Your account number(s) will remain the same unless you are otherwise notified. The interest rate and terms of your existing account will remain the same until the maturity date.
Prior to the maturity date, you’ll receive a renewal notice for your CD, along with a disclosure containing important account terms and conditions. You’ll have the opportunity to change your term at that time if you prefer.
CDs that mature during the 6-month grace period immediately following the merger and are renewed for the same dollar amount (with or without accrued interest added to the principal amount) and for the same term as the original deposit will be separately insured until the first maturity date after the expiration of the 6-month grace period. CDs that mature during the 6-month grace period and are renewed on any other basis or are not renewed and become savings or checking deposits will be separately insured only until the end of the 6-month grace period. CDs that mature after the end of the 6-month grace period will be separately insured until the earliest maturity date of the CD.
After the merger, Community Bank, N.A. will become the successor custodian of your IRA unless you make other arrangements prior to the merger. Your IRA will convert to the Community Bank, N.A. IRA that is most similar to your current account, and your account number will remain the same unless otherwise notified.
Please note: If you have a Kinderhook Bank savings IRA, it will be converted to a Community Bank certificate of deposit (CD) IRA. Unlike the terms of a traditional CD, periodic deposits will be allowed.
Questions? Please call, stop by your local branch or visit cbna.com.