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Central Bank Welcome Letter
October 14, 2011
Dear Valued Customer:
Central Bank has officially purchased all of the deposit and most of the loan accounts of The RiverBank from the FDIC as receiver for The RiverBank. We want to welcome you to Central Bank and look forward to serving your banking needs.
Please be assured, every one of your accounts remains safe, secure and accessible. You may continue to use your existing checks, loan coupons, and debit cards. You may also continue to access telephone and online banking, ATMs, and your local banking office as you normally would.
Central Bank may be a new name to you, but we have been serving communities in many parts of the metro area and the St. Croix Valley since our founding in 1988. We are a locally owned and operated community bank.
Existing Central Bank offices are located in Stillwater, White Bear Lake, Golden Valley, Eden Prairie, Coon Rapids, St. Michael, Center City, Forest Lake, Centerville, South St. Paul, Newport, Minneapolis, Elk River, Hudson, WI and Ft. Myers, FL. With the acquisition of The RiverBank, we continue to be one of the largest and strongest community banks in the area.
Please know that we are dedicated to making this transition as seamless as possible. We will keep you informed as more information becomes available on the conversion from The RiverBank to Central Bank. In the meantime, we want to provide you with some important information regarding your deposit accounts:
- All deposit accounts continue to be insured by the FDIC, up to the FDIC limits. Your transferred deposits will be separately insured from any accounts you may already have at Central Bank for at least six months.
- Certificate of Deposit customers may withdraw funds from any transferred account without an early withdrawal penalty until a new agreement is entered with Central Bank as long as the deposits are not pledged as collateral for loans.
- All interest accrued through Friday, October 7, 2011, will be paid at your same rate. All rates will remain the same until a notification of change is provided by Central Bank.
- Your direct deposit(s) and/or automatic withdrawal(s) will be transferred to Central Bank.
- Please see the enclosed Notice to Depositors that contains important information about how to claim ownership of your deposit.
For more information, please visit your current banking location, any existing Central Bank, or call us at 888-294-2183. We also invite you to visit our website at www.centralbnk.com. We appreciate your business and look forward to serving you.
Sincerely,
Larry Albert
Chief Executive Officer
Central Bank
