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It is the policy of Premier Service Bank (the “Bank”) that its Principal and Other Financial Officers conduct business in accordance with the highest ethical standards in order to merit and maintain the complete confidence and trust of the Bank’s customers, shareholders and the public interest in general.  Principal and Other Financial Officers must conduct their personal affairs and manage their business transactions in a manner which does not result in adverse comments or criticism from the public or in any way damage the Bank’s reputation as a responsible financial services provider.

 

This policy addresses the requirements for:

 

• Honest and ethical conduct between personal and professional relationships,
• Full, fair and accurate disclosure of reports,
• Compliance with applicable laws,
• Internal procedure for prompt reporting of violations to this policy and
• Accountability for adherence to the policy.

 

The term “Principal and Other Financial Officers” refers to all of the Bank’s executive officers and other financial officers, including but not limited to the chief executive officer, the chief financial officer, the chief credit officer and other officers performing similar functions.  This Code of Ethics for Principal and Other Financial Officers is intended to supplement the requirements in the Ethics Policy of the Bank that is presented in the Personnel Policy Manual and the Ethics Policy of the Bank that is areapplicable to all of the Bank’s officers and employees.

 

CODE OF ETHICS

Honest and Ethical Conduct.  It is the policy of the Bank that all Principal and Other Financial Officers act in an honest and ethical manner, including the handling of actual or apparent conflict of interest between personal and professional relationships.  The Bank expects its Principal and Other Financial Officers to use good judgment and high ethical standards and to refrain from any form of illegal, dishonest or unethical conduct.  Additionally, Principal and Other Financial Officers may not personally, or cause anyone else to, influence, coerce, manipulate or mislead any accountant engaged in preparing an audit for the Bank.

 

Full, Fair and Timely Disclosure.  It is the policy of the Bank that Principal and Other Financial Officers provide to shareholders and financial markets fair, accurate, timely and understandable disclosure in all reports and other documents that the Bank files with, or submits to the Federal Deposit Insurance Corporation and other public communications as applicable.  The Bank realizes that only through such full, fair and timely disclosure can shareholders truly analyze the credibility of the Bank.

 

Compliance with Applicable Government Laws and Regulations.  Principal and Other Financial Officers must fully comply with the spirit and intent of all applicable laws, regulations and corporate governance standards.

 

Internal Reporting of Code Violations.  The Bank is committed to establishing procedures that will permit the receipt, retention and treatment of complaints received by the Bank regarding accounting, internal accounting controls or other accounting matters.  The Principal and Other Financial Officers will proactively promote both ethical behavior and compliance with this Code of Ethics.  The Bank encourages Principal and Other Financial Officers as well as other Bank officers and employees to talk to supervisors, managers, or other appropriate personnel when in doubt about the best course of action in a particular situation.  Additionally, Principal and Other Financial Officers as well as other officers and employees of the Bank should report violations of laws, rules, regulations or codes of business conduct to the Audit Committee.  The Bank will not permit retaliation against any employee for reports of breaches of this Code of Ethics made in good faith.

 

Administration of the Code of Ethics.  It is the responsibility of each Principal or Other Financial Officer to be familiar with this Code of Ethics and the Ethics Policy of the Bank.  The Chairman of the Board of Directors and the Chairman of the Audit Committee are expected to make every reasonable effort to ensure that Principal and Other Financial Officers comply with the provisions of this Code of Ethics.  Principal and Other Financial Officers who violate the provisions of this Code of Ethics may be subject to disciplinary action, up to and including dismissal from employment.

 

DISCLOSURE

Disclosure of Code of Ethics.  As a company which files periodic reports with the Federal Deposit Insurance Corporation under the Securities Exchange Act of 1934, the Bank is required to make this Principal and Other Financial Officers Code of Ethics publicly available.  The Bank will accomplish this by filing a copy of this Code of Ethics as an exhibit to its annual report on form 10K-SB, and stating in that annual report that a copy of this Code of Ethics is available upon request.

 

Waivers.  Any waiver of any provision of this Principal and Other Financial Officers Code of Ethics may be only with the prior written consent of the Chairman of the Board of Directors or a committee of the Board appointed by the Chairman.  Any material waiver must be promptly disclosed to the shareholders of the Bank and to the public with the filing of a Form 8-K.

 

 

 

 

 

 

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