The Bank of Fincastle Merger
On July 1, 2021, the Bank of Fincastle merged with First Bank. Our team has been working diligently to transition our banking systems. After close of business on Friday, October 15th and continuing through the weekend, our team transitions these systems. We know your bank accounts are incredibly important to you and are committed to ensuring our transition is smooth and easy. Below are a few frequently asked questions to help you prepare for the upcoming changes.
Frequently Asked Question
Q: How will this merger benefit me?
A: By combining our two great companies, we will be able to offer an expanded branch network and additional products and services to our customers.
Q. Will The Bank of Fincastle name change?
A. The Bank of Fincastle name will change to First Bank on October 18th.
Q: Will our current locations and hours change?
A: There are no plans to close any locations or modify operating hours.
Q: Will the staff remain the same?
A: Yes, you will continue to bank with the same familiar bankers who provide the excellent customer service to which you have become accustomed.
Q: Will any of my account numbers change?
A: Account numbers will remain the same.
Q: Will the routing number change?
A: You can continue to use The Bank of Fincastle routing number.
Q: Will i need a new debit card?
A: You can continue to use your debit card until October 18, 2021. You will receive detailed instructions with a new First Bank debit card and PIN in the mail prior to this date.
Q: How can I access my account during transition weekend?
A: Between 5pm on Friday, October 15th and 9am on Monday, October 18th, some services will be periodically interrupted or not available. Please consider carrying extra cash or additional forms of payment as a backup.
Q: Will online and mobile banking be available during transition weekend?
A: Online and mobile banking will be accessible for balance inquiries only.
Q: How will I log into online banking after the transition? Will my login information change?
A: On Monday, October 18th, online services will be available via fbvirginia.com. There may be a need to change your user ID or password for online and mobile banking. The first time you access the systems you will have to go through an authentication process, which will include creating a new password and setting new security answers. More information regarding online services will be sent to you well in advance of transition weekend.
Q: Will I need to set up my bill pay information?
A: No, existing payees will transfer over to the new system. However, the Bill Pay System will not be available beginning on Friday, October 8th. This is necessary to process any scheduled payment you may have entered into the system between October 8-18.
Q: Will I still have access to the existing mobile banking app?
A: You will need to download First Bank's mobile banking app, which you can find at fbvirginia.com. You will have access via the First Bank mobile application starting at 9am on Monday, October 18th. The Bank of Fincastle mobile banking app will not be available after October 18th.
Q: Will I be able to use mobile deposit?
A: Yes, starting Monday, October 18th you will be able to use First Bank's mobile deposit feature. Simply download the First Bank mobile banking app and log in using your internet banking credentials.
Q: Will the bank's ATMs be available during transition weekend?
A: Our branch office ATMs will not be available over transition weekend, but will be available beginning at 9am on Monday, October 18th.
Q: Will I need to order new checks?
A: No, continue to use your current supply of checks. We will replace them with First Bank checks with your next order.
Q: Will I receive a new debit card?
A: You will receive a new First Bank debit card and PIN in the mail. You can activate the new card on Monday, October 18th. You will receive detailed instructions with your new debit card.
Q: Will the recurring transactions set up with my old debit card still work?
A: No, any automatic payments made with your current debit card will need to be set up with your new First Bank debit card (i.e., monthly, yearly payments automatically paid for services).
Q: Do I need to change my direct deposit and automatic payments?
A: No, because the bank routing number and all account numbers will remain the same, you will not have to change direct deposits or automatic transfers.
Q: Where should I send my loan payments?
A: Loan payments can continue to be made online, at any of our branch offices, or through the mail.
Q: Will my loan payment and/or due date change?
A: The terms of your loan, including payment amount and due date, will not change.
Q: When can I begin using the First Bank branch offices?
A: Once we merge our banking systems, we will be able to provide you with service at all First Bank branches. We anticipate completion on October 18, 2021.
Q: How will the merger affect my FDIC insurance coverage?
A: If you have accounts at both The Bank of Fincastle and First Bank, deposits at The Bank of Fincastle will be separately insured from deposits at First Bank for at least six months after the merger. Certificates of Deposit (CDs) from The Bank of Fincastle are separately insured until the earliest maturity date after the end of the six-month grace period. CDs that mature during the six-month period and are renewed for the same term and in the same dollar amount (either with or without accrued interest) continue to be separately insured until the first maturity date after the six-month period. If a CD matures during the six-month grace period and is renewed for any other term, it would be separately insured only until the end of the six-month grace period. If you have any questions about FDIC insurance coverage, any member of our branch team will be happy to assist you.
Bank of Fincastle - 540.473.2761
First Bank - 888.647.1265.