Bank Merger Sample

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Get a
$100GAS CARD
Just bring this coupon to your
nearest Murphy Bank branch
and move your car loan from
another bank or credit union.
*Loan qualification and annual percentage rate (APR) are based on individual
credit worthiness. Must include coupon with loan application and close on
auto loan between 5/1/14 and 6/30/14 to receive a $100 gas card. Gas card
will be mailed to you in 4-6 weeks. Cannot be used in conjunction with any
other offer. Limited offer. Subject to change.
OFFICIAL USE ONLY
LOAN # ____________________________ CLOSING DATE _________________
Frequently Asked Questions
What is my new bank routing number?
Murphy Bank’s routing number is 111924787.
My paycheck is directly deposited weekly; do I need
to notify my employer?
Your direct deposit will continue to post to your accounts
when they are converted to Murphy Bank accounts.
Will I have a choice in the type of account available
to me or will you choose one for me?
Your accounts will be transferred to the Murphy Bank
accounts that most closely fit the features and benefits
of your existing accounts. After April 28, if you determine
that another account type is more appropriate, simply
contact any Murphy Bank personal banker to change your
account type.
May I continue to use my existing checks for my
accounts?
Yes, you may. Old Towne Bank checks will continue to
clear for an undetermined amount of time after April 25.
However, your bank routing number will change. When
you reorder your checks through Murphy Bank, the routing
number at the bottom of your checks will automatically
change. If you order through another check vendor, you
will need to provide them with your new routing number.
Will the banking hours remain the same?
Yes. Both the lobby and drive-thru hours at the current
Old Towne Bank locations will remain the same as they
are now.
Will the bank staff remain the same?
Murphy Bank plans to retain all employees at the Old
Towne Bank locations. Therefore, you will continue to
bank with the same individuals who have provided the
outstanding customer service you have come to expect.
Will there be changes to the terms of my Old Towne
Bank loans?
No. Your interest rate, payment amount, due date and
terms will remain the same
How does this affect my FDIC coverage?
Your FDIC coverage at Murphy Bank is the same that you
had at Old Towne Bank. When two or more insured banks
merge, deposits for the purchased bank are separately
insured from deposits at the purchasing bank for at least
six months after the merger. This grace period gives
a depositor the opportunity to restructure his or her
accounts, if necessary. Certificate of Deposits (CDs) from
the purchased bank are separately insured until the earliest
maturity date after the end of the six month grace period.
CDs that mature during the grace period and are renewed
for the same term and in the same dollar amount (either
with or without accrued interest) continue to be separately
insured until the first maturity date after the grace period.
If a CD matures during the grace period and is renewed on
any other basis, it would be separately insured only until
the end of the six month grace period.
Will the terms of my CD change?
No. The interest rate and terms of any existing CD that you
have at Old Towne Bank will remain the same. Please refer
to the CD section in this book for complete product terms
and conditions.
When will I get my new payment book for my loan?
Murphy Bank does not use coupon books. Billing notices
are processed and mailed within 15 days of payment
due dates. Payments can be made at any Murphy Bank
location. You can continue to use your current coupon
book for payments for the life of your existing loan.
When will I receive my statement?
All Old Towne Bank checking and savings accounts will
have a statement prepared on the night of April 25. For
most customers, this will be a partial month’s statement.
After conversion, your next statement date will be as close
to your current statement date as possible. Due to partial
statements and our desire to make sure you are in the best
account possible, we will waive all service charges for three
statement cycles. Beginning with your fourth statement
cycle, standard service charging will occur.
Hurry! This offer expires on
June 30, 2014!