Denmark State Bank Merger

When will Denmark State Bank become Bank First?

The merger will occur over the weekend of August 13, 2022. All Denmark State Bank branches will close after normal business hours on Friday, August 12. The Denmark, Howard, Shawano, and Whitelaw branches will re-open as Bank First on Monday, August 15; and the Reedsville branch on Tuesday, August 16. The Bellevue and Lawrence branches will permanently close after normal business hours on Friday, August 12. Denmark State Bank branches will not be open on Saturday, August 13.

Can I go to a Bank First location for banking transactions?

For services related to Denmark State Bank accounts, you should continue to visit Denmark State Bank until the conversion is complete on Monday, August 15, 2022. After conversion, you can visit any Bank First location.

Will I be able to access my account(s) during the conversion to Bank First?

While we have worked diligently to ensure you have a smooth transition to Bank First, there will be a brief period from Friday, August 12 to Sunday, August 14 when you will be unable to fully utilize your accounts. During this timeframe, you will be able to view your existing Denmark State Bank accounts online; however, you will not be able to make transfers or complete other actions.

ATTENTION BUSINESS CUSTOMERS: There will be a brief period from Friday, August 12 when Denmark State Bank’s business mobile and online banking are disabled until Sunday, August 14 when Bank First’s business mobile and online banking services become available that you will not have access to your business account(s).

Will the Denmark State Bank ATMs be available during conversion weekend (August 13 and 14)?

Denmark State Bank ATMs at the Denmark, Howard, Shawano, and Whitelaw branches will be converted approximately two weeks prior to the merger; however, the ATMs may be interrupted intermittently while the conversion takes place. Denmark State Bank ATMs at the Bellevue and Lawrence branches will permanently close after regular business hours on Friday, August 12, 2022. Please refer to page 20 of the Personal Welcome Guide (page 24 of the Business Welcome Guide) for a complete listing of ATM locations following the conversion to Bank First.

Will the Denmark State Bank phone numbers change?

No, all branch phone numbers will remain the same.

Who should I contact if I have questions with my account(s)?

Please contact your local office or our Customer Care line at 920-652-3333 for questions regarding your account. You may also email us at info@bankfirst.com and a representative will respond during regular business hours.

Can I use my Denmark State Bank checks after the merger?

Yes, you may continue using your Denmark State Bank checks after the conversion of your account. Once you run out of checks, you may order new ones under the Bank First name via our website or contact your local office. Be sure to update your routing number to 075901134 at that time!

What is the routing number for Bank First?

The routing number for Bank First is 075901134. The routing number for Denmark State Bank will continue to work for at least six months after the merger; however, we encourage you to transition your checks and ACH payments over to the new routing number in the near future.

What will happen with my Denmark State Bank credit card(s)?

There will be no changes to your Denmark State Bank credit card. Denmark State Bank credit cards have and will continue to be serviced by Elan Financial Services; however, payments will no longer be accepted at the branch following the conversion to Bank First.

Will my branch hours stay the same?

We are excited to expand lobby hours and alter drive-thru hours to be in line with other Bank First locations! Please refer to page 20 of the Personal Welcome Guide (page 24 of the Business Welcome Guide) for a complete listing of locations and hours effective Monday, August 15, 2022.

How do I log into my online banking?

PERSONAL ONLINE BANKING: Please see instructions on pages 14 and 15 of the Personal Welcome Guide.

BUSINESS ONLINE BANKING: Please see instructions on pages 16 and 17 of the Business Welcome Guide.

What will happen to my Bill Pay account?

PERSONAL BILL PAY: Denmark State Bank’s Bill Pay will remain active until 5:00 P.M. on Friday, August 12. At that time, Bill Pay will be disabled until Bank First’s Bill Pay system becomes available on Monday, August 15. Bill Pay data converted from Denmark State Bank to Bank First will include customer profile information, bank account(s), payees, future dated payments, recurring payments, history, and account-to-account transfer payments. However, person-to-person (Popmoney) information will not convert

BUSINESS BILL PAY: Denmark State Bank’s Business Bill Pay will remain active until 5:00 P.M. on Friday, August 12. At that time, Business Bill Pay will be disabled until Bank First’s Business Bill Pay system becomes available on Tuesday, August 16. All payee information you currently have set up with Denmark State Bank will convert to Bank First; however, future dated payments, recurring payments, history, and account-to-account transfer payments will not. Any history needed from Denmark State Bank’s Business Bill Pay should be printed prior to conversion. All recurring payments must be re-established within the platform. Please refer to page 18 of the Business Welcome Guide for step-by-step instructions on how to set up recurring payments within Bank First’s Business Bill Pay.

Will I continue receiving E-Statements if I am currently enrolled with them at Denmark State Bank?

Yes, if you are currently enrolled in E-Statements you will continue to receive E-Statements through online banking. There is no need to re-enroll. However, you will receive a final statement from Denmark State Bank on paper dated Friday, August 12, 2022.

What will happen to Telebanc (telephone banking)?

Denmark State Bank’s Telebanc will remain active until 5:00 P.M. on Friday, August 12. Telebanc will become available on Sunday, August 14 under the Bank First name and number: 1-800-676-7535.

 

Will there be changes to my deposit account(s)?

The current names, features, and benefits of your Denmark State Bank deposit accounts will be converted to similar Bank First deposit accounts.

PERSONAL DEPOSIT ACCOUNTS: Please refer to the “Important Account Changes” section on page 5 of the Personal Welcome Guide for more information, as well as the accompanying disclosures for specific information.

BUSINESS DEPOSIT ACCOUNTS: Please refer to the “Important Account Changes” section on page 5 of the Business Welcome Guide for more information, as well as the accompanying disclosures for specific information.

Will automatic transfers, automatic loan payments, and direct deposits continue to work?

Direct deposits will continue to be deposited directly into your account(s). Automatic payments that are set up using a routing number and checking or savings account number (ACH) will continue to work. However, if payments are set up via your debit card, those will need to be updated with your new debit card information prior to Monday, August 15. To assist you with these changes, we encourage you to use our convenient Switch Kit!

Will my account number(s) change?

In almost all cases, account numbers will remain the same. There are a small number of duplicate account numbers between the two banks. We have worked with these customers prior to the merger to change those account numbers.

Will the service charges associated with my account(s) change?

Depending on your account, your service charges may change.

PERSONAL ACCOUNT(S): Please review the Bank First checking and savings account products on pages 6 - 8 of the Personal Welcome Guide, as well as the accompanying disclosures for specific information.

BUSINESS ACCOUNT(S): Please review the Bank First checking and savings account products on pages 6 - 7 of the Business Welcome Guide, as well as the accompanying disclosures for specific information.

Will the statement date for my account(s) change?

Yes, the statement date for your accounts will change. You will receive your last Denmark State Bank statement as of Friday, August 12. Personal statements for Bank First checking accounts will be processed on the 15th of each month, starting Thursday, September 15. Personal statements for Bank First savings account will be processed quarterly, starting Sunday, September 25. Business statements for Bank First accounts will be processed on the last day of each month, starting Wednesday, August 31, 2022.

Will the interest rates and terms on my CD(s) remain the same?

Yes, the interest rates and terms you currently receive from Denmark State Bank will remain in effect until maturity. If your CD is set to automatically renew, it will continue to do so, and you will receive a notice including new account documentation and disclosures. If your current term is not offered at Bank First, your CD will renew into the next lowest term available. Upon renewal, interest is compounded and credited to your account semi-annually.

If your current term is 180 days or less, your CD will not automatically renew. You will receive a notice of non-renewal approximately 30 days in advance of the maturity date. At that time, you will be contacted to discuss your renewal options. New account documentation and disclosures will be provided thereafter.

Will the interest rates and terms on my IRA(s) remain the same?

Yes, the interest rates and terms you currently receive from Denmark State Bank will remain in effect until maturity; however, your IRA will not automatically renew. You will receive a notice of non-renewal approximately 30 days in advance of the maturity date. At that time, you will be contacted to discuss your renewal options. New account documentation and disclosures will be provided thereafter.

What happens if I have a Health Savings Account?

Your existing Health Savings Account will be transferred to Bank First. You may continue to use your existing HSA checks. A Bank First HSA debit card will be sent to you prior to Monday, August 15.

Will the merger affect my existing Denmark State Bank loan(s)?

No changes will be made to the payments, interest rates, or other terms of your existing loan until maturity with the exception of Demand Deposit Loans (DDLs), formally known as Checking Lines of Credit at Denmark State Bank. The APR on your DDL at Bank First will be 18%. DDLs transfer the exact dollar amount of your overdraft to your checking account. Deposits to your checking account will automatically pay back the principal of your DDL plus interest. If no deposit is made, a payment of 5% of the outstanding balance plus interest will be due on the date of your checking account statement. There will be a grace period of six days.

Will my loan number(s) change?

In almost all cases, loan numbers will remain the same. There are a small number of duplicate loan numbers between the two banks. We have worked with these customers prior to the merger to change those loan numbers.

Will my loan statement change?

Yes, mortgage, business, and consumer loan customers will begin receiving a monthly loan billing statement from Bank First. Electronic loan notices are also available within online banking.

Will I be able to continue using my loan coupons when I submit my loan payment?

Yes, you can continue to use your existing loan coupons. However, loan coupons are not necessary when making your loan payment, therefore you will not receive additional loan coupons.

Where do I mail my loan payments made on or after Friday, August 12, 2022?

Payments can be made at or mailed to any branch location. We recommend setting up automatic payments or making payments via online banking for your convenience.

Can I still view my loan(s) and make a loan payment online?

Yes, you will be able to view your loans and make loan payments online.

My loan payment is automatically deducted from my deposit account. Will that service continue?

Yes, automatic payments will continue as usual, on the same schedule.

Who will be servicing my loan(s)?

Bank First services a vast majority of our loans locally. You can expect to receive exceptional customer service and personal attention from the same friendly faces you’ve come to know at Denmark State Bank.

What will happen with my property tax escrow?

You will receive your property tax escrow check around December 20, 2022, and will be responsible for bringing the check to your local municipality for payment. If your local municipality accepts electronic ACH payments, you will receive enrollment information later in the year.

What is happening to my loan application?

In most cases, applications taken prior to Friday, August 12, 2022, will continue to be processed by Denmark State Bank. Any applications taken on or after Friday, August 12, 2022, will be processed by Bank First.