On May 27, Patriot Bank announced plans to join Green Bank. The merger is complete, and you already have access to more banking offices. In early 2016, you will be able to take advantage of one of the largest ATM networks.
For now, it is business as usual and we will continue to deliver the same high quality service you've come to expect from us. We are making every consideration to ensure the conversion is easy on our customers.
Green Bank's success is based in its commitment to customers, communities and employees. We are a preferred provider for business and personal banking products and services in the markets it serves. We value what Patriot Bank has built and recognize their expertise and ability. We operate in the same markets and have similar customers--we feel that our stakeholders will benefit from a growing organization and continue Patriot Bank's tradition of outstanding service.
We also appreciate your business and support and will work hard to keep you informed of changes in a timely manner.
Special FDIC insurance rule protects customers with deposits over the $250,000 limit for at least six months after a merger.
The FDIC has a special rule that says when two banks merge, a customer's deposits will be considered to be separately insured — as if the two banks are still operating separately — for at least six months.
With a CD, the FDIC allows the separate deposit insurance coverage to continue until the CD matures, so that the depositor doesn't have to take a penalty for an early withdrawal.
It's only when the CD matures — perhaps years into the future — that the depositor may need to consider moving the excess above $250,000 to another FDIC-insured bank to continue to be fully insured.
Our checking accounts are designed to help you avoid ATM fees. Our branch ATMs are always no-cost. We’ve joined the MoneyPass Network, one of the largest networks of ATMs across the country, offering tens of thousands of ATMs surcharge free. And, thousands of these machines accept deposits.