Welcome MONROE BANK & TRUST - CEO LETTER

Welcome Monroe Bank & Trust customers

A message from CEO Mike Rechin

We are excited to announce that legal approvals to merge Monroe Bank & Trust into First Merchants Bank are complete. Welcome to the First Merchants Bank family!

Monroe Bank & Trust and First Merchants share an alignment of similar cultures, values and community commitment.  As a valued customer, you will continue to benefit from access to experienced local bankers, supported by the strength of First Merchants’ products and delivery capabilities.  Personal service, long-term relationships and community involvement will continue to be the foundations of how we serve you. 

Our teams are focused on providing you with a great experience as we transition Monroe Bank & Trust into First Merchants Bank later this year.  As details about the transition become available, you will receive information and communications via postal mail, website updates and email.  We encourage you to visit the First Merchants website frequently for the most up-to-date information.

Since 1893, First Merchants has been focused on supporting the dreams and growth of families, businesses and communities.  We look forward to serving you, and welcome you to First Merchants!

Sincerely,

Mike-informal-emailsig

Michael C. Rechin

President and CEO, First Merchants Corporation

 

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FAQs

Will my account number change?
  • No. Be assured that unless you are contacted directly, your account number will remain the same and you will continue to access your account as you do today.

Do I need to assign new agreements for my Treasury Management Services?
  • Yes, these agreements will be sent electronically early November, if you do not receive please check your spam folder or call your Treasury Management Sales Officer.

How can I get the most current information about changes that may impact me?
  • We recommend that you visit the Monroe Bank & Trust or First Merchants Bank website for the most up-to date information.  Additionally, you will receive communications via postal mail and email.  And as always, feel free to talk with any banker at Monroe Bank & Trust.

When can I begin to use First Merchants Bank locations, products and services?
  • We will be communicating exact dates in the coming weeks, however, you can look forward to having access to over 100 First Merchants banking centers, along with expanded product and service offerings in mid-November this year.

    And now, you may use any First Merchants Bank ATM fee free!  For a complete listing of First Merchants ATMs, go to www.firstmerchants.com/locations and choose the ATM search drop down.

Should I continue to use my Monroe Bank & Trust checks, online banking, telephone banking, bill payment and Debit/ATM cards?
  • Yes!  Prior to changes in mid-November, your Monroe Bank & Trust checks, online banking, bill payment and Debit/ATM cards will continue to work as usual.  We will be communicating changes to you well in advance.  Be on the lookout for communications from us via email and postal mail.  

If I have deposit accounts at Monroe Bank & Trust and First Merchants Bank with combined totals more than the FDIC insurance limit of $250,000, what is the FDIC insurance impact?
  • If you have deposits at both banks, separate FDIC insurance coverage will apply for six months after the legal merger date to provide you with time to restructure your accounts if necessary.  Please be advised that First Merchants Bank also operates under the trade name First Merchants Private Wealth Advisors.  If you have questions about your deposit insurance, please feel free to visit any Monroe Bank & Trust location or call the FDIC directly at 1-877-ASK-FDIC.

Should I continue to make loan payments to Monroe Bank & Trust?
  • Yes.  Please continue to make your same payments to Monroe Bank & Trust as you do today.

Do I need to update direct deposits and automatic payments to avoid disruption?
  • No. You do not need to make any changes to your direct deposits or automatic payments as they will continue without disruption.

Will my account numbers change?
  • No.  Be assured that unless you are contacted directly, your account number will remain the same and you will continue to access your account as you do today.

Will The Monroe Bank & Trust signs change?
  • Yes. The signs will change to First Merchants Bank in mid-November this year.