Privacy Policy / Expenditure Policy
Privacy Policy
Your concerns about the privacy of your personal information during on-line and off-line transactions with the Mountain Valley Community Bank are recognized and respected. We are committed to taking every reasonable precaution to protect and safeguard your privacy. All transactions conducted via the Internet, and all personal information exchanged via the Internet are processed in a secure (encrypted) environment. The Mountain Valley Community Bank uses cookies only to help identify authorized users. Cookies are not used by the bank in any other way.
COLLECTION OF NONPUBLIC INFORMATION:
We collect nonpublic information about you from the following sources:
Your concerns about the privacy of your personal information during on-line and off-line transactions with the Mountain Valley Community Bank are recognized and respected. We are committed to taking every reasonable precaution to protect and safeguard your privacy. All transactions conducted via the Internet, and all personal information exchanged via the Internet are processed in a secure (encrypted) environment. The Mountain Valley Community Bank uses cookies only to help identify authorized users. Cookies are not used by the bank in any other way. We collect nonpublic information about you from the following sources:
- Information we receive from you on application or other forms
- Information about your transactions with us
- Information about your transactions with nonaffiliated third parties
- Information from a consumer reporting agency
PURPOSE FOR COLLECTING NONPUBLIC INFORMATION:
We collect nonpublic information on consumer customers for:
- Identification purposes
- To protect the security of your accounts
- To help us in administering our business
- To help provide customers with the products and service they desire.
INFORMATION WE DISCLOSE ABOUT YOU:
We do NOT disclose any information about you to anyone, except as permitted by law; such as in response to a subpoena.
Maintenance of Accurate information:
We have established procedures to insure your personal information is accurate, current and complete in accordance with reasonable commercial standards. We will respond in a timely manner to any questions from you or request to correct inaccurate information.
THE CONFIDENTIALITY, SECURITY AND INTEGRITY OF YOUR INFORMATION:
We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic and procedural safeguards that comply with federal standards to guard your nonpublic personal information.
INFORMATION ABOUT FORMER AND NON CUSTOMERS:
We have the same policy about disclosing information about former and non customers as we do about current customers.
Expenditure Policy
This policy fulfills the requirements the American Recovery and Reinvestment Act of 2009 (ARRA) enacted February 17, 2009. ARRA requires each recipient of funds under Capital Purchase Program (CPP) of the Troubled Assets Relief Program (TARP) to have in place a company-wide policy regarding excessive or luxury expenditures, as identified by the Secretary of the Department of the U.S. Treasury.
Georgia Primary Bank prohibits excessive or luxury expenditures on entertainment and events, office or facility renovations, aviation or other transportation services or activities or events that are not reasonable expenditures for conferences, staff development, reasonable performance incentives or other similar measure conducted in the normal course of business operations.
All employees and subsidiaries of Mountain Valley Bancshares, Inc. are subject to this policy. Any suspected violation of this policy should be reported to a member of the executive management or to the chairman of the audit committee. This can be reported via Personnel, letter or phone.
Any violation of this policy will follow the disciplinary action as outlined in our Personnel Manual, which includes oral reprimand, formal written reprimand, and termination. None of these steps preclude immediate termination if warranted.
Renovations:
Renovations of facilities and office spaces should be relative to the approved current business plan, and tracked within the capital expenditure policy of the Company. An exception of this can be allowed if management must deal with an emergency situation, such as an act of nature, and the expenditure is necessary to make the facility operational for customer use.
At no time should renovations be done that would have the appearance of being extraordinary, or excessive.
Entertainment:
Entertainment is defined as an activity that an Employee or Executive would use corporate funds for business development purposes relating to a current customer (s) or to further enhance the Company's marketing efforts. Excessive entertainment or an excessive event is defined as any single occurrence or event where the activity is not designed to enhance the marketing efforts of the ban or support business development efforts of the bank.
Our exception is that all expenses incurred to the Bank would be for company purposes, and used to generate for the bank.
Events and parties focused on customers for the purpose of attracting their business would not fall under this policy.
Conferences:
We encourage our staff to attend conferences that are appropriate educational opportunities. These conferences should be related to the financial services industry and have a direct correlation to their jog. At times it may be appropriate that a spouse would travel to these conferences with Company attendees. Typically these conferences are sponsored by vendors, banking associations, or other industry related entities.
Employee Recognition / Holiday Parties:
We feel that employee recognition/holiday parties are part of an employee appreciation process. These events should be local in geographic nature, and should not cost the Company more than an average days payroll per employee, on average. (If the payroll is $2M annually divided by 260 days, equals $8K in expenses available for the appropriate holiday party).
Board / Management Retreats:
Board Retreats should only be used for educational purposes, and should always be kept in consideration, and looked at in the same view and discretion as all other expenses. Board education is a vital part of maintaining, and keeping a dynamic director base, and this policy should not limit a retreat that is focused on strategic planning or education.
Aviation Services:
Transportation for Company staff to conferences, business development purposes and merger and acquisition research, should be conducted in the most cost appropriate way for the Company. Modes of transportation to be used for the analysis, for example may consist of vehicle, commercial air service and and private air service. At determination of transportation analysis will factor in cost, efficiency and timeliness of travel.
