The ability to effectively access and manage your money is critically important to you. Choosing a bank you are comfortable with and have confidence in, can make all the difference. That’s why finding out that your bank has merged with, or been acquired by, another bank can be so unsettling. Fortunately, there are some simple things you can do, to be informed and prepared for when it happens.

Key things to monitor and review when your bank is involved in a merger or acquisition:

1. Monitor your lending relationships carefully - Bank mergers often lead to changes in lending policies, credit appetites, and relationship managers. Keep close contact with your banking team and try to understand early on if there will be changes to your credit facilities or relationship structure.

2. Watch for service disruptions - During transitions, there may be temporary issues with online banking, payment processing, or other critical services. Have backup plans ready, particularly for essential functions like payroll and vendor payments.

3. Review your credit agreements and terms - Merged banks sometimes change fee structures, minimum balance requirements, or other account terms. Read all communications carefully and evaluate if the new terms align with your business needs.

4. Evaluate the combined bank's capabilities - The merged institution may offer new services beneficial to your business, but might also discontinue services you currently use. Assess whether the new bank's geographic footprint, technology platform, and product suite match your needs.

5. Consider your deposit insurance coverage - If you have large deposits, verify that your accounts remain within FDIC insurance limits, especially if you already have accounts at both merging institutions.

Important steps you can take now to be prepared:

• Request a meeting with your current bank to discuss any pending plans for your account type, post-merger
• Document all your current banking services, fees, and requirements, so you can compare them with other potential banks.
• Meet with 2-3 competing banks to understand their business offerings and level of service.
• Pay special attention to banks that specialize in your business size and industry to help ensure you find the best match for your unique needs.

Explore other banking options BEFORE any changes are implemented.

1. This gives you time to thoroughly evaluate alternatives without pressure. Bank mergers typically take 6-12 months to fully integrate operations, giving you a window to research options calmly.
2. You'll be in a stronger negotiating position with both your current bank and potential new banks if you start the process early. If your current bank announces changes you don't like, you'll already have relationships and possibly pre-approved accounts with alternatives.
3. Account transitions can take time, especially if you have:
   • Multiple linked accounts
   • Automated payments and deposits set up
   • Merchant services or payment processing
   • Outstanding loans or lines of credit

Interested in hearing more? Let’s talk!

If you’re not yet a Northern Bank customer and are thinking about making Northern Bank your bank, let’s talk.

Send us an email to Info@NBTC.com or give us a call at 800-273-6908 Option "0".

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