What is an Agency?

An agency is a contractual relationship between parties granting authority for an agent to act on behalf of and under the direction of the principal.

The Bank of Commerce Trust Services, as an agent acts to ensure that accurate record keeping is reported. Our professional staff works with you to process your instructions as directed and make certain that assets are titled correctly. Our scope of responsibilities and duties is determined by the Agency Agreement created at account opening.

Types of Agency Accounts

Trust Agency

Many clients create a living revocable trust to hold assets. In these arrangements they will serve as trustee. Through an Agency Agreement you authorize the bank to hold, manage, invest and distribute assets as you direct. This is beneficial for many clients who wish to travel or may become ill and wish for someone else to oversee their financial affairs.

The same service can be used by individuals who are named as Trustee and desire help to fulfill their fiduciary duty, as trustee.

The Bank of Commerce Trust Services can act as an agent of a trust and may fulfill the following duties under the trustee's direction:

• Perform an annual review and discuss any concerns brought up in the assessment.
• Provide principal and income accounting, showing the activity of the account (which can be provided to the beneficiaries of the trust).
• Prepare appropriate tax forms and returns.
• Pay bills as requested.
• Perform other tasks as outlined in the Agency Agreement.

Personal Agency

This type of agency account allows for flexibility necessitated by a busy life. Through an Agency Agreement you authorize the Bank to hold, manage, invest and distribute assets as you direct. The Bank of Commerce Trust Services can act as an agent and may fulfill the following duties under your direction:

• Buy or sell, stock, bond, mutual fund or certificate of deposit on your behalf.
• Pay bills as requested.
• Collect rental income from your investment properties.
• Provide year-end reports to assist you and your tax preparer.
• Perform other tasks as outlined in the Agency Agreement.

Nonbank products are not FDIC insured, are not a deposit and are not insured by any federal government agency. Additionally, nonbank products are not guaranteed by the Bank and are subject to loss of principal