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Depositor Notice Re: Insurance Coverage (Avenger Closing) … - fdic coverage calculator adding beneficiaries

NA1NA2NA3NA4IMPORTANT NOTICE TO DEPOSIT ACCOUNT HOLDERS REGARDING FDIC INSURANCE COVERAGE FOLLOWING THE MERGER OF ALLEGHENY VALLEY BANK OF PITTSBURGH AND STANDARD BANK, PaSBBackground: Effective at the close of business on April 7, 2017, Allegheny Valley Bank of Pittsburgh merged with and into Standard Bank, PaSB. As a result, Allegheny Valley Bank accounts and Standard Bank accounts have merged together into the combined bank. That combination affected the FDIC insurance limits of customers who had accounts at both banks. The FDIC deposit insurance coverage limit is $250,000 per depositor, per ownership category. How this affects you: Our records indicate that your deposit account balances exceed the FDIC insurance limit as a result of the merger; however, don’t worry there is ample time for you to determine what you want to do. Deposit accounts from Allegheny Valley Bank are separately insured from deposit accounts at Standard Bank for a six-month grace period after the effective date of the merger (until October 7, 2017). We will work with you to evaluate and possibly make adjustments to your accounts before the separate insurance expires. After this grace period expires, the balance of your accounts that exceeds the FDIC insurance limit will not be insured by the FDIC. Please note, however, the six-month grace period does not apply to Allegheny Valley Bank CDs. Those accounts will continue to have separate deposit insurance coverage until the CD matures.What you need to do: Since deposit balances per ownership category over $250,000 will NOT be insured by the FDIC after October 7, 2017 we encourage you to consider restructuring your deposit accounts. What Standard Bank will do for you: You will be contacted within the next week by one of our friendly customer service representatives who will help to ensure you fully understand the FDIC rules and they will provide you alternatives for restructuring your accounts. Remember, if you have Allegheny Valley Bank CDs, you do NOT need to do anything until they mature. At that time, you will need to analyze your deposit relationship with Standard Bank to make sure account balances do not exceed a combined $250,000 total, if you want your accounts to be fully insured.We have enclosed an FDIC brochure which will help answer some additional questions for you. Our customer service representatives look forward to helping you. Sincerely,-666755080005355989686100Tim ZimmermanChief Executive Officer -647700005713535524500Andy HasleyPresident

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