Frequently Asked Questions by First National Bank, Sioux City, Sioux Center, Le Mars Customers

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Frequently Asked Questions by First National Bank,
Sioux City, Sioux Center, Le Mars Customers

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1. Why did you make this change right now?

The time is just right. As you may know, First National Bank of Sioux Center, Le Mars and Sioux City and Northwest Bank have been held by the same family-owned organization for over a decade. During that time, our presence in Sioux City, Sioux Center and Le Mars has steadily grown. By combining two great institutions we will be a $1.3 billion dollar bank with over $123 million in capital. With this size we can make a bigger impact with our customers and communities.

In the long run, size and scale count. The best customer service will depend on broader investments in technology, the ability to handle bigger loans and our desire to create the impact that a larger institution can deliver.

2. When is the name officially changing?

Northwest Bank will complete the merger of First National Bank in Sioux City, Sioux Center, and Le Mars mid-October, 2013.

3. Where is Northwest Bank located?

The following is a complete list of current Northwest Bank branch locations.

 

4. Will I still be able to use my checks and debit card?

You will still use your debit cards and checks as you always have. If any changes are needed for the merger, you will be notified well in advance. At some point, all First National Bank checks will be replaced by Northwest Bank.

5. Where can I go for online banking? Will my username and password remain the same?

Until the transition is completed, continue to access all of your online banking resources as you have in the past. Once the transition is completed, online banking will be redirected to the Northwest Bank website at www.bank-northwest.com. Your online banking system sign-on will most likely remain the same, allowing you to use your previously established online account login and password. Any changes will be communicated to customers well in advance.

6. Will my account information change?

First National Bank of Sioux Center, Le Mars and Sioux City and Northwest Bank have been held by the same family-owned organization for over a decade. Due to the similar operations, there is a low likelihood that we should have to change any customer account information. If customer account information does have to be altered, our leadership team will personally work with each individual customer to address any questions and ensure that all information is communicated in a clear and concise manner.

7. Will this affect the status of my loan, interest rate, line of credit?

The transition will not affect the status of any current loans, interest rates or lines of credit. These items will remain the same, and be serviced in a manner consistent with past experiences. Additionally, the legal lending limit of the bank will go up and additional expertise in specialty business lines will be available.

8. Will the bank’s contact information change?

No. All local First National Bank phone numbers will remain the same. The website will change to Northwest Bank’s website: www.Bank-Northwest.com.

9. Will I be receiving a letter explaining the conversion?

Yes. You will receive a letter no less than 30 days in advance of the transition. Northwest Bank will continue to provide information as it is available. Northwest Bank will also be putting details on their website to help answer questions.

10. You have said things won’t change, but what WILL change?

Our goal is that signage will be the biggest change. By undertaking a careful and thoughtful process we also expect to improve the customer experience. We are here to serve you, and we look forward to doing that through increased lending limits, an experienced and seasoned leadership team, ongoing community reinvestment and increased community banking options.

11. Who will be the local decision maker in my bank?

As has been the case, each location has a leader who makes local decisions, which will not change. The person you are used to interacting with at your location will remain the same, and they will continue to have decision making power at a local level. As we grow, we look forward to continuing to build and strengthen our relationship with you through additional products and services.

12. Will the CEO of Northwest Bank live in my community?

Northwest Bank has banking locations throughout Iowa and eastern Nebraska and the CEO of Northwest Bank will remain in his current Northwest Bank community. However, a member of the leadership team at your banking location will continue to live and be active in your community. The Northwest Bank business plan has always been to provide world-class products and services with a community-minded approach.

13. Is this a measure to cut costs?

Strong businesses always strive to do more with the same resources. Combining the resources of these two banks will mean more capabilities, and should help offset costs related to regulatory changes, technology and expanding future services. In this effort some costs can be streamlined; however, that is only temporary as we face very certain future cost increases and new investments. Our goal with this transition is to increase the availability of products and services important to our customers.

14. Is the bank OK financially?

Absolutely! Combined, First National Bank and Northwest Bank will be over $1.3 billion in size with $123 million dollars in capital. The combined bank will be one of the top 10 largest banks in Iowa! With this size it is important that we take a leadership position in each of our communities. This transition will allow us to do just that, while introducing our customers to the value-added benefits that come with a larger banking operation.

15. What number should I call if I have questions?

If you have questions, please contact any of our convenient locations to answer any questions you may have. For your convenience, you may also reach us toll-free at 1-800-678-4105 and we will be happy to assist you.

16. What can I expect next?

Northwest Bank will be sending you an information guide containing important information. If applicable to your account, ATM Cards, Debit Cards, and/or Checks will be mailed to you.