The City National Bank of Shenandoah has formally been approved for conversion to a State Chartered Bank. As of December 11, 2013, the bank will be named "Century Bank".
According to Greg Ritchey, President, "Supervision by a state regulator may provide a better understanding of the local market and unique opportunities and challenges associated with rural community bankers."
Mike Bauer, Senior Vice President, added "We had a very good relationship with the OCC, but in the end, the differences between National and State charters have been eliminated to the point that a state charter provides the same benefits, more local understanding, and improved cost effectiveness. Most importantly, we think it will be better for our customers in the long run."
"Conversion to a state charter will not result in any change in the Bank's operation or the products or services we offer," Ritchey added.
****ACCOUNT AND ROUTING NUMBERS WILL STAY EXACTLY THE SAME. CHECKS, DEBIT CARDS AND ATM CARDS CAN BE USED UNTIL THEY EXPIRE OR RUN OUT. PLEASE CONTACT THE BANK FOR ANY QUESTIONS OR CONCERNS****
To view the KMA interview regarding the Bank's change, please click here.