Dear Valued Customer,
As promised, we want to keep you informed about the progress of our merger with First Interstate Bank. We believe the merger of the two holding companies will take place in July 2014. Upon the closing of that transaction, we will be working toward the merger of the two banks, hopefully in the fall of 2014. Some of the most frequently asked questions by our customers are as follows:
~Will my account number be changed?
Except for rare cases of duplicate account numbers between the two banks, there will be no need to change any of your account numbers as a result of the merger.
~Will I need to order new checks once the merger is complete?
You may continue to use your Mountain West checks until you run out of them and need to reorder. When you re-order checks following the completed merger this fall, you will receive First Interstate Bank checks. So, continue using your current supply of checks; they will continue to be processed just as they always have. Only in rare cases of duplicate account numbers requiring an account number change would a customer need to re-order checks once the merger is completed.
~What, if any, changes will there be to the debit/ATM card I currently have?
As mentioned, the actual merger of the two banks will likely take place in the fall of this year. At that time, you will receive a new debit/ATM card; your previous card will be cancelled simultaneously.
~Do I need to notify Social Security or any other entities that process automatic deposits or withdrawals from my account(s)?
The deposits and withdrawals that post automatically to your checking or savings account will continue to be processed the same way they always have. Only in rare cases of duplicate account numbers requiring an account number change would a customer need to notify Social Security or other entities that process automatic deposits or withdrawals from an account.
~I have a loan with Mountain West Bank; do I need to do anything with my loan?
The terms and conditions in your loan contract remain as stated. There is no need for you to do anything.
~I currently use a certain Mountain West branch to do my banking. Is there any information about which branches will remain open and which may be closed?
Considerable information is being analyzed, which will in part decide which locations, if any, will be closed. This should be known shortly after the completion of the merger transaction in July.
~Will I be able to work with the same loan officer or customer service representative after the merger?
Those decisions are being worked on at this very time. First Interstate Bank is a Montana-based, community bank with the same values and operating philosophy as Mountain West. You can be assured that when the merger of our companies is complete, you will continue to enjoy the same personalized service and local decision-making you've come to expect, no matter which lender or customer service representative you work with.
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