Merger - Frequently Asked Questions
Q-How will the consolidation of our two banks, The Talbot Bank and CNB, impact me as a customer?
We will continue to offer the same great products and services, by the same great people, just a new name. The backroom operational areas of CNB and The Talbot Bank have been combined for several years. The impact to our customers will be minimal; you may still use your existing checks, debit and credit cards, and loan coupon book.
Q- Why did we decide to change the name to Shore United Bank versus operating under one of the existing bank names?
Management and the Board of Directors wanted the combined bank name to represent the rich history of both banks, our market locations, the connection to our parent company (Shore Bancshares, Inc.) and the process of our two banks uniting as one. The unanimous decision was to name the consolidated bank Shore United Bank.
Q- Will the new bank still be a community bank?
Yes. As a community bank, Shore United Bank will continue to offer innovative banking services delivered with the personal touch you expect from a community bank. We are built around the character of our people and committed to the success of our clients and our communities.
Q- Will I need to change my account information for my direct deposit or automatic withdraw?
The majority of our customers will have no change to their account information. We do have a few customers who will be personally contacted and assisted with changes to their account information. These changes will occur prior to our systems merger in September 2016.
Q-Are there any changes to my account service fees, terms, features, or benefits?
There will be no changes to your account services fees, terms, features, or benefits at this time. In 2014, in anticipation of the consolidation of our banks, we standardized our deposit products and services to minimize the customer impact of the consolidation.
Q- Will the bank website address be changing?
Yes. You may begin using www.ShoreUnitedBank.com as of the legal merger date which is anticipated to be July 1, 20161. If you do enter the existing bank website addresses you will automatically be re-directed the Shore United Bank site.
Q – Will my User ID for online or mobile banking change?
You will continue to use your same user ID for online and/or mobile banking at this time. As we prepare to merge our online and mobile banking systems we will determine if there are any duplicate User ID’s across the two banks. We will personally contact affected customers and assist them with any necessary change.
Q- Will there be any changes on how I access my accounts through online banking?
You will continue to use the same ID and passcode information to login to your accounts. We will however be making changes to the website so the login process will look different. Online Banking customers will receive additional instructions on how to login. If you have the login page saved for Talbot-bank.com or CNB-bank.com you will be automatically re-directed to the new website at www.shoreunitedbank.com. We ask that you update your favorite settings to reflect the new address.
Q- Will there be any changes on how I access my accounts through mobile banking?
You will continue to use the same ID and passcode to login to your accounts. The mobile banking icons will be updated to Shore United Bank – formerly CNB or Shore United Bank- formerly The Talbot Bank. In September 2016, our operating systems will merge and mobile banking customers may need to update or refresh their mobile banking app. Additional information will be provided to mobile banking customers prior to this change.
Q- Will I be able to use my existing checks?
Yes. You may continue to use your existing checks. New check orders processed on or after July 1, 2016 will reflect the new bank name and logo.
Q- Will my debit or ATM card continue to work?
Yes. Your card will continue to work. We are in the process of converting our debit cards to EMV “chip” enabled debit cards. Later this year customers may receive a new debit card. Newly issued or replacement cards will reflect the new bank name – Shore United Bank.
Q- Will there be any changes to my debit, ATM or credit card PIN?
Your existing PIN number(s)s will continue to work with no changes.
Q- Will the name change impact my loan account?
No. Your loan account number and loan terms remain the same. If you have a coupon book, you may continue to use those coupons for your payments.
Q- Will decisions about loans continue to be made locally?
Yes. As a community bank, decisions are made locally, by the same great people who live and work in our communities.
Q- After the consolidation to whom will I make my loan payment?
Checks should be made payable to “Shore United Bank” for any loan payments as of July 1, 2016. However, we will still accept checks made payable to The Talbot Bank or CNB.
Q- What about my favorite teller?
You will continue to see the same great people, just a new bank name when you visit any of our 18 branch locations.
Q- I have accounts at both CNB and The Talbot Bank, will all my accounts still be FDIC insured?
The accounts at each bank will be separately insured for six (6) months or until they mature (if > 6 months) for certificates of deposit (CD). A CD that rolls over for the same term during this six month transition period is separately insured until the new maturity date. More information about FDIC insurance is available at https://www.fdic.gov/deposit/ or from your local branch. Your Branch Manager or account officer will assist you with your FDIC insurance coverage questions.
1 Pending regulatory approval, the two banks will merge on or after July 1, 2016 as Shore United Bank.