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Frequently Asked Questions

 

FREQUENTLY ASKED QUESTIONS 

General

When will the merger occur?

The merger of the two banks will occur on Saturday May 1st. Bank employees will work over the weekend to make final system transitions and we will open on Monday May 3rd as Falcon National Bank. In the weeks ahead you will receive a comprehensive WELCOME PACKET that will give details on every step of the process. Please watch for it in the mail and review it closely so you have all the information needed for a smooth transition. 


Will the Maple Grove branch remain open?

Yes, Falcon National Bank is excited to add the Maple Grove location as our 6th branch!


Why is Eagle Community Bank merging with Falcon National Bank?

This merger provides incredible benefits to our valued customers. More convenient locations, expanded products and services and greater efficiencies across all branches. That means more time, money and resources devoted to bringing you a truly exceptional banking experience.


Will Falcon National Bank be the right bank for me?

Falcon National Bank is a strong, well-managed, growing community bank. We offer a full range of competitive business and personal banking solutions including in person and online options for customers. We pride ourselves on building long lasting relationships with our customers with the highest level of integrity. We provide trusted solutions and exceptional service. We pride ourselves on fast reliable execution. We are excited to bring the Eagle Community Bank customers onboard.


Who should I contact with questions?

Falcon National Bank has dedicated phone bankers available to help you with any questions that arise through the process. Feel free to reach us at 866-439-4363.


Accounts

Will there be changes to my accounts?

Yes, there will be a transition of Eagle Community Bank products to similar Falcon National Bank products. We have developed a product map and a comparison chart to help you understand the differences. The great news is, that in many cases you will find that Falcon National Bank rates and terms are even better than what you experienced.


Will my account number change?

No, your account number will stay the same.


Will my accounts remain insured?

There will be no change to the FDIC insurance coverage that was in place with Eagle Community Bank.


Will my overdraft protection remain in place?

Yes, Falcon National Bank will be working hard to ensure no interruption in overdraft protection. As always, our customers are reminded to watch your monthly statements to review all account activity.


Checks

Can I still write the checks I have from Eagle Community Bank?

Yes, checks with the Eagle Community Bank account and routing information will continue to clear without issue. We ask that upon your next order, you update to the Falcon National Bank information.


Debit/ATM Card

Will I get a new debit card?

Yes, Your Eagle Community Bank debit card will be replaced by a new Falcon National Bank Mastercard debit. Details on debit cards will be included in the Welcome Packet. Please review all the correspondence closely.


Can I choose my PIN?

The Falcon National Bank card allows you to select your PIN as part of card activation. Details on debit cards will be included in the Welcome Packet. Please review all the correspondence closely.


Will I have access to free ATMs?

Like Eagle Community Bank, Falcon National Bank is a member of the MoneyPass® ATM network. You will continue to have free access at ATM’s that have the MoneyPass® logo.


Do I need to change my auto-debit payments that I currently have set on my Eagle Community Bank card?

Yes, any reoccurring debit card transactions will need to be updated with the new card information beginning May 3rd.


Direct Deposit/Payments

Do I need to change my direct deposits/payments?

Yes, although we expect no issues with any pending direct deposits or withdrawals at and around the time of the merger, we do ask that you contact companies or financial institutions that you have auto-payments with to provide updated routing and account information (this information will be provided to you in the Welcome Packet). As general guidance we ask that you complete this by the end of May.


Certificates of Deposit (CDs)

What will happen to my Eagle Community Bank Certificates of Deposit?

All CD’s will be merged into Falcon National Bank under the original terms of the deposit contract. Dividend payment dates, rates and maturities will remain under the terms of your existing contract.


What about interest earned on my deposits?

Eagle Community Bank will make a final interest payment to all interest earning deposits at close of business April 30th. Falcon National Bank will begin accruing interest on your deposits beginning May 1st. You may see a “split” interest payment for the month of April/May on your CD accounts.

Loans

Will my loan coupons still work?

Yes, Beginning May 3rd please make checks payable to Falcon National Bank.


I have automatic transfers (or loan payments) on my Eagle Community Bank accounts. Will they remain in place?

Yes, Falcon National Bank will be working hard to ensure no interruption in account to account transfers that you had in place with ECB. As always, our customers are reminded to watch your monthly statements to review all account activity.


What will happen to my Eagle Community Bank loans?

All loans will be merged into Falcon National Bank under the original terms of the loan contract. 


Online/Mobile Banking

Will I need to re-enroll in internet/mobile banking and bill payment?

Yes, you will need to re-enroll in these services. Details on our digital banking services will be included in the Welcome Packet


Miscellaneous

Will wire transfer transfer Instructions change?

Yes, all incoming wires beginning May 3rd should be routed using Falcon National Bank’s wire instructions.


When, and how will I receive my 2021 tax documents?

Falcon National Bank will send combined 1099's, and 1098’s for 2021. You will not receive any tax statements from Eagle Community Bank.