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Midstates Bank

Special Announcement

Midstates Bank, NA Announces Merger with Farmers & Merchants State Bank.


On May 15, 2019 Midstates Bank and Farmers & Merchants State Bank announced the merger of Farmers & Merchants State Bank into Midstates Bank pending regulatory approval.  The transaction is expected to close on August 30, 2019.

Farmers & Merchants State Bank (FMSB) has proudly served the communities and surrounding areas of Neola and Minden.  For over 133 years, FMSB has actively promoted community involvement, with a proven record of financial strength and loyal customer service. FMSB provides full-relationship agricultural, commercial and consumer banking.

Farmers & Merchants State Bank was selected for merger due to close proximity to our other banks in Southwest IA. They have similar values of integrity, community service, financial strength, and commitment to their customers and employees as we do. With the addition of locations in Neola and Minden, IA our combined resources and staff will provide a better banking experience for our employees, customers and communities.

If you should have any questions, please contact Farmers & Merchants State Bank at 712.485.2245 or Midstates Bank at 888. 710.9070.

At Midstates Bank and Farmers & Merchants State Bank building strong and lasting relationships with our clients is of the utmost importance. You will see the same friendly staff you have worked with throughout the years. 

Let Us Help Answer Your Questions

Our goal is to make the transition as smooth as possible and keep you informed along the way. As with any change, there are questions to be answered. How does this affect me? When will my accounts change? 

We have included many of these answers in our Frequently Asked Questions. However, we understand that you might still have questions. We are here to help. Please do not hesitate to contact your local branch.

What is happening to my bank?
On May 15, 2019, Farmers and Merchants State Bank announced that we would be merged into Midstates Bank NA. Pending regulatory approval, the transaction is expected to close on August 30, 2019. At that time, we will officially merge under one FDIC Charter.
How does this merger affect my accounts?
There are no immediate changes. Farmers and Merchants State Bank clients can continue to conduct their banking as usual. You can continue to use your current checks, deposit slips, debit and ATM cards, and your direct deposits, pre-authorized/recurring transactions, and statements will continue without interruption. You can also continue to use your current online banking accounts and mobile app. You will be notified well in advance of any changes that may be required by the data processing conversion.
What can I expect in the coming months?
After the data processing conversion is complete later this fall, customers will be converted to Midstates Bank branded materials. You will be getting a new ATM/Debit card and replacement checks. Customers will also begin to access their online banking accounts through site and their mobile app. Again, you will be notified well in advance of any change that may be required by the data processing conversion.
How will I know when the conversion has officially taken place?
You will receive joint written correspondence from Farmers and Merchants State Bank and Midstates Bank with information and instructions regarding any actions you may need to take for your account in advance of the data processing conversion.
What changes can I expect at my banking location?
You should see the same friendly frontline and loan staff you have enlisted in the past to help with your ongoing needs and requests. We will continue to provide the same convenient hours of operation, and our phone numbers will also remain unchanged.
What if I have a loan with Farmers and Merchants State Bank?
Continue to make payments as per your loan agreement. All existing terms and conditions of your loan(s) and line(s) of credit will remain the same and will be assumed and honored by Midstates Bank. More importantly, the people you know and trust for your loan and deposit needs will not change as a result of this merger.
Should I expect someone to call or email me to verify my deposit account information?
No, neither Farmers and Merchants State Bank nor Midstates Bank will call or email you to ask for your personal, confidential information. However, if you call us, we may ask you for some of that information to simply verify your identity. Please let us know if someone calls or emails you, claiming to be from Farmers and Merchants State Bank or Midstates Bank and asks you for personal, confidential information.
Will my deposit accounts continue to be covered by FDIC insurance coverage?
When FDIC insured banks merge, deposits from the assumed bank (Farmers and Merchants State Bank, in this case) are separately insured from deposits at the assuming bank (Midstates Bank) for at least six months after the merger. This gives depositors from the merged bank the opportunity to restructure his or her accounts if necessary. Simply reach out to your banker to discuss FDIC insurance any time.
How do I find out more about Midstates Bank?
Midstates Bank was carefully selected for the merger, based on similar values of integrity, community service, and commitment to their customers and employees. Midstates has been serving Western Iowa since 1876, and currently offers 9 locations including Harlan, Missouri Valley, Avoca, Mondamin, Council Bluffs, Kingsley, Le Mars and Sergeant Bluff. Combined, the merged bank will have assets in excess of $575 million, with over 100 employees. To learn more, go to Midstates Bank About Us page.
What if I still have questions?
You will be receiving various mailings in the weeks leading up to the merger date of August 30, 2019. Please watch for this information. You can also call Farmers and Merchants State Bank 712-485-2245 or Midstates Bank 888-710-9070 with additional questions.
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