Privacy Disclosure Statement

FACTS	WHAT DOES Grand Marais State 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 account balances credit history and payment history income and transaction history When you are no longer our customer, we continue to share your information as described in this notice
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 GRAND MARAIS STATE BANK chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information	Does GRAND MARAIS STATE 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	No	We don't share
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	We don't share
For nonaffiliates to market to you	No	We don't share

Questions?

Call 800-835-1293 or go to www.GrandMaraisStateBank.com

Who we are
Who is providing this notice?	GRAND MARAIS STATE BANK
What we do
How does GRAND MARAIS STATE 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 computer safeguards and secured files and buildings.
How does GRAND MARAIS STATE BANK collect my personal information?	We collect your personal information, for example, when you open an account or apply for a loan make deposits or withdrawals from your account or show your driver's license 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 creditworthiness affiliates from using your information to market to you sharing for nonaffiliates to market to you State laws and individual companies may give you additional rights to limit sharing.
Definitions
Affiliates	Companies related by common ownership or control. They can be financial and nonfinancial companies. GRAND MARAIS STATE BANK does not share with our affiliates.
Nonaffiliates	Companies not related by common ownership or control. They can be financial and nonfinancial companies GRAND MARAIS STATE BANK does not share with nonaffiliates so they can market to you.
Joint marketing	A formal agreement between nonaffiliated financial companies that together market financial products or services to you. GRAND MARAIS STATE BANK doesn't jointly market.

Customer Identification Requirements
In accordance with Section 326 of the USA PATRIOT ACT signed October 26, 2001, Grand Marais State Bank is required to obtain, verify and record information used in identifying our new account customers and in identifying signatory individuals added to an existing or new account. In some cases, identification will be requested for those individuals banking with the Bank prior to the effective date of the customer identification requirements because original documentation was not obtained with the opening of the account, or the Bank is unable to form a reasonable belief that it knows the true identity of the existing customer. In all cases the protection of our customer's identity and confidentiality is the Bank's pledge to you.