Consolidation Questions and Answers
Q:
Has the bank been sold?
A:
No. SouthCrest Bank, First National Bank of Polk County, Bank of Chickamauga, and Peachtree Bank
have been a part of SouthCrest Financial Group for years. We believe that to best serve our customers, it is
better to bring all of our banks together under one charter and one name. Our leadership team, including
market Presidents Eddie Wilson, Joseph Rheaves, Donna Wade, Laron Maloney, Gary Woods and Darren Wilson
as well as our Branch Managers, will remain the leaders of the bank in the communities that we serve, and will
ensure that we continue to improve on the great service you have received for years!
Q:
Why are you consolidating or changing your name?
A:
For many years we have been part of a larger organization, SouthCrest Financial Group. SCFG owns four
banks located in Georgia and Alabama, and consolidating will help us offer the very best banking services that
are convenient and cost effective for you. Combining our four charters will allow us to leverage technology to
make banking easier for you. We are wholly committed to our community bank model, and remain focused on
how we can best serve you as our customer and our communities’ financial needs.
Q:
When will your name change occur (for First National Bank of Polk, Bank of Chickamauga, and
Peachtree Bank)?
A:
The names will change as of close of business on Friday, February 28, 2014. On Monday, March 3rd
when we open the doors we will officially be one bank.
Q:
What will the name of the banks be?
A:
All of the banks will be named SouthCrest Bank, N.A.
Q:
Can I continue to use my same checks, debit card, loan coupon book, and credit card?
A:
YES! You can continue to use your checks, credit card and loan coupon book. Additionally, you can
continue to use your current debit card until you receive a new SouthCrest Bank debit card in the mail, which
will happen in early summer. As you need to reorder checks, the SouthCrest Bank logo will be added.
Q:
Will my direct deposit stay the same?
A:
YES! Your direct deposit can remain exactly the same.
Q:
How will Online banking, Bill Pay, and Mobile Banking adjust?
A:
While we plan to update our website so it’s even easier to use, the vast majority of customers will
continue to use your same login and passwords for Online Banking, Bill Pay, and Mobile Banking.
Q:
Are you becoming a “BIG BANK”?
A:
While we must effectively compete with the other banks in this community, we believe being a
community bank is the best way to do this. This consolidation provides more products and services to you, our
customer, and will allow our market leaders to spend more time listening to what you need. Loan decisions will
continue to occur in the local markets and we will continue to support our local non-profits, schools, and other
agencies. In fact, our goal is to give more loan authority to each individual market.
Q:
How will this affect me as a customer?
A:
There will be very little, if any, direct effect on customers other than to improve many of the services
and products you currently use, and allow us to introduce new ones such as remote deposit and the ability to
open an account or apply for a loan or credit card online. While you will see new signs around our facilities, you
can look forward to banking with the same people inside!
Q:
Can I still make loan payments at this bank?
A:
Yes! You can continue making your payment at your local bank, and once we have consolidated, you
will have the ability to make loan payments at ANY of the branches in our combined branch system. There are
fifteen locations in the new consolidated organization to serve you.
Q:
Will I keep the existing relationship with my loan officer?
A:
Yes! The SouthCrest organization is committed to community banking, and is focused on local loan
decisions.
Q:
I heard that the new bank will be regulated by the OCC. What does that mean to me as a customer?
A:
We don’t expect any impact at all on customers. Currently, some of the sister banks are chartered by
state departments of banking, and since the new consolidated organization will have banks in more than one
state, it just makes sense for all the banks to be chartered and regulated by one agency, which is the OCC (Office
of the Comptroller of the Currency). The OCC is responsible for the safety and soundness of the national
banking system. Your deposits will continue to be insured by the FDIC, just as they currently are. The FDIC
insures all types of deposits—CD's, checking, savings, money market, and NOW accounts—held in all FDICinsured depository institutions, including national banks. The permanent standard insurance amount is
$250,000, per depositor, per insured depository institution for each account ownership category.
ONE BANK, ONE FOCUS: YOU.