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Iowa Prairie Bank Merger Information

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Welcome to Iowa State Bank!

On December 6, 2021, Iowa Prairie Bank will merge with/into Iowa State Bank!

 

What this means to you and your accounts...

This merger offers additional enhancements to the accounts you have, and more financial options to choose from to meet your needs. Product and services such as mobile banking and our great line of Kasasa checking and savings accounts, along with secondary market real estate loan options will become available to you on December 6, 2021. We encourage you to refer to this web page for current information about the merger. 

Iowa State Bank has a proud heritage...

of offering financial services with a level of personal service that is second-to-none. We're large enough to offer all the conveniences and specialized services you want, while preserving our local responsiveness and strong commitment to each bank's community. We're proud to have over 140 years of growth and success at Iowa State Bank, and welcome you to our family of customers!

Important Dates to Remember

  • Nov 29 - Dec 3: Iowa Prairie Bank account holders will receive their new Iowa State Bank debit cards by mail
  • December 3:  Iowa Prairie Bank's online banking will be offline starting at 6:00pm
  • December 3-5: Conversion of data processing systems 
  • December 6: Iowa Prairie Bank accounts are fully integrated into Iowa State Bank. Your new Iowa State Bank debit card is now ready for use. You can now enroll in the Iowa State Bank online banking system.

About Your Account Number

For most customers your account number will remain the same. There are a small number of accounts that have been identified as duplicate account numbers with another Iowa State Bank account, as such we will need to change the account number on those accounts. Those customers will receive a separate letter with additional information.

PLEASE NOTE: The transit routing number will change. Iowa State Bank's transit routing number is 073922432.

Be sure to change any direct deposits you currently have set up through Iowa Prairie Bank to utilize the new transit number (and new account number if your number is changing) effective December 6, 2021. This will prevent any unnecessary delays in crediting funds to your account. If you have any questions about your account number, just give us a call.

To change information for Social Security direct deposits, please visit www.ssa.gov. Request that these changes take place after your December 2021 deposit, but in time for your January 2022 deposit.

 

About Checks and Debit Cards

CHECKS:  Complimentary checks have been ordered and are expected to arrive later in December. Please continue to use your current Iowa Prairie checks until your new checks arrive,which will be processed as usual. If you receive your new checks before December 6, you can start using them on/after December 6.

DEBIT CARDS: If you have a debit card, your new Iowa State Bank debit card has been ordered and is expected to arrive the first week in December. You can begin using the new Iowa State Bank debit card on or after December 6, 2021. Your current Iowa Prairie Bank debit card will be closed on December 9, 2021. Please note: If you have automatic or recurring debits set up on your account, be sure to provide the new card number and expiration date to every vendor that directly debits your account. 

Iowa State Bank Debit Card Activation: You may activate your new Iowa State Bank debit card upon receipt by calling the number provided on the label. Begin using this new card on/after December 6 or once you receive it.

 

Merger Communications:

Follow-Up Merger Letter to Iowa Prairie Customers

Welcome Guide – Important Information about the Transfer of Your Accounts & Disclosures

 

Frequently Asked Questions

Q.  What is happening with my current bank location and employees? 
A.  After the merger becomes official on December 6, the Iowa Prairie Bank locations in Brunsville, Merrill, and Hinton will remain open, and you’ll continue to be served by many of the same employees you’ve come to count on, plus a few new employees. 

Q.  When will my accounts be transferred over to Iowa State Bank? 
A.   A systems integration will be completed over the weekend of December 3-5, at which point your accounts will be transferred to Iowa State Bank. Starting on December 6, you will begin using Iowa State Bank checks, debit cards, and able to enroll in Iowa State Bank’s online banking system using the Iowa State Bank website. 

Checks: Complimentary checks have been ordered and are expected to arrive later in December. Please continue to use your current Iowa Prairie checks until your new checks arrive. They will process as normal.

Q.  What is the Iowa State Bank website address?
A.  Iowa State Bank’s website is www.iowastatebank.net. After Friday, December 3, all Iowa Prairie Bank website visits will be redirected to Iowa State Bank.

Q.  What is Iowa State Bank’s routing number?
A.  The routing number is 073922432

Q.  Do I have to change my accounts, sign new forms and so forth?
A.  Most account holders will not need to change their account number. The account type will be converted to an Iowa State Bank account type as outlined in the enclosed disclosures. With that said, we have found a small number of accounts that have a duplicate account number with an existing Iowa State Bank account. Those customers will receive a letter with further instructions.

Q.  What do I need to do about direct deposits that I currently have?
A.  Be sure to change any direct deposits you currently have set up through Iowa Prairie Bank to utilize the new transit number (and new account number if your number is changing) effective December 6, 2021. This will prevent any unnecessary delays in crediting funds to your account 

SOCIAL SECURITY: To change information for Social Security direct deposits, please visit www.ssa.gov. Request that these changes take place after your December 2021 deposit, but in time for your January 2022 deposit. 

Q.  What if I have deposits at both Iowa Prairie Bank and Iowa State Bank? 
A.  If you have deposits at Iowa Prairie Bank and Iowa State Bank you will still have two accounts. As a result of this transaction, your account(s) at Iowa Prairie Bank will automatically become accounts at Iowa State Bank. As you may be aware, FDIC insurance generally covers a depositor’s account in any bank up to $250,000. Therefore, if, as a result of the transaction, you will have funds on deposit at Iowa State Bank in excess of $250,000, you should pay particular attention to this paragraph. In accordance with Section 8(q) of the Federal Deposit Insurance Act, in a transaction such as this, where the deposits of one financial institution are transferred to another financial institution, separate insurance on the transferred deposits will continue for six months.

 
FAQS ABOUT ONLINE BANKING

Q.  Will I use the same User ID to access my accounts at Iowa State Bank?
A.  Yes. However, it will be in all lower case

Q.  Will I use the same password that I use at Iowa Prairie Bank to access my accounts online at Iowa State Bank?
A.   No. You will be given an initial password of isb + last 4 numbers of your ssn or tax id, (for example: isb1234). Upon first login on December 6, 2021 you will be asked to create a new unique password.

Q.  Will I have access to all my online banking history?
A.  No. You will need to download or record your online banking history from the old Iowa Prairie Bank system before 2:00pm on Friday, December 3, 2021.

Q.  How do I access Mobile Deposit? 
A.  You will have access to Mobile Deposit through the Iowa State Bank Mobile Banking app starting on December 6, 2021. Simply download the Iowa State Bank app from your phone’s app store and follow the instructions. You must be enrolled in Iowa State Bank's online banking service before you can set-up Mobile Banking. Visit our Mobile Banking page for more information and instructional videos.

Q.  What are the limits for Mobile Deposit? 
A.  The limits for Mobile Deposit are as follows:

  • $2500 Daily Check Limit, $5000 Daily Mobile Deposit Limit
  • Checks must be endorsed “FOR MOBILE DEPOSIT ONLY” and signed
 
FAQS FOR DEBIT CARDS AND SAFE DEPOSIT BOXES

Q.  When will I receive a new debit card? 
A.   You will receive a new Iowa State Bank debit card in early December. You may begin using your new Iowa State Bank debit card on/after December 6.                     

VERY IMPORTANT: If you have automatic, recurring debits set up on your account, be sure to provide the new card number and expiration date to every vendor that directly debits your account (merchants, auto bill payments, online wallets and/or merchant websites). 

Q.  What will happen to my safe deposit box at Iowa Prairie Bank?
A.  Your Safe Deposit box will remain in the same location and will be accessible with the same key.

 
MISCELLANEOUS FAQS

Q.  What happens to my Certificate of Deposit or IRA? 
A.  There will be no change to the rates or terms that you currently have. Please see “Truth in Savings” for early withdrawal penalty details and auto renewal.

Q.  I currently have a loan with Iowa Prairie Bank, how will it change? 
A.  All loans in force will continue as contracted, with no change in rates or terms.

Q.  My mortgage is with Iowa Prairie Bank now.  What action must I take?
A.  The only change you will need to make is to make your payment payable to Iowa State Bank. Your mortgage terms will not change and Iowa State Bank will continue to service your mortgage locally.

Q.  Will I be able to continue to use my loan coupons when I submit my loan payment?
A.  Yes. You will continue to send your loan payments to your branch the same way, just made payable to Iowa State Bank.

Q.  Where do I mail my loan payments made on or after December 6, 2021?
A.  You can make your payments by mail or in person at any of the Iowa State Bank locations.

Please view our Welcome Guide for more information.

Welcome Guide – Important Information about the Transfer of Your Accounts & Disclosures

 

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