Frequently Asked Questions
How will this affect Citizens Business Bank branch staff?
Citizens Business Bank customers will still receive high quality customer service, and will see many of the same friendly faces transferred to Bank of the Sierra’s Porterville Main Street location.
Where can customers get more information?
Bank of the Sierra is here to help. Our goal is to answer any and all questions and concerns to make this transition as smooth and trouble-free for Citizens Business Bank customers as possible. For further information, customers can call the toll free Customer Service Center, 888-454-BANK during regular business hours. Bank of the Sierra’s website also contains detailed information about its products and services, and branch locations and hours.
When will the acquisition be finalized?
The acquisition is scheduled to be finalized in the early part of 2016.
How will this affect customers’ debit cards and checks?
Citizens Business Bank customers will receive new account numbers with Bank of the Sierra. New checks and debit cards will be ordered and should arrive at the time of the transition. Any recurring payments associated with the current debit card or account will need to be updated with the Bank of the Sierra routing number and new account or card number.
Will Citizens Business Bank customers have a different routing number?
Yes. After the transition, the new routing number will be 121137027.
How will this affect online banking/mobile banking/bill pay/automatic payments?
The online banking platforms of both banks are very similar, so it should be an easy transition to using Bank of the Sierra’s systems. Any questions regarding functionalities of our system(s) can be directed to customer service at 1-888-454-BANK (2265).
How will this affect the fees customers currently pay?
Bank of the Sierra offers accounts very similar to the accounts offered by Citizens Business Bank, and Bank of the Sierra will make every attempt to match their current account with the account types we offer. Specific account information, including fee schedules and other documentation will be sent out as we get closer to the date of conversion.
How will this affect customers’ direct deposit?
Direct deposits will be delayed by one business day until the Originator is able to affect the change to Bank of the Sierra’s routing number.
How will this affect where customers mail their loan payment?
Customers should continue to make their loan payments as usual, until further notice.
What happens to my FDIC insurance coverage if I have deposits at two insured banks that merge?
When one bank is acquired by another, deposits from the assumed location (Citizens Business Bank) are separately insured from deposits at the assuming bank (Bank of the Sierra) for at least six months after the acquisition. This grace period gives a depositor the opportunity to restructure his or her accounts, if necessary.
CDs from the assumed bank 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 on any other basis, it would be separately insured only until the end of the six-month grace period.
Will there be any other effects on customers’ loans?
The acquisition will not have any impact on their existing loan rates, terms or conditions.
How will this affect customers’ bank accounts?
Bank of the Sierra offers a variety of competitive accounts very similar to the accounts offered by Citizens Business Bank. At the time of the transition, we will align customer accounts to the Bank of the Sierra account which most closely resembles the features and rates of their previous Citizens Business Bank account. We’ll do our part to ensure that we minimize any interruption of services to customer accounts.
Will all deposits continue to have FDIC insurance through the transition?
Yes. All accounts will continue to be insured by the FDIC.
Where are Bank of the Sierra’s branches located?
Bank of the Sierra maintains 28 full-service branches, an online branch, a loan production office, a real estate industries center, an agricultural center, and an SBA center, most of which are located in the Central California region. View a full list of locations at https://www.bankofthesierra.com/branches-atms/.
Who is Bank of the Sierra?
Bank of the Sierra is a community bank headquartered in Porterville, CA, We’re a safe and strong bank, dedicated to the people and businesses we serve. The bank’s promise is this: “We help make every community we’re part of better.” This dedication and commitment to service are embodied daily by the employees throughout our organization.
Bank of the Sierra offers a full range of retail and commercial services at 28 branch locations located throughout Central and Southern California. We specialize in agricultural lending, and have a full suite of financial services products, including Mobile and Online Banking and Mobile Check Deposit.
Bank of the Sierra gives back to its communities in a variety of ways throughout the year, including a grant program designed to help local non-profit organizations with special programs and projects.
Who is being acquired and what does this mean?
Bank of the Sierra will acquire the Citizens Business Bank branch in Porterville, California. This means all current customers of that Citizens Business Bank location will convert to Bank of the Sierra customers and gain access to all Bank of the Sierra locations, ATMs, products and services.
Why is the acquisition taking place?
In late 2015, Citizens Business Bank and Bank of the Sierra entered negotiations to finalize the acquisition of the downtown Porterville branch of Citizens Business Bank. Both banks agree that the decision reflects the best interests of the customers, who will continue to receive the highest level of financial service.