(1) A savings bank may require borrowers to pay all reasonable expenses incurred by the savings bank in connection with making, closing, disbursing, extending, adjusting or renewing loans.
(2) A savings bank may require a borrower to pay reasonable charges for late payments made during the course of repayment of a loan. Such payments may be levied only upon such terms and conditions as fixed by the savings bank’s board of directors and agreed to by the borrower in the loan contract. Such payments shall not be considered interest under the usury laws of this state.