Overdraft Privilege Service

Why Have Overdraft Privilege Service?
Have You Ever . . .

  • Made an honest mistake with your checkbook?
  • Found your checking account running a little thin?
  • Had unusual or unforeseen expenses at just the wrong time?

Overdraft Privilege Can Mean . . .

  • Fewer charges from retailers for returned checks!
  • Additional convenience and flexibility in managing your funds!
  • Less aggravation and embarrassment!

Of course, we can't promise to pay every overdraft and some restrictions do apply. See the Overdraft Privilege Service Policy that follows.

Our normal non-sufficient funds charge will apply to each item that would create an overdraft on your account!

Overdraft Privilege Service Policy

Discretionary Overdraft Service, Certain Restrictions Apply.

It is the policy of Lumbee Guaranty Bank to comply with
applicable laws and regulations, and to conduct business in
accordance with applicable safety and soundness standards.

An insufficient balance may result from:

A. The payment of checks, electronic funds transfers, or other
withdrawal requests;
B. Payments authorized by you;
C. The return, unpaid, of items deposited by you;
D. The imposition of bank service charges; or
E. The deposit of items which according to the Bank's Funds
Availability Policy; are treated as not yes "available" or finally paid.

We are not obligated to pay any item presented for payment if your account does not contain sufficient collected funds. Rather than automatically refusing unpaid, any non-sufficient funds items that you may have, if your eligible account (primarily used for personal and household purposes) has been open for at least ninety (90) days and thereafter you maintain your account in good standing, which includes at least: (A) Continuing to make regular deposits, (B) You are not in default on any loan obligation to Lumbee Guaranty Bank (C) You bring your account to a positive balance (not overdrawn) within thirty (30) days, and (D) Your account is not the subject of any legal or administrative order or levy, we will consider, as a discretionary courtesy or *service and not a right or obligation, approving you reasonable overdrafts. This discretionary *service will generally be limited to a $300.00 overdraft (negative) balance for eligible Personal Checking accounts. Of course, any and all bank fees and charges, including without limitation our nonsufficient funds/overdraft fees (as set forth in our fee schedules) will be included in this limit.

We may refuse to pay an overdraft for you at any time, even though your account is in good standing and even though we may have previously paid overdrafts for you. You will be notified by mail of any non-sufficient funds items paid or returned that you may have; however, we have no obligation to notify you before we pay or return any item. The amount of any overdrafts plus our Non-Sufficient Funds Charge(s) that you owe us shall be due and payable upon demand. If there is an overdraft paid by us on an account with more than one (1) owner on the signature cards, each owner, and agent if applicable, drawing/presenting the item creating the overdraft, shall be jointly and severally liable for such overdrafts plus our Non-Sufficient Funds Charge(s).

LIMITATIONS: Available only to eligible personal checking accounts for personal and household purposes (Business or Commercial Accounts, Money Market Accounts, and Student Accounts are not eligible) and we may limit the number of accounts eligible for Overdraft Privilege to one account per household.

*The Overdraft Privilege Service does not constitute an actual or implied agreement between you and the bank. Nor does it constitute an actual or implied obligation of or by the bank. This service represents a purely discretionary courtesy or privilege that the bank may provide to you from time to time and which may be withdrawn or withheld by the bank at any time without prior notice or reason or cause.


Larry R. Chavis has been promoted to EXECUTIVE VICE CHAIRMAN by the Board of Directors of Lumbee Guaranty Bank.

Kyle R. Chavis has been selected by the Lumbee Guaranty Bank (LGB) Board of Directors to succeed Larry R. Chavis (no relation) as CEO. In addition, Bryan K. Maynor has been promoted to President and Chief Operating Officer of the Bank. Both men will assume their new roles immediately.

Mr. Kyle Chavis, (47), has been an employee of LGB for 18 years. His experience includes a total of 25 years in a variety of banking roles at Wachovia Bank, Triangle Bank and others. He has been serving as Executive vice President and Chief Credit Officer of LGB for the past eight years. Kyle Chavis received a Bachelor of Arts in Business Management, with a concentration in Finance from North Carolina State University in 1991, and he is currently working toward a Master’s in Business Administration at UNC Pembroke. He attended graduate banking schools at Louisiana State University and through the North Carolina Bankers Association. He and his family reside in Lumberton, NC.

Mr. Bryan Maynor (53) has a 28-year banking career, 18 of which have been with LGB, most recently as the Executive Vice President and Chief Operations Officer. He was born and reared in Pembroke, NC and received his Bachelors of Science in Industrial Relations at UNC Chapel Hill in 1986. Maynor also attended graduate banking schools at LSU and through the NCBA. He attained an Executive Masters in Business Administration from Troy University in 2007. Maynor lives in Pembroke with his family.

In making the announcement, LGB Board of Directors Chair, Arnold Locklear, acknowledged the experience, leadership and skill that Kyle Chavis and Bryan Maynor have already contributed to the Bank, stating, “These gentlemen have been involved at a senior management level over many years of change at LGB. The Board is excited to have them as our next executive team.”

Mr. Larry Chavis said, “I have teased these guys that it will take two of them to replace me, but the truth is banking has become a much more complex business since I was a young banker. I am comforted that Kyle and Bryan will be at the helm when I slow down.”

LGB is a commercial bank founded in 1971. The Bank currently serves customers in Robeson, Cumberland and Hoke Counties. The Bank has $350 million in assets and 13 branch offices. Please visit our website: http://LumbeeGuarantyBank.com

Pembroke, NC

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© 2005 Lumbee Guaranty Bank