Q. Why is The Bank of New Glarus acquiring First National Bank at Darlington?
A. Both organizations see tremendous synergies in combining our respective strengths into a single, more competitive financial institution with more than 200 years of combined financial expertise. As community banks, we will continue to provide the dedicated service to our customers and our communities.
Q. Will First National Bank at Darlington be called “The Bank of New Glarus” in the future?
A. Yes, both locations (Darlington and Gratiot) will be named The Bank of New Glarus.
Q. Will either First National Bank at Darlington branch locations be closed (Darlington or Gratiot)?
A. No, both First National Bank at Darlington locations in Darlington and Gratiot will remain open and renamed The Bank of New Glarus.
Q. What changes are coming because of this acquisition?
A. Integrating the two financial institutions required significant planning and execution. Benefits of this integration include:
- More locations. Combined we will have 9 branch locations across Green, Lafayette and Dane counties.
- Increased lending limits.
- Enhanced deposit account offerings.
- Expanded personal loan options.
- More mortgage choices.
Q: What if I have accounts at both banks?
A: Your customer profile will be consolidated into one set of accounts in the first part of 2025. Until then, you will continue to use the current online banking credentials you use today.
Q. Can First National Bank at Darlington clients utilize The Bank of New Glarus branches for banking services?
A. Yes, customers will be able to utilize all nine branch locations. This includes:
- Darlington
- Gratiot
- Brodhead
- Belleville
- Juda
- New Glarus - Highway
- New Glarus - Main
- Monroe
- Madison LPO - Loan Processing Office only
Q. Will any products or services offered by the former First National Bank at Darlington be changed or eliminated?
A. We do not anticipate eliminating any products or services until a year from now. This is a partnership of two healthy organizations, which means more benefits for our clients.
Q. Will there be any impact on scheduled events within the community?
A. There will be no immediate impact on scheduled events within any of our communities. As community banks, we share a commitment to delivering exceptional service and giving back to our neighborhoods, and local businesses.
Q. Will any First National Bank at Darlington employees lose their jobs?
A. First National Bank employees will have the opportunity to be part of the combined organization. Ron Schaaf (President and CEO) and the management staff of The Bank of New Glarus have spent time getting to know all former First National Bank employees. The Bank of New Glarus is committed to the growth of all employees across their career paths.
Q: How will the acquisition impact my accounts?
Your basic banking information, including account numbers, will not change until 2025. You will receive new information from The Bank of New Glarus when these changes take place. Until then, you will not need to replace cards or update automatic payments associated with your account(s).
Q. Will the hours of operation change for Darlington and Gratiot locations?
A. Each branch location will continue with the current hours of operation.
Q. I just ordered checks; will I have to get new checks?
A: No, you can continue to use your current checks and no further action is required.
Q: What if I have outstanding checks or pending transactions?
A: All outstanding checks and transactions along with future transactions will be processed as normal.
Q: Will my direct deposits and automatic payments continue?
A: These deposits and payments will remain in place as they are today. Starting in 2025, new direct deposits and automatic payments will reflect an updated routing number.
Q. Will Bank Office hours change?
A. Office Hours and Drive-up hours will remain the same at the Darlington and Gratiot locations.
Q. Will I still be able to use my debit card?
A. You can continue to use your debit card until replacement cards are sent in early 2025. We will notify cardholders on any future changes/enhancements.
Q. Will my account number(s) change?
A. In most cases, no. If there is a duplicate account number between banks, those customers at each bank will be contacted by a Personal Banker.
Q. Will my products and services change?
A: There may be changes to fee structures, interest rates, and account features in 2025. More information will be provided in advance of any account type changes.
Q: What about my safety deposit box?
A: Safe Deposit Boxes will remain available at Darlington and Gratiot. You will continue to use the same keys as before.
Q: Can I continue to make my loan payment at the Darlington and Gratiot locations?
A: Yes.
Q: How will customer service be affected?
A: You can continue to contact your local Darlington 608-776-4071 and Gratiot 608-922-6422, locations as you do today. Soon, you will have the added benefit of an expanded Customer Support Department that handle many common customer questions and requests. Our Customer Care Team will assist you during all business hours and can be reached at 608-527-5205
Q. Will I have enough FDIC coverage if I have accounts at both banks?
A. Insurable deposits are based on account ownership/titling. Per the FDIC. “When two or more insured banks merge, deposits from the assumed bank are separately insured from deposits at the assuming 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.
CDs from the assumed bank are separately insured until the earliest maturity date after the end of the six-month grace period. CDs that mature during the six-month 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 six-month period. If a CD matures during the six-month grace period and is renewed on any other basis, it would be separately insured only until the end of the six-month grace period.” You may contact a Personal Banker for assistance or to calculate FDIC coverage for different scenarios, please visit the FDIC’s Electronic Deposit Insurance Estimator (EDIE) at https://www.fdic.gov/edie/