Privacy Disclosure Statement

Grand Marais State Bank collects nonpublic personal information about you from the following sources:

• Information we receive from you on applications or other forms;
• Information about your transactions with us or others; and
• Information we receive from a consumer reporting agency.

We do not disclose any nonpublic personal information about you to anyone, except as permitted by law.
If you decide to close your account(s) or become an inactive customer, we will adhere to the privacy policies and practices as described in this notice.
Grand Marais State Bank restricts access to your personal and account information to those employees who need to know that information to provide products or services to you. Grand Marais State Bank maintains physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information.

Customer Identification Requirements
 
In accordance with Section 326 of the USA PATRIOT ACT signed October 26, 2001, Grand Marais State Bank is required to obtain, verify and record information used in identifying our new account customers and in identifying signatory individuals added to an existing or new account.  In some cases, identification will be requested for those individuals banking with the Bank prior to the effective date of the customer identification requirements because original documentation was not obtained with the opening of the account, or the Bank is unable to form a reasonable belief that it knows the true identity of the existing customer.  In all cases the protection of our customer's identity and confidentiality is the Bank's pledge to you.