First St Vincent Bank in Receivership FAQs

CUSTOMERS DEPOSITS

24. I have a deposit account and a loan – can these be set off?

If a depositor owes FSVB an amount for a matured or past-due loan, that amount will be set off against the deposit amount owed by the Company.

If a depositor owes FSVB an amount for a loan and the loan is not matured or past-due, then, at the sole option of the depositor, the amount owed may be set-off against the deposit amount owed by the licensed financial institution.