court to allow is determined as follows:
(1) PROBATE ASSETS
5% of the first $500,000.00 of assessed value.$25,000
2% of all assessed value over $500,000.00
(2) NON PROBATE ASSETS
1% of assessed value
NOTE: There will be a minimum fee of $1,000 on all estates.
GUARDIANSHIP/CONSERVATORSHIP
The fee for the bank serving in this capacity will be 5% of the gross income of the account with a minimum annual fee of $700.00. Fees are based on a normal twelve (12) month period of disbursements and payments with fees collected semi annually. If the services preformed are unusual or time consuming, there will be additional charges based on the nature of work preformed.
FUNERAL TRUST
For Funeral Trust where the funds are invested in a Certificate of Deposit with the bank, there will be a set up charge of $50.00 when trust is established. There is an annual fee of $50.00 to be taken from the interest earned of the Certificate of Deposit every year the trust is in existence, and a termination fee of $50.00 at the time the trust is closed. The trust will require a minimum opening balance of $2,500.00.
For Funeral Trust where one or more insurance policies comprise the total assets and the bank, as trustee, becomes the owner of the policy(ies), there is a one time set up fee of $100.00.
IRS CODE 1031 LIKE KIND EXCHANGE INTERMEDIARY ACCOUNTS
The fee for acting as intermediary on these accounts will be $500.00 per account up to a maximum balance of $500,000 then the fee is $500.00 plus $50.00 for each additional $100,000 of funds on deposit.
CORPORATE BOND TRUSTEE, PAYING AGENT, REGISTRAR AND TRANSFER AGENT
Fees for accepting responsibilities as trustee, paying agent, registrar, and transfer agent, will be as follows:
Acceptance fee $3,000
Base annual fee during life of agreement 1,000
Paying matured bonds $7.50 per bond
Canceling and reissuing bonds $7.50 per bond
Interest payments made on outstanding bonds $2.00 per bond
OTHER TRUST SERVICES
Fees will be discussed at the time services are requested. We welcome any and all services and look forward to discussing the potential benefit to any potential bank trust customer.
NOTE: All fees disclosed in this statement are subject to change without notice, and are based on the requirements of our performance and the types of services to be provided.
Revised 3-20-06
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