WHAT DOES PARAGON BANK DO

WITH YOUR PERSONAL INFORMATION?

Why?

Financial companies choose how they share your personal information.  Federal law gives consumers the right to limit some but not all sharing.  Federal law also requires us to tell you how we collect, share and protect your personal information.  Please read this notice carefully to understand what we do.

What?

The types of personal information we collect and share depend on the product or service you have with us.  This information can include:

§  Social Security number and income

§  Account balances and payment history

§  Credit history and credit scores

How?

All financial companies need to share customers’ personal information to run their everyday business.  In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons PARAGON BANK chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information

Does

Paragon Bank share?

Can you limit this sharing?

For our everyday business purposes-

Such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus

YES

NO

For our marketing purposes –

To offer our products and services to you

YES

NO

For joint marketing with other financial companies

YES

YES

For our affiliates’ everyday business purposes –

Information about your transactions and experiences

NO

WE DON’T SHARE

For our affiliates’ everyday business purposes –

Information about your creditworthiness

NO

WE DON’T SHARE

For our affiliates to market to you

NO

For non-affiliates to market to you

YES

YES

To limit our

sharing

§  Call 507-553-6311 or

§  Mail the form below

Please note:  If you are a new customer, we can begin sharing your information 30 days from the date we provided  this notice.  When you are no longer our customer, we continue to share your information as described in this notice.  However, you can contact us at any time to limit our sharing.

Questions?

Call 507-553-6311 or visit our website at  www.paragonbankmn.com

Mail-In Form

If you have a joint account, your choice(s) will apply to everyone on your accounts unless you mark below

        Apply my choices only to me

Mark any/all you want to limit:

        Do not allow your affiliates to use my personal information to market to me.

        Do not share my personal information with non-affiliates to market their products and services to me.

Name

Mail to:

Paragon Bank

190 S Broadway

PO Box 330

Wells MN 56097

Address

City, State, Zip

Who we are

Who is providing this notice?

PARAGON BANK

What we do

How does PARAGON BANK protect my personal information?

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law.  These measures include physical, electronic, and procedural safeguards.

How does PARAGON BANK collect my personal information?

We collect your personal information from the following sources

·         Open an account or show your driver’s license

·         Apply for a loan or give us your income information

·         Make a wire transfer or give us your contact information

We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

Why can’t I limit all sharing?

Federal law gives you the right to limit only

·         Sharing for affiliates’ everyday business purposes – information about your credit worthiness

·         Affiliates from using your information to market to you

·         Sharing for non-affiliates to market to you

State laws and individual companies may give you additional rights to limit sharing.

What happens when I limit sharing for an account I hold jointly with someone else?

Your choices will apply to everyone on your account.

Definitions

Affiliates

Companies related by common ownership or control.  They can be financial and non-financial companies.

·         Paragon Bank does not share with our affiliates.

Non-affiliates

Companies not related by common ownership or control.  They can be financial and non-financial companies. 

·         Non-affiliates we share with can include insurance companies, mortgage companies and direct marketing companies.

Joint marketing

A formal agreement between non-affiliated financial companies that together market financial products or services to you.

·         Our joint marketing partners include insurance companies and credit card companies.