Customer Identification Program

 

Federal regulations enacted pursuant to Section 32 of the USA PATRIOT Act requires all financial institutions to verify the identity of every person who seeks to open an account or become a signatory on an account with the institution after October 25, 2002. All persons are subjected to the identity verification requirements even though they may be a long term customer and are well known to the institution.

 

For the purpose of the regulation, an "account" includes every formal banking relationship that entitles ongoing services, dealings or transactions. Some examples are deposit account, loan, trust relationship or safe deposit box rental.

 

If you request to open an account or become a signatory on an account with First National Bank of Midland, and First National Bank of Midland has not previously verified your identity under the new regulatory requirements, then First National Bank of Midland will request documentary verification or your identity, such as a driver's license or passport and /or it will verify your identity through other non-documentary methods. Similar identification requirements apply to business entities such as corporations and partnerships. 

 

First National Bank of Midland is required to retain a copy of any document it relied on to verify your identity.