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Security Statement

Arthur State Bank understands the importance of providing top-level security measures to ensure our customers protection. We are committed to providing our customers with leading-edge online financial services and a secure environment for conducting business. At Arthur State Bank we have taken every precaution necessary to be sure information is transmitted safely and securely. The latest methods in Internet banking system security are used to increase and monitor the integrity and security of the system. We utilize a number of methods and techniques discussed below to provide the best security possible.

User IDs and Passwords

To obtain financial services from the Arthur State Bank website, customers must have a User ID and a Password. In the enrollment process for online services, customers select a user ID for approval. This ID is approved assuming it does not duplicate any previously chosen ID and falls within our User ID requirements. When a customer has an approved User ID, we will assign a temporary password, which must be changed with first time access to the system. Access to our website to find out about customer’s personal financial dealings with Arthur State Bank is impossible without having both a User ID and Password. Customers should treat both a User ID and Password with the same degree of care and secrecy as an ATM security code (PIN) and other sensitive financial data.

Timeout Feature

Arthur State Bank’s website has a timeout feature in those areas requiring account login to access a customer’s financial information. This feature automatically logs out the user from the current session after an extended period of inactivity on our site. Because someone else might obtain physical access to a customers system, it is better for privacy reasons to exit the financial services session after all activity is finished, rather than waiting for the timeout feature to occur.

Electronic Messaging

E-mail transmitted across the Internet is normally not encrypted and may be intercepted by third parties. Customers should therefore avoid sending any confidential or private information in e-mails to Arthur State Bank. Likewise, we will not include confidential information in any e-mailed response to you. A comment form that uses cryptography to protect information in transit between us is provided on Arthur State Bank’s website. Arthur State Bank retains the content of your e-mail and our replies to ensure proper responses to your questions and requests and to comply with legal and regulatory requirements. We may also use the content of these communications to deliver quality services in the future.

Encryption

Arthur State Bank uses encryption techniques to protect personal information.

Firewalls and Activity Reports

Arthur State Bank employs an additional protection mechanism known as a firewall to protect our computer systems and personal information. Firewalls can be thought of as selective barriers that allow only authorized traffic (our Online Banking customers) through to Arthur State Bank systems. We also review activity reports to find anything that appears out of the ordinary. We look at specific individual information only to investigate activities that appear suspicious and to protect our systems and personal information.

Monitoring

Arthur State Bank utilizes a professional security monitoring company to serve as a lookout for potential intruders and problems with our systems. We selected this company based on their extensive background and experience with security monitoring. We only utilize proven security monitoring experts. This company will provide around-the-clock coverage, 24 hours a day / 7days a week. They will NOT have access to or be able to see what activity is occurring on a customer’s account. Our security monitoring company will only be detecting unauthorized access attempts and malicious activities.

Digital Certificates

For additional security, Arthur State Bank uses digital certificates.

Online Banking and Online Bill Pay Security Information

Arthur State Bank utilizes two different pieces of information to properly identify and authenticate a customer prior to allowing online access to our web-based Online Banking and Online Bill Pay services. The first piece of information needed is a User ID, which serves to identify you and your account relationship with Arthur State Bank. The other piece of information serves to authenticate your identity – to prove you are who you say you are and not anyone else pretending to be you. This item is your Password or PIN (Personal Identification Number).

Consumer Tips for Protecting Personal Information

All transactions are encrypted for security, and the Online Banking system is as secure as using an ATM. There are, however, a few steps you can take to ensure your account information is secure.

  • Never leave your user name and password where another person can find them.
  • Always use the Exit option on the Main Menu to leave the Online Banking system when you are finished.
  • Never give out your Social Security number or personal credit information over the telephone unless you initiate the call.
  • Tear up or shred receipts, bank statements and unused credit card offers before discarding them.
  • Watch your mail. If you are missing a statement, a check or a bill, someone may have changed your address. Call the source to find out why the item is missing. Also, don’t mail sensitive information from your home mailbox where it can be taken. Drop it in a post box or at the Post Office instead.
  • Review your credit report annually and correct any mistakes.
  • Know the reputation of companies you deal with, especially over the Internet.
  • Make sure you use secure sites on the Internet. Your browser should display a key or a padlock to indicate secure sites.
  • Don’t open suspicious e-mails and report any suspected fraud immediately.
  • Protect your Personal Identification Numbers (PINs) and passwords. Change your passwords often, using a combination of letters and numbers.
  • Eliminate cached pages before leaving a shared or public computer
  • Don’t share your PIN with anyone
  • Select a PIN that is hard to guess, but easy for you to remember
  • Don’t leave your computer while it is in the middle of an Online Banking or Online Bill Pay session

For inquiries concerning information related to this website, please Contact Us.

AnnualCreditReport.com is the only source for free credit reports authorized by the federal government. Every 12 months, you can get a free copy of your credit report from each agency.

Your credit report has your credit history for all of your credit accounts as well as any credit inquiries and public record court information such as collections. In addition, the report provides personally identifiable information such as your name, address, and employment.

Be sure to carefully review all three reports to identify any problem areas that you may need to clean up prior to applying for a mortgage. If there is any incorrect information, follow the reporting agency’s rules to correct it or add a notation to the report to explain the situation.

Your FICO Score is a score combines data from several areas include payment history, the amount owed, length of credit history, new accounts. Many lenders use this score as a guide. This score is not provided as part of the free annual credit report.

Learn more about how your credit score impacts your ability to secure a loan.

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Primary considerations for setting your housing budget require an assessment of your income, debt and current savings for the down payment on the home. The following are generally recommended guidelines; however, you should meet with an Arthur State Bank lender to get personalized mortgage information.

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The pre-qualification/pre-approval letter is included with any offer you make on a house to inform the seller that you have met with a mortgage lender and you are prepared to make an offer. The letter states that based on certain assumptions, the bank is prepared to lend you up to a specified amount of money for a home mortgage.

When choosing a loan officer, we recommend going local to work with someone who understands your community’s real estate market. This blog on first-time home purchases includes questions to ask your lender that may be helpful when preparing for your meeting.

Helpful Resources:

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When a house is sold, the seller typically pays real estate commission to both the listing agent and the selling agent. It is extremely beneficial for the buyer to use their own real estate agent. Loan officers can often recommend selling agents in the area; ask your officer about realtor referrals when discussing your loan.

A good realtor will know the local market and can help you find an ideal home based on your budget, location and desired features. During your search, understand that you will most likely need to compromise on some items, so it’s important to identify your critical needs versus your wants.

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Additionally, when you start with the house search and work backwards, homes can often go off the market while you’re completing steps 1-4. While browsing homes immediately can be tempting, we recommend following these steps in order so that, once you find your dream home, you’ll be well-positioned to take action immediately.

When you find the home you want and you think you are ready to put an offer on it, you will want to make sure you have all the information you need to make a solid offer.

  • Evaluate the neighborhood.
  • Drive by the house at different times of the day.
  • Examine how other houses in the neighborhood are maintained.
  • Consider any potential traffic or other disruptive noise.
  • Is there ample parking for you and visitors?
  • Read the details in any Homeowner Association agreements (HOA fees and rules).

Make sure to do a preliminary check of house details:

  • Check the water:
  • Does it have good pressure?
  • How long does it take to get the water hot?
  • Is it well water or city water?
  • Turn light switches on and off.
  • Open and close doors and windows to make sure they work properly.
  • Review previous utility bill expenses.
  • Consider the property tax bill.

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When writing an offer contract, be sure to pay attention to all of the details.

Offer Price:

Your agent should do a market analysis that pulls data on recently sold comparable houses. The best comparisons will come from the same neighborhood.

If you are asking for the seller to pay some of the closing costs, remember that this cost plus the sales commission determines the net amount you are offering the seller for the house.

Work with your agent on your negotiation strategy. There are many things to consider, such as how badly you want this particular house, whether it is a buyer’s or seller’s market and an assessment of the seller’s motivation to get the property sold.

There isn’t one best strategy.

Be sure to document in writing everything you want included with the house, such as appliances, etc. Your agent should guide you through the contract step-by-step.

Contingencies:

  • Home inspection.
  • Mortgage.
  • Final walk through (24 hours prior to closing).

Proposed closing date. Typically, this is 30-45 days from an accepted offer.

A good-faith deposit is required for the offer. This is typically between 1-10% of the purchase price of the house. The deposit is kept in escrow until closing and the money is applied to the purchase price of the house at closing. If the house does not close due to one of the contingency clauses, the buyer receives their money back. However, if the buyer decides not to close on the property, the seller may get the deposit money.

Attach your pre-approval letter to the offer.

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The clock starts ticking for everything documented in the contract, including mortgage application, inspections and closing date.

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You will need to decide which mortgage to select prior to the application.

Plan for the following potential fees:

  • Application fee (many banks and mortgage companies charge an application fee; however, there is not an application fee at Arthur State Bank).
  • Credit check.
  • Appraisal (may be paid at closing).
  • Loan origination fee (paid at closing).

Once you have approval for your loan, make sure you don’t change anything that will impact the status of your mortgage. Banks do a final check on credit and jobs just prior to closing, so now is not the time to change jobs or make another purchase on credit such as a car or furniture.

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Depending on the size of the house, an inspection can cost on average between $300 to $1000.

Many real estate contracts specify how problems uncovered in the inspection will be resolved, up to a certain dollar amount. Should necessary repairs exceed that amount, the buyer has the option to cancel the contract without penalty and receive their deposit money back. Another option is for the buyer and seller to renegotiate who will pay for additional repairs.

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  • Homeowner’s insurance is required by the lender prior to closing on the loan.
  • Turn on utilities in your name, effective the closing date.
  • Change your address with the U.S. Postal Service.
    • Make moving arrangements.

Three days prior to closing:

  • You should receive your final Closing Disclosure from the closing agency. The final Closing Disclosure shows a column for the seller and a column for the buyer. All closing charges and credits for both the seller and the buyer are documented in the closing statement.
  • Review the closing statement for accuracy prior to coming to closing.
  • The final amount in the buyer’s column shows you the amount of money you need to pay at closing.

The closing office will provide specific payment instructions. Closing funds have become recent targets for cybercriminals. If you are asked to use a wire transfer, call the office and ask to speak to someone you have been working with to double-check the instructions.

Closing day:

In South Carolina, the closing will usually take place at the attorney’s office. Everyone signing for the mortgage must be present to sign the closing paperwork. Make sure you bring the following:

  • Cashier’s check or proof of payment for wire transfer.
  • Driver’s license.
  • Checkbook, just in case there are any additional items that were not on the closing statement.

Be sure to understand this information:

  • How and when you will pay:
  • Your mortgage.
  • Your property taxes.
  • Your homeowner’s insurance.
  • Any HOA dues.
  • Who to call with any questions.

The best practice is to go through the homebuyer’s roadmap in this sequence. However, if you jumped ahead early in your journey, just circle back to address the steps you missed.

Arthur State Bank’s loan officers are closely tapped into local real estate markets and experts at helping clients get what they need on terms that work for them. We also offer mortgage specials for first-time homebuyers.

To start planning your journey to your dream home, try out our mortgage calculator. If you’re ready to talk to a loan officer, contact Arthur State Bank to request personalized mortgage information today. Don’t forget to ask about our first-time homebuyer offer.

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