The First National Bank of Wynne receives regulatory approval to acquire Bank of McCrory
(AR—SEPTEMBER 14, 2017) First National Corporation of Wynne, parent company of The First National Bank of Wynne (“FNB”), announced today that regulatory approval has been granted for First National Corporation of Wynne to acquire 100% of the stock of Bank of McCrory. Pending shareholder approval the transaction will close on October 31, 2017 and Bank of McCrory will be merged into The First National Bank of Wynne. Bank of McCrory will operate as a DBA under its current name until sometime in the first quarter of 2018 when the bank systems can be converted to the FNB bank systems. At that same time the bank will be rebranded to First National Bank of Wynne.
Until the conversion and rebranding of the bank, customers of Bank of McCrory should continue to conduct business as usual, and continue to use their same Bank of McCrory checks, debit cards, and online banking services until they are notified. If customers have questions they should contact the Bank of McCrory.
In addition, Sean Williams, President and CEO of First National Corporation of Wynne and The First National Bank of Wynne announced that Tim St. Clair will be named Community President of McCrory at closing. “Tim is a familiar face in McCrory having worked at the bank for several years before coming to FNB. He knows the community and the bank’s customers, and will be a tremendous asset to us in this position.”
First National Bank of Wynne, established in 1915, has six locations serving Wynne, Harrisburg, Cherry Valley and Forrest City. As of June 30, 2017 FNB has $279.2 million in assets. When the transaction closes the combined assets with Bank of McCrory will total $358.2 million.
Frequently Asked Questions
Q: When will the transaction be final?
A: First National Corporation has received regulatory approval to acquire Bank of McCrory. The closing date is set for October 31, 2017.
Q: Can customers start banking at both banks?
A: We ask that customers continue to bank where they always have until sometime after the first of the year. Customers will be notified in advance before any changes take place.
Q: Is anything going to change for customers?
A: Not immediately. It’s business as usual for all customers at both banks. Bank of McCrory customers will be notified when any change will take place. First National Bank customers will be notified when they may begin using Bank of McCrory as an additional banking location.
Q: Can McCrory customers still use their checks and debit cards?
A: Absolutely. Nothing will change at this time. Bank of McCrory customers should continue to use their same checks, debit cards and online banking services. Everyone will be notified well in advance of any changes to their accounts.
Q: Do customers need to do anything right now?
A: No. It is business as usual! Customers of both banks should continue to conduct business at their current bank locations.
Q: What if I have more questions?
A: Please feel free to call us at 870-238-6179 or contact us by email at email@example.com