Exhibit 25.1


SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 


 

FORM T-1

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

 


 

¨ CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO

SECTION 305(b) (2)

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Exact name of trustee as specified in its charter)

 

A National Banking Association       94-1347393

(Jurisdiction of incorporation or

organization if not a U.S. national

bank)

     

(I.R.S. Employer

Identification No.)

 

101 North Phillips Avenue

Sioux Falls, South Dakota

      57104
(Address of principal executive offices)       (Zip code)

 

Wells Fargo & Company

Law Department, Trust Section

MAC N9305-175

Sixth Street and Marquette Avenue, 17th Floor

Minneapolis, Minnesota 55479

(612) 667-4608

(Name, address and telephone number of agent for service)

 


 

DELUXE CORPORATION

(Exact name of obligor as specified in its charter)

 

Minnesota       41-0216800

(State or other jurisdiction of

incorporation or organization)

     

(I.R.S. Employer

Identification No.)

 

3680 Victoria Street North

Shoreview, Minnesota

      55126
(Address of principal executive offices)       (Zip code)

 


 

3 1/2% Senior Notes due 2007, series B

5 1/8% Senior Notes due 2014, series B

(Title of the indenture securities)

 



Item 1. General Information. Furnish the following information as to the trustee:

 

  (a) Name and address of each examining or supervising authority to which it is subject.

 

Comptroller of the Currency

Treasury Department

Washington, D.C.

 

Federal Deposit Insurance Corporation

Washington, D.C.

 

Federal Reserve Bank of San Francisco

San Francisco, California 94120

 

  (b) Whether it is authorized to exercise corporate trust powers.

 

The trustee is authorized to exercise corporate trust powers.

 

Item 2. Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.

 

None with respect to the trustee.

 

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

 

Item 15. Foreign Trustee. Not applicable.

 

Item 16. List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.

 

Exhibit 1.    A copy of the Articles of Association of the trustee now in effect.*
Exhibit 2.    A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.**
Exhibit 3.    See Exhibit 2
Exhibit 4.    Copy of By-laws of the trustee as now in effect.***
Exhibit 5.    Not applicable.
Exhibit 6.    The consent of the trustee required by Section 321(b) of the Act.
Exhibit 7.    A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
Exhibit 8.    Not applicable.
Exhibit 9.    Not applicable.

* Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.


** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.
*** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.


SIGNATURE

 

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Minneapolis and State of Minnesota on the 13th of October 2004.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ Michael T. Lechner


Michael T. Lechner

Vice President


EXHIBIT 6

 

October 13, 2004

 

Securities and Exchange Commission

Washington, D.C. 20549

 

Gentlemen:

 

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

 

Very truly yours,

WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ Michael T. Lechner


Michael T. Lechner

Vice President


Consolidated Report of Condition of

 

Wells Fargo Bank National Association

of 101 North Phillips Avenue, Sioux Falls, SD 57104

And Foreign and Domestic Subsidiaries,

at the close of business June 30, 2004, filed in accordance with 12 U.S.C. §161 for National Banks.

 

         

Dollar Amounts

In Millions


ASSETS

           

Cash and balances due from depository institutions:

           

Noninterest-bearing balances and currency and coin

        $ 13,514

Interest-bearing balances

          6,815

Securities:

           

Held-to-maturity securities

          0

Available-for-sale securities

          31,813

Federal funds sold and securities purchased under agreements to resell:

           

Federal funds sold in domestic offices

          1,295

Securities purchased under agreements to resell

          72

Loans and lease financing receivables:

           

Loans and leases held for sale

          38,430

Loans and leases, net of unearned income

   236,685       

LESS: Allowance for loan and lease losses

   2,551       

Loans and leases, net of unearned income and allowance

          234,134

Trading Assets

          4,575

Premises and fixed assets (including capitalized leases)

          3,194

Other real estate owned

          201

Investments in unconsolidated subsidiaries and associated companies

          289

Customers’ liability to this bank on acceptances outstanding

          78

Intangible assets

           

Goodwill

          8,415

Other intangible assets

          9,260

Other assets

          12,613
         

Total assets

        $ 364,698
         

LIABILITIES

           

Deposits:

           

In domestic offices

        $ 255,500

Noninterest-bearing

   79,405       

Interest-bearing

   176,095       

In foreign offices, Edge and Agreement subsidiaries, and IBFs

          19,351

Noninterest-bearing

   3       

Interest-bearing

   19,348       

Federal funds purchased and securities sold under agreements to repurchase:

           

Federal funds purchased in domestic offices

          15,599

Securities sold under agreements to repurchase

          2,920


    

Dollar Amounts

In Millions


Trading liabilities

     3,575

Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases)

     17,550

Bank’s liability on acceptances executed and outstanding

     78

Subordinated notes and debentures

     4,541

Other liabilities

     12,296
    

Total liabilities

   $ 331,410

Minority interest in consolidated subsidiaries

     54

EQUITY CAPITAL

      

Perpetual preferred stock and related surplus

     0

Common stock

     520

Surplus (exclude all surplus related to preferred stock)

     24,182

Retained earnings

     8,088

Accumulated other comprehensive income

     444

Other equity capital components

     0
    

Total equity capital

     33,234
    

Total liabilities, minority interest, and equity capital

   $ 364,698
    

 

I, James E. Hanson, Vice President of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.

 

James E. Hanson

Vice President

 

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

 

Dave Hoyt

   

Dave Munio

  Directors

Carrie Tolstedt

   

 

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