April 18, 2014


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Enterprise Bank Nashua, NH Commercial

Enterprise Bancorp, Inc. Announces Quarterly Dividend

Lowell Sun Article - EB's 25 Years in Business

Enterprise Bank Andover & Lawrence Commercials

Enterprise Bancorp, Inc. Announces 2013 Annual Net Income of $13.5 Million; Loan and Deposit Growth of 12% and 8%, Respectively

IMPORTANT ACCOUNT INFORMATION FOR OUR BUSINESS CUSTOMERS
TERMS AND CONDITIONS
OF YOUR ACCOUNT


IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT - To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth (for individuals), and other information that will allow us to identify you. We may also ask to see your driver’s license (for individuals) or other identifying documents.
AGREEMENT - This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us. Please read this carefully. If you sign the signature card or open or continue to use the account, you agree to these rules. You will receive a separate schedule of rates, qualifying balances, and fees if they are not included in this document. If you have any questions, please call us.
This agreement is subject to applicable federal laws and the laws of the state of Massachusetts (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to:
(1) summarize some laws that apply to common transactions;
(2) establish rules to cover transactions or events which the law does not regulate;
(3) establish rules for certain transactions or events which the law regulates but permits variation by agreement; and
(4) give you disclosures of some of our policies to which you may be entitled or in which you may be interested.
If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing either on the signature card for your account or in some other document.
As used in this document the words “we,” “our,” and “us” mean the financial institution and the words “you” and “your” mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular.
LIABILITY - You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges. You authorize us to deduct these charges directly from the account balance as accrued. You will pay any additional reasonable charges for services you request which are not covered by this agreement.
Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and can be deducted directly from the account balance whenever sufficient funds are available. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft. You will also be liable for our costs to collect the deficit as well as for our reasonable attorneys’ fees, to the extent permitted by law, whether incurred as a result of collection or in any other dispute involving your account including, but not limited to, disputes between you and another joint owner; you and an authorized signer or similar party; or a third party claiming an interest in your account.
DEPOSITS - We will give only provisional credit until collection is final for any items, other than cash, we accept for deposit (including items drawn “on us”). Actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars. We are not responsible for transactions by mail or outside depository until we actually record them. We will treat and record all transactions received after our “daily cutoff time” on a business day we are open, or received on a day we are not open for business, as if initiated on the next business day that we are open.
WITHDRAWALS - Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs to open the account or has authority to make withdrawals may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person who signs or has authority to make withdrawals to indorse any item payable to you or your order for deposit to this account or any other transaction with us. You agree that, as to any item that we have no opportunity to examine the signatures, such as an electronic check conversion transaction where a check or similar item is converted into an electronic fund transfer as defined in the
Electronic Fund Transfers regulation, you waive any requirement of multiple signatures for withdrawal. We may charge your account for a check even though payment was made before the date of the check, unless we have received written notice of the postdating in time to have a reasonable opportunity to act. We may refuse any withdrawal or transfer request which you attempt on forms not approved by us, by any method we do not specifically permit, which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations. Even if we honor a nonconforming request, we may treat continued abuse of the stated limitations (if any) as your act of closing the account. We will use the date the transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. The fact that we may honor withdrawal requests that overdraw the available account balance does not obligate us to do so later. You agree that we may charge fees for overdrafts and use subsequent deposits, including direct deposits of social security or other government benefits, to cover such overdrafts and overdraft fees. If we are presented with an item drawn against your account that would be a “substitute check,” as defined by law, but for an error or defect in the item introduced in the substitute check creation process, you agree that we may pay such item. See the funds availability policy disclosure for information about when you can withdraw funds you deposit. For those accounts for which our funds availability policy disclosure does not apply, you can ask us when you make a deposit when those funds will be available for withdrawal.
We may require not less than 7 days’ notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D. Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for early withdrawal.
BUSINESS, ORGANIZATION AND ASSOCIATION ACCOUNTS - Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy. We may require the governing body of the entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the entity.
STOP PAYMENTS - You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. To be effective, your stop-payment order must precisely identify the number, date and amount of the item, and the payee.
You may stop payment on any item drawn on your account whether you sign the item or not, if you have an equal or greater right to withdraw from this account than the person who signed the item. A release of the stop-payment request may be made only by the person who initiated the stop-payment order.
Our stop-payment cutoff time is one hour after the opening of the next banking day after the banking day on which we receive the item. Additional limitations on our obligation to stop payment are provided by law (e.g., we paid the item in cash or we certified the item).
TELEPHONE TRANSFERS - A telephone transfer of funds from this account to another account with us, if otherwise arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Unless a different limitation is disclosed in writing, we restrict the number of transfers from a savings account to another account or to third parties, to a maximum of six per month (less the number of “preauthorized transfers” during the month). Other account transfer restrictions may be described elsewhere.
AMENDMENTS AND TERMINATION - We may change any term of this agreement. Rules governing changes in interest rates are provided separately. For other changes, we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Notice from us to any one of you is notice to all of you.
STATEMENTS - Your duty to report unauthorized signatures, alterations and forgeries - You must examine your statement of account with “reasonable promptness.” If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.
You agree that the time you have to examine your statement and report to us will depend on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made available to you.
You further agree that if you fail to report any unauthorized signatures, alterations or forgeries in your account within 60 days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us the loss will be entirely yours. This 60-day limitation is without regard to whether we used ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section.
Your duty to report other errors - In addition to your duty to review your statements for unauthorized signatures, alterations and forgeries, you agree to examine your statement with reasonable promptness for any other error - such as an encoding error. You agree that the time you have to examine your statement and report to us will depend on the circumstances. However, such time period shall not exceed 60 days. Failure to examine your statement and report any such errors to us within 60 days of when we first send or make the statement available precludes you from asserting a claim against us for any such errors on items identified in that statement and as between you and us the loss will be entirely yours.
CHECK IMAGES - Included with your account statement, you will receive imaged copies of the front of your checks. A full copy (front and back) of your check is available upon request for a period of seven years.
ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent.
DIRECT DEPOSITS - If, in connection with a direct deposit plan, we deposit any amount in an account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.
TEMPORARY ACCOUNT AGREEMENT - If this option is selected, this is a temporary account agreement. Each person who signs to open the account or has authority to make withdrawals (except as indicated to the contrary) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time.
SETOFF - We may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt you owe us now or in the future, by any of you having the right of withdrawal, to the extent of such persons’ or legal entity’s right to withdraw. If the debt arises from a note, “any due and payable debt” includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note.
This right of setoff does not apply to this account if prohibited by law. For example, the right of setoff does not apply to this account if: (a) it is an Individual Retirement Account or similar tax-deferred account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor’s right of withdrawal only arises in a representative capacity. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff.
RESTRICTIVE LEGENDS - We are not required to honor any restrictive legend on checks you write unless we have agreed in writing to the restriction. Examples of restrictive legends are “must be presented within 90 days” or “not valid for more than $1,000.00.”
CREDIT VERIFICATION - You agree that we may verify credit and employment history by any necessary means, including preparation of a credit report by a credit reporting agency.
FACSIMILE SIGNATURES - You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen filed with us, and contain the required number of signatures for this purpose.
CHECK PROCESSING - We may process items mechanically by relying on the information encoded along the bottom of the items. This means that we may not individually examine all of your items to determine if the item is properly completed, signed and indorsed. You agree that we have not failed to exercise ordinary care solely because we use an automated system to process items and do not inspect all items processed in such a manner. We reserve the right not to inspect each item because using an automated process helps us keep costs down for you and all account holders. We may determine the amount of available funds in your account for the purpose of deciding whether to return an item for insufficient funds at any time between the time we receive the item and when we return the item or send a notice in lieu of return. We need only make one determination, but if we choose to make a subsequent determination, the account balance at the subsequent time will determine whether there are insufficient available funds.
CHECK CASHING - We may charge a fee for anyone that does not have an account with us who is cashing a check, draft or other instrument written on your account. We may also require reasonable identification to cash such a check, draft or other instrument. We can decide what identification is reasonable under the circumstances and such identification may be documentary or physical and may include collecting a thumbprint or fingerprint.
TRUNCATION, SUBSTITUTE CHECKS, AND OTHER CHECK IMAGES - If you truncate an original check and create a substitute check, or other paper or electronic image of the original check, you warrant that no one will be asked to make payment on the original check, a substitute check or any other electronic or paper image, if the payment obligation relating to the original check has already been paid. You also warrant that any substitute check you create conforms to the legal requirements and generally accepted specifications for substitute checks. You agree to retain the original check in conformance with our internal policy for retaining original checks. You agree to indemnify us for any loss we may incur as a result of any truncated check transaction you initiate. We can refuse to accept substitute checks that have not previously been warranted by a bank or other financial institution in conformance with the Check 21 Act. Unless specifically stated in a separate agreement between you and us, we do not have to accept any other electronic or paper image of an original check.
REMOTELY CREATED CHECKS - Like any standard check or draft, a remotely created check (sometimes called a telecheck, preauthorized draft or demand draft) is a check or draft that can be used to withdraw money from an account. Unlike a typical check or draft, however, a remotely created check is not issued by the paying bank and does not contain the signature of the account owner (or a signature purported to be the signature of the account owner). In place of a signature, the check usually has a statement that the owner authorized the check or has the owner’s name typed or printed on the signature line. For example, if a person provides an account number in response to a telephone solicitation, the telephone solicitor can use the account number to issue a remotely created check to withdraw money from that account.
You warrant and agree to the following for every remotely created check we receive from you for deposit or collection: (1) you have received express and verifiable authorization to create the check in the amount and to the payee that appears on the check; (2) you will maintain proof of the authorization for at least 2 years from the date of the authorization, and supply us the proof if we ask; and (3) if a check is returned you owe us the amount of the check, regardless of when the check is returned. We may take funds from your account to pay the amount you owe us, and if there are insufficient funds in your account, you still owe us the remaining balance. 
UNLAWFUL INTERNET GAMBLING NOTICE - Restricted transactions as defined in Federal Reserve Regulation GG are prohibited from being processed through this account or relationship. Restricted transactions generally include, but are not limited to, those in which credit, electronic fund transfers, checks, or drafts are knowingly accepted by gambling businesses in connection with the participation by others in unlawful Internet gambling.
FUNDS TRANSFERS - The terms used in this section have the meaning given to them in Article 4A of the Uniform Commercial Code - Funds Transfers (UCC 4A). This section will generally not apply to you if you are a consumer. However, even if you are a consumer, this section will apply to that part of any funds transfer that is conducted by Fedwire. This section is subject to UCC 4A as adopted in the state in which you have your deposit with us. This agreement is also subject to all clearing house association rules, rules of the Board of Governors of the Federal Reserve System and their operating circulars. If any part of this agreement is determined to be unenforceable, the rest of the agreement remains effective. This agreement controls funds transfers unless supplemented or amended in a separate written agreement signed by us.
Funds transfer - A funds transfer is the transaction or series of transactions that begin with the originator’s payment order, made for the purpose of making payment to the beneficiary of the order. A funds transfer is completed by the acceptance by the beneficiary’s bank of a payment order for the benefit of the beneficiary of the originator’s order. Generally, a funds transfer does not include any  transaction if any part of the transfer is covered by the Electronic Fund Transfer Act of 1978, as amended from time to time. You may give us a payment order orally, electronically, or in writing, but your order cannot state any condition to payment to the beneficiary other than the time of payment.
Authorized account - An authorized account is a deposit account you have with us that you have designated as a source for payment of orders you issued to us. If you have not designated an authorized account, any account you have with us is an authorized account to the extent that payment of the order is not inconsistent with the use of the account.
Acceptance of your payment order - We are not obligated to accept any payment order that you give us, although we normally will accept your payment order if you have a withdrawable credit in an authorized account sufficient to cover the order. If we do not execute your payment order, but give you notice of our rejection of your payment order after the execution date or give you no notice, we are not liable to pay you as restitution any interest on a withdrawable credit in a non-interest-bearing account.
Cutoff time - If we do not receive your payment order or communication canceling or amending a payment order before our cutoff time on a funds transfer day for that type of order or communication, the order or communication will be deemed to be received at the opening of our next funds transfer business day.
Payment of your order - If we accept a payment order you give us, we may receive payment by automatically deducting from any authorized account the amount of the payment order plus the amount of any expenses and charges for our services in execution of your payment order. We are entitled to payment on the payment or execution date. Unless your payment order specifies otherwise, the payment or execution date is the funds transfer date we receive the payment order. Your obligation to pay your payment order is excused if the order is cancelled prior to the execution of the transfer, but you are still responsible to pay us any expenses and charges for our services. However, if you told us to route the funds transfer through an intermediate bank, and we are unable to obtain a refund because the intermediate bank that you designated has suspended payments, then you are still obligated to pay us for the payment order. You will not be entitled to interest on any refund you receive because the beneficiary’s bank does not accept the payment order.
Security procedure - As described more fully in a separate writing, the authenticity of a payment order or communication canceling or amending a payment order issued in your name as sender may be verified by a security procedure. You may choose from one or more security procedures that we have developed and deemed to be a commercially reasonable security procedure by executing a separate written agreement with the Bank. You agree that you will be bound by any payment order issued in your name whether or not authorized, that we accept in good faith and in compliance with the security procedure you have chosen. If you refuse a commercially reasonable security procedure that we offer, you will assume the full risk of a payment order issued in your name that we accept in good faith that is false, fraudulent or otherwise incorrect.
Duty to report unauthorized or erroneous payment - You must exercise ordinary care to determine that all payment orders or amendments to payment orders that we accept that are issued in your name are authorized, enforceable, in the correct amount, to the correct beneficiary, and not otherwise erroneous. If you discover (or with reasonable care should have discovered) an unauthorized, unenforceable, or erroneously executed payment order or amendment, you must exercise ordinary care to notify us of the relevant facts. The time you have to notify us will depend on the circumstances, but that time will not in any circumstance exceed 14 days from when you are notified of our acceptance or execution of the payment order or amendment or that your account was debited with respect to the order or amendment. If you do not provide us with timely notice you will not be entitled to interest on any refundable amount. If we can prove that you failed to perform either of these duties with respect to an erroneous payment and that we incurred a loss as a result of the failure, you are liable to us for the amount of the loss not exceeding the amount of your order.
Identifying number - If your payment order identifies an intermediate bank, beneficiary bank, or beneficiary by name and number, we and every receiving or beneficiary bank may rely upon the identifying number rather than the name to make payment, even if the number identifies an intermediate bank or person different than the bank or beneficiary identified by name. Neither we nor any receiving or beneficiary bank have any responsibility to determine whether the name and identifying number refer to the same financial institution or person.
Record of oral or telephone orders - You agree that we may, if we choose, record any oral or telephone payment order or communication of amendment or cancelation, however, we have no duty to record such communications.
Notice of credit - If we receive a payment order to credit an account you have with us, we are not required to provide you with any notice of the payment order or the credit.
Provisional credit - You agree to be bound by the automated clearing house association operating rules that provide that payments made to you or originated by you by funds transfer through the automated clearing house system are provisional until final settlement is made through a Federal Reserve Bank or otherwise payment is made as provided in Article 4A-403(a) of the Uniform Commercial Code.
Refund of credit - You agree that if we do not receive payment of an amount credited to your account, we are entitled to a refund from you in the amount credited and the party originating such payment will not be considered to have paid the amount so credited.
Amendment of funds transfer agreement - From time to time we may amend any term of this agreement by giving you reasonable notice in writing. We may give notice to anyone who is authorized to send payment orders to us in your name, or to anyone who is authorized to accept service.
Cancelation or amendment of payment order - You may cancel or amend a payment order you give us only if we receive the communication of cancelation or amendment before our cutoff time and in time to have a reasonable opportunity to act on it before we execute the payment order. The communication of cancelation or amendment must be presented in conformity with the same security procedure that has been agreed to for payment orders.
Intermediaries - We are not liable for the actions of any intermediary, regardless of whether or not we selected the intermediary. We are not responsible for the delayed delivery or the misrouting of payment orders due to inaccurate or incomplete intermediary instructions, acts of nature, or actions of outside agencies, or nonsalaried agents.
Limit on liability - You waive any claim you may have against us for consequential or special damages, including loss of profit arising out of a payment order or funds transfer, unless this waiver is prohibited by law. We are not responsible for attorney fees you might incur due to erroneous execution of payment order.
Erroneous execution - If we receive an order to pay you, and we erroneously pay you more than the amount of the payment order, we are entitled to recover from you the amount in excess of the amount of the payment order, regardless of whether you may have some claim to the excess amount against the originator of the order.
Objection to payment - If we give you a notice that reasonably identifies a payment order issued in your name as sender that we have accepted and received payment for, you cannot claim that we are not entitled to retain the payment unless you notify us of your objection to the payment within 60 days of our notice to you.
Advisory Against Illegal Use - The Bank reserves the right to deny electronic transactions that may appear to be illegal in nature or originated in high risk foreign countries.
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                                                                ELECTRONIC DELIVERY DISCLOSURE NOTICE
This disclosure describes the process that must occur in order for us to provide you with additional electronic disclosures and notices to include periodic statements. It also describes your rights when you consent to receiving electronic disclosures and notices to include periodic statements.
Your consent for electronic delivery applies to all required disclosures for all your Enterprise Bank accounts as well as notices including periodic statements on the accounts you have selected, and is in effect until withdrawn by you. Agreeing to accept disclosures electronically means that once the Bank presents them to you, and if necessary, you click to accept them, they will apply to you and your accounts.
If you are opening an account on-line, you must accept electronic delivery of all disclosures and notices to include periodic statements.
You must promptly provide us with the information (such as an email address) needed to communicate with you electronically and update us as to any changes in such information by notifying us in writing at Enterprise Bank 222 Merrimack Street, Lowell, MA 01852.
If Enterprise Bank determines that an e-mail message to you regarding any disclosure or notice to include periodic statements is undeliverable, we may, at our discretion, choose to mail that disclosure or notice to include periodic statements to you using United States mail.
You may withdraw your consent for electronic delivery of disclosures or notices to include periodic statements, but doing so will not affect the legal effectiveness, validity, or enforceability of electronic records that were made available to you prior to the implementation of your withdrawal. To withdraw consent, or to provide updated information on how the Bank may contact you electronically, you must write to Enterprise Bank at 222 Merrimack Street, Lowell, MA 01852. If you withdraw consent for electronic delivery, Enterprise Bank will provide required disclosures to you using United States mail.
The minimum hardware PC (Windows 98, NT, 2000, ME, XP) MAC (OS 8.1, 9.X or 10.X) and minimum software requirements to accept and retain electronic disclosures and notices to include periodic statements are defined by your ability to operate one of the following internet browsers: Microsoft Internet Explorer  (version 6.0 or higher), Netscape Navigator (version 8.0 or higher), AOL (version 9.0 or higher), Mozilla’s Firefox (version 1.0 or higher) and Adobe Acrobat Reader (version 5.0 or higher).

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                                                         YOUR ABILITY TO WITHDRAW FUNDS
This policy statement applies to all deposit accounts.
Our policy is to delay the availability of funds from your cash deposits not made in person to one of our employees and check deposits. During the delay, you may not withdraw the funds in cash and we will not use the funds to pay checks that you have written.
Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit. 
                                                     DETERMINING THE AVAILABILITY OF A DEPOSIT
The length of the delay is counted in business days from the day of your deposit. Every day is a business day except Saturdays, Sundays, and federal holidays. If you make a deposit before 4:00 P.M. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after 4:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
The length of the delay varies depending on the type of deposit and is explained below.
If you make a deposit at an ATM before 3:30 P.M. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit at an ATM after 3:30 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
                                                                            Same-Day Availability
Funds from cash deposits made in person to one of our employees, wire transfers and electronic direct deposits to your account will be available on the day we receive the deposit.
                                                                            Next-Day Availability
All checks deposited will be available on the first business day following the day of your deposit, except for those deposited i
Into a new account open 30 days or less, if you have been notified of a longer delay, or if you are depositing foreign checks.
If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from those deposits will be available on the first business day after the day we receive your deposit. Cash deposits not made in person to one of our employees will also be available on the first business day after the day of deposit.
                                                                            Other Check Deposits
If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.
If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.
                                                                             LONGER DELAYS MAY APPLY
Funds you deposit by check may be delayed for a longer period under the following circumstances:
We believe a check you deposit will not be paid.
You deposit checks totaling more than $5,000 on any one day.
You redeposit a check that has been returned unpaid.
You have overdrawn your account repeatedly in the last six months.
There is an emergency, such as failure of computer or communications equipment.
You deposit a foreign check or draft.
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the sixth business day after the day of your deposit. Foreign checks or drafts are sent for collection and may not be available for up to thirty business days after the day of deposit.
                                                                             SPECIAL RULES FOR NEW ACCOUNTS
If you are a new customer, the following special rules will apply during the first 30 days your account is open.
Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,000 will be available on the fifth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit.
Funds from all other check deposits will be available on the ninth business day after the day of your deposit.
                                                                             DEPOSITS AT AUTOMATED TELLER MACHINES
Funds from any deposits (cash or checks) made at automated teller machines (ATMs) will not be available until the first business day after the day of your deposit.

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                                                                 SPECIFIC ACCOUNT DETAILS
                                                                               TOTAL BUSINESS CHECKING ACCOUNT

                                                         (Professional Advantage and Treasury Management Services)
Earnings Credit
- This account features an earnings credit which is applied to reduce or eliminate some of the fees on the account. If the earnings credit exceeds those fees for any period, you will be assessed none of those fees but you will not be paid, carry forward or otherwise receive credit for any excess earnings credit. The fees to which the earnings credit is applied are listed below.
Earnings Credit Calculation - The earnings credit will be calculated by applying the earnings credit rate to the average daily investable balance in the account for the period. The earnings credit rate may change at our discretion. The earnings credit rate will never be more than 5%. The average daily investable balance is calculated by adding the available investable balance in the account for each day of the period and dividing by the number of days in the period. The period we use is the monthly statement cycle.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Fees*:
Monthly maintenance - $16.00
Per item deposited Transit Checks- $.15
      On Us Checks- $.12
Per check paid - $.20
ACH items received - $.10 CR
        - $.11 DR
FDIC Insurance - $.07 per $100.00 (up to a maximum of $250,000)
ATM withdrawals at ATMs we do not own or operate (each) - $1.00 regardless of balance maintained
                                  SELECT BUSINESS CHECKING ACCOUNT (INTEREST BEARING)
       ( Sole proprietorships, state, municipal, and county agencies, personal trusts, non-profit organizations, and
                                                                            IOLTAs are eligible for this account.)
Rate Information
- Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - An average daily available balance of $25,000.00 must be maintained at all times to avoid a monthly service charge of $25.00.  An average daily available balance of $40,000.00 must be maintained if one Cash Management service is adopted. A $15.00 fee will be assessed for falling below the $40,000.00 average daily available balance requirement. An average daily available balance of $50,000.00 must be maintained if two Treasury Management services are adopted. A $10.00 fee will be assessed for falling below the $50,000.00 average daily available balance requirement and an additional $15.00 fee if the average daily available balance falls below $40,000.00. The average daily available balance is calculated by adding the available balance in your account for each day of the period and dividing by the number of days in the period.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the available balance in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Fees*:
First 500 deposit items, checks, and ACH received and/or originated items are free.
The following fees will apply to this account if the number of deposit items, checks, and ACH received and/or originated items exceed 500 during a monthly statement cycle: $.50 per item
ATM withdrawals at ATMs we do not own or operate (each) - $1.00 regardless of balance maintained.

                                                     SELECT BUSINESS CHECKING ACCOUNT (NON INTEREST BEARING)
                                                                (Limited Cash Management Capability:
                                                                      ACH Origination and Express Deposit)
Minimum balance to open the account
- You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - An average daily available balance of $25,000.00 must be maintained at all times to avoid a monthly service charge of $25.00. An average daily available balance of $40,000.00 must be maintained if one Cash Management service is adopted. A $15.00 fee will be assessed for falling below the $40,000.00 average daily available balance requirement. An average daily available balance of $50,000.00 must be maintained if two Cash Management services are adopted. A $15.00 fee will be assessed for falling below the $50,000.00 average daily available balance requirement and an additional $15.00 fee if the average daily available balance falls below $40,000.00. The average daily available balance is calculated by adding the available balance in your account for each day of the period and dividing by the number of days in the period.
Fees*:
First 500 deposit items, checks, and ACH received and/or originated items are free.
The following fees will apply to this account if the number of deposit items, checks, and ACH received and/or originated items exceed 500 during a monthly statement cycle: $.50 per item
ATM withdrawals at ATMs we do not own or operate (each) - $1.00
                                                     FREE BUSINESS CHECKING ACCOUNT (INTEREST BEARING)
                 (Sole proprietorships, state, municipal, and county agencies, personal trusts, non-profit organizations, and 
                                                                                    IOLTAs are eligible for this account.)
Rate Information
- Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the available balance in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Fees*:
First 300 deposit items, checks, and ACH received items are free.
The following fees will apply to this account if the number of deposit items, checks and ACH received items exceed 300 during a monthly statement cycle: $.30 per item
ATM withdrawals at ATMs we do not own or operate (each) - $1.00 
                                   FREE BUSINESS CHECKING ACCOUNT (NON INTEREST BEARING) 
 Fees:
First 300 deposit items, checks, and ACH received items are free.
The following fee will apply to this account if the number of deposit items, checks and ACH received items exceed 300 during a monthly statement cycle: $.30 per item
Minimum balance to open the account - You must deposit $100.00 to open this account.
                                      BUSINESS MONEY MARKET ACCOUNT and
                                     PREMIER BUSINESS MONEY MARKET ACCOUNT

A TOTAL BUSINESS OR SELECT BUSINESS ACCOUNT IS REQUIRED TO OPEN THE PREMIER BUSINESS MONEY MARKET ACCOUNT
Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $7.50 will be imposed every monthly statement cycle if the average daily available balance for the monthly statement cycle falls below $1,000.00. The average daily available balance is calculated by adding the available balance in the account for each day of the period and dividing by the number of days in the period.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the available balance in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Business Money Market account to another account or to third parties by preauthorized, automatic, telephone, or data transfer or by check, draft, or similar order to third parties are limited to six per statement cycle.
Fees:
An ATM withdrawal fee of $1.00 will be charged for each withdrawal at ATMs we do not own or operate.
A per check fee of $.50 will be charged for each check paid.
The ATM withdrawal and per check fees will not apply if you maintain an average daily available balance of $1,000.00 in this account.
                                                                       COMMON FEATURES
* A returned deposited items fee of $7.50 per item, charged directly to the account, applies to the products so noted. This fee cannot be off-set by an earnings credit or avoided by meeting minimum balance requirements.
Please refer to our separate fee schedule for additional information about other fees that may be charged to your account that cannot be off-set by an earnings credit or avoided by meeting minimum balance requirements.
Check printing fees depend on style and quantity of checks ordered.
CHECKING ACCOUNT ORGANIZATION: Your account may be structured to include a master account and two subaccounts. You will conduct business on the master account and all information that is made available will be at the master account level. The subaccounts will be comprised of a transaction account (e.g. checking account) and a non transactional account (e.g. savings account). Both subaccounts will earn the same rate of interest as the master account, if applicable. You cannot directly access the subaccounts but you agree that we may automatically, and without a specific request from you, initiate individual transfers of funds between subaccounts from time to time at no cost to you. The account organization will not change the amount of federal deposit insurance available to you, your available balance, the information on your periodic statements, or the interest calculation, if this is an interest-bearing account. You will not see any difference between the way your checking account operates and the way a traditionally organized checking account operates, but this organization makes us more efficient and helps to keep costs down.
                                                          —————————————————————
                                                                                YOUR ACCOUNT

These are the accounts you have opened or inquired about. Further details about these accounts are inside this brochure. If the figures are not filled in, please see the insert that is with this disclosure or your periodic statement.
  TOTAL BUSINESS CHECKING ACCOUNT
Periodic earnings credit rate for your account is:
• Tier 1 - $0 to $99,999.99 —————
• Tier 2 - $100,000.00 to $249,999.99 —————
 Tier 3 - $250,000.00 to $499,999.99 —————
• Tier 4 - $500,000.00 to $999,999.99 —————
• Tier 5 - $1,000,000.00 to $2,999,999.99 —————
• Tier 6 - Greater than $3,000,000.00 —————
  SELECT BUSINESS (WITH INTEREST) CHECKING ACCOUNT
The interest rate for your account is —————%
with an annual percentage yield of —————%.
  FREE BUSINESS (WITH INTEREST) CHECKING ACCOUNT
The interest rate for your account is —————%
with an annual percentage yield of —————%.
  BUSINESS MONEY MARKET and
       PREMIER BUSINESS MONEY MARKET ACCOUNT

Rate Information:
• Tier 1 - If your daily available balance is more than $0, but less than $25,000.00, the interest rate for accrual of interest on the entire balance in your account will be —————% with an annual percentage yield of —————%.
• Tier 2 - If your daily available balance is more than $24,999.99, but less than $50,000.00, the interest rate for accrual of interest on the entire balance in your account will be —————% with an annual percentage yield of —————%.
 Tier 3 - If your daily available balance is more than $49,999.99, but less than $100,000.00, the interest rate for accrual of interest on the entire balance in your account will be —————% with an annual percentage yield of —————%.
• Tier 4 - If your daily available balance is more than $99,999.99, but less than $500,000.00, the interest rate for accrual of interest on the entire balance in your account will be —————% with an annual percentage yield of —————%.
• Tier 5 - If your daily available balance is more than $499,999.99, but less than $2,000,000.00, the interest rate for accrual of interest on the entire balance in your account will be —————% with an annual percentage yield of —————%.
 Tier 6 - If your daily available balance is greater than $1,999,999.99, the interest rate for accrual of interest on the entire balance in your account will be —————% with an annual percentage yield of —————%.

For more information on how working with Enterprise Bank can benefit you, contact us at 978-459-9000 or 877-671-2265 or visit us at EnterpriseBanking.com

1865810-010
Rev. 11/2010
© 1992, 1993, 1995 Wolters Kluwer Financial Services – Bankers Systems™
Form AIB-B  8/4/95  Custom TCM-23Bn,3m,4l
BWP Chg 11/19/10

To speak with one of our trusted advisors about your needs, call 978-459-9000 or contact us today.