Consolidation Frequently Asked Questions

What Does It Mean That My Bank Is Consolidating?

Over the past several years, our bank organization has grown to include three banks.

First State Bank – Hawarden, IA

Miner County Bank – Howard, Canova, SD

Farmers State Bank – Marion, Parker, Bridgewater, SD

After several years of operating the banks as separate entities, we now believe it will be more efficient and better for you, our customers, to operate the three banks as one.  Later this fall, we will be putting all three banks together and changing the name to Rivers Edge Bank.

Rivers Edge Bank offices:

Hawarden, IA

Marion, SD

Parker, SD

Bridgewater, SD

Howard, SD

Canova, SD


The target date for this consolidation is September 25, 2017.


Why Are The Banks Consolidating?

The consolidation will eliminate much duplication and redundancy. Our hope is that it will make a significant impact on how we do business. We want to move to being a bank that is advancing in customer growth and engagement. Upon consolidation, we will have time and resources to focus on more efficient use of technologies and better products and services for our customers.


Will My Account Number Change?

No, existing checking account numbers will remain the same. In isolated instances, a few savings account numbers may need to change. If you are not contacted directly by the bank, you can assume your savings account number will not change.


Will The Bank's Routing Number Change?

Yes and No. Yes, the routing number for First State Bank and Miner County Bank will change. No, the routing number for Farmers State Bank will not change. However, the change of routing numbers and its impact on any of your automatic transactions through the ACH system will be taken care of by the bank. The bank will send Notifications of Change through the ACH network to notify companies that either deposit or withdraw from your accounts electronically. The new bank routing number will be 091402947.


Do I Have To Order New Checks?

No, your current checks will be usable for a period of time after the consolidation. As we get closer to the consolidation date, we will be sharing the specifics in written communications with you.

The bank will also be providing all customers using personal style checks with replacement checks with the Rivers Edge Bank name, logo and routing number. Bank customers using larger business style checks will receive an account credit to assist in ordering new checks from outside providers. There will be a period of time that you will be able to use your current checks and/or your new checks. We will communicate with you with more specific information prior to the issue of the new checks or account credit. Please watch your mail for this direct correspondence.


Do I Have To Order A New Debit Card?

No, you will not have to place an order for a new debit card. Your existing debit card will work until we transition to the new Rivers Edge Bank custom debit card. The transition to your new Rivers Edge card is scheduled for Tuesday, January 16, 2018. It will take a little longer to issue the new cards as they will include these additional features.

The new Rivers Edge Bank card will be a chip card with additional security features for your protection.

The new Rivers Edge Bank card will function in real time which means your transactions will be posted the instant they are completed.

New cards will be offered to you free of charge.            


What Can I Expect With The Debit Card Transition?

The target date for the debit card transition is Tuesday, January 16, 2018. A couple of weeks prior to that date, you will receive your new Rivers Edge Bank debit card in the mail. You will need to activate this new card following the instructions included with your new card. Then on Tuesday, January 16, 2018, your new card will begin working and your existing card will cease to work.


If I Have Automatic Withdrawals Taken From My Checking Account Through My Debit Card, Will I Need To Make Changes To Have That Continue?

Yes, any vendors or third parties that are utilizing your current debit card information to generate the automatic withdrawals will need to be contacted with your new debit card information. Unfortunately, the bank is not able to make that contact for you. Transactions after the targeted consolidation date of 9/25/2017 but before the debit card transition date of 1/16/2018 will be processed without interruption. Transactions after the 1/16/2018 debit card transition date will be processed without interruption for a period of time not to exceed 6 months. We ask that you contact your vendors as soon as you can after 1/16/2018.


Do I Have To Change My Passwords To Internet Banking?

No. The internet banking systems for First State Bank, Miner County Bank and Farmers State Bank will be merged together into the Rivers Edge Bank internet banking system. While the screen layout may look a little bit different, all of your log in credentials should remain the same and be functional. If for any reason, you have a problem accessing your internet banking information, please contact the bank at any of the six offices.


Will My Checking/Savings Account Terms Change?

The existing deposit accounts for Farmers State Bank, First State Bank & Miner County Bank will all be consolidated into a uniform account offering upon consolidation. The goal of this account offering will be to provide simple deposit product options with a very limited fee structure. All existing accounts will be transitioned into the closest available product upon consolidation. It is our goal that all account terms will be more favorable to you after the transition. Please watch your mail for more account transition details that will be coming soon.


Will My Loan Account Change?

No, all existing loans will remain the same as they are currently.


What Is The Timeframe Of The Consolidation?

The target date of bank consolidation is September 25th. You will receive direct correspondence by mail concerning many of these issues prior to the consolidation date. Please do not hesitate to contact the bank directly, if you have any specific questions.


We hope that this FAQ will have helped to answer your questions. 
If you have additional questions or would like to speak with someone about the changes please do not hesitate to call us at the bank.