Granite Shoals Branch FAQ Continued

Frequently Asked Questions


A.

You can use our external transfer feature in CNB Online or Mobile banking to transfer money to accounts you may have at other financial institutions. Our CNB E-Z Online Bill Pay allows you to transfer funds to individuals.  Later this year, you will be able to send and receive money electronically using Zelle®.


A:

After the acquisition is complete, you will have access to CNB’s Discretionary Overdraft Courtesy service. Discretionary Overdraft Courtesy allows CNB to strive to pay overdrafts for checks, other debit transactions made using your checking account number (e.g., ACH debit transactions), and automatic bill payments from your checking account. CNB will not pay overdrafts for ATM or everyday debit card transactions for consumer customers unless you Opt-In for payment of these overdrafts. For our business customers, Discretionary Overdraft Privilege automatically includes all transaction types.


A.

After the acquisition is complete, contact any branch location or send us a secure message in online/mobile banking with your decision.

A:

CNB is a strong, secure, and well-capitalized bank. All deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. Deposits you hold in different ownership categories—such as joint, single, and retirement accounts—are each separately insured up to $250,000. That means, for example, that you could have up to $250,000 in single-name accounts and up to $250,000 in your share of joint accounts and still be fully insured.

Deposits at CNB are also insured up to the FDIC insurable limit. If you have accounts at both CNB and Anthem Bank & Trust, under federal law you will continue to receive the same FDIC coverage as if your accounts were still at separate banks for six months after the acquisition. After six months have passed, if your total aggregate account balances exceed $250,000, any excess may not be covered by FDIC insurance. Certificates of Deposit will continue to receive separate FDIC insurance coverage until the first maturity date after the six-month period.


A:

The interest rate and term of your existing CD will remain the same through its maturity. At least 10 days prior to maturity, you will receive a CD pre-renewal notice. At maturity, or during the grace period of 10 calendar days following and including the maturity date, you may change the term, interest payment frequency, and principal amount of your CD. During the grace period, you may also choose not to renew your CD.  If you do not make any changes, your CD will automatically renew for the term indicated on your CD pre-renewal notice.
A:

No. There will be no changes to the terms of your existing IRA. Upon the acquisition, CNB will become the custodian of your IRA.
A:

We anticipate you can begin using any Commercial National Bank branch location on Monday, July 11th.