Valley Bank & Trust Acquisition by TBK Bank, SSB Customer Q&A
Welcome customers and team members of Valley Bank and Trust. TBK Bank would like to earn your continued business by providing a high-level of customer service with experienced community bankers and local decision making.
- Why is Valley Bank & Trust being sold to TBK Bank?
Valley Bank & Trust is 46 years old this year. The O’Dell Family is ready to pass on the torch to another owner. After looking at many opportunities, we CHOSE TBK because it’s a wonderful match in culture and values and service. We are very comfortable that TBK will take very good care of our customers and will serve them in the same traditional banking style that they have been accustom to for many years.
- What can you tell us about TBK Bank?
Headquartered in Dallas, Texas, TBK Bank, SSB has $2.7 billion in assets and its parent company, Triumph Bancorp, Inc., is publicly traded on the NASDAQ under the ticker symbol TBK. Today, TBK Bank has 37 branches – 1 in Dallas, 18 in Iowa and Illinois, and 18 in Colorado and Kansas. Its 18 branches in Colorado and Kansas joined TBK Bank with its acquisition of Colorado East Bank & Trust in 2016. TBK also recently announced the signing of a definitive agreement to acquire 9 branches from Northstar Bank, a branch of Independent Bank in Colorado.
TBK Bank also has several commercial finance divisions and subsidiaries including Triumph Commercial Finance, Triumph Healthcare Finance, Triumph Premium Finance, Triumph Insurance Group and Triumph Business Capital.
If you’d like to learn more about TBK Bank, please visit their website, www.TBKBank.com. To learn more about Triumph Bancorp, please visit their website, www.TriumphBancorp.com.
- Will the name of Valley Bank & Trust change?
As of 5:00pm on Friday, December 8th, Valley Bank & Trust became TBK Bank, SSB.
- What does TBK stand for?
TBK is the ticker symbol for TBK Bank’s holding company Triumph Bancorp, Inc.
5. Will any of these branches be closed?
TBK Bank acquired Valley Bank & Trust because we complement their current footprint and product offering in Colorado. While evaluating branch locations and doing what is in the best interest of employees, shareholders, and our communities is a normal course of business, there are no plans to close branches at this time.
6. With whom should I speak if I want more information?
If you have any additional questions, our Branch Presidents or Branch Managers are happy to speak with you.
7. Will everyone in the bank have a job in the new organization?
We anticipate that there will be some retirements and that some back-office and support functions will be consolidated. However, we expect that customer-facing employees will see little-to-no changes.
8. Will your fees change?
Please refer to the transition guide or contact your local branch for more details.
9. Will my account numbers change? Will I need new checks and debit cards? Will my direct deposits or automatic payments be affected? Will I still be able to access my accounts online?
You should have received information from TBK Bank that provided detailed information on what will and what will not change.
Majority of our customers will keep their account numbers – the only case in which your account number will change is if there is a duplicate with TBK Bank’s existing account numbers. Your routing number will change to a TBK Bank routing number. As such, TBK Bank will reissue new checks and debit cards and you can access your online banking via TBK Bank’s website, www.tbkbank.com.
TBK Bank’s goal is to make this transition as seamless as possible for you.
10. Will my deposits still be insured by the Federal Deposit Insurance Corporation (FDIC)?
Yes, your deposits continue to be insured to the maximum allowed by the FDIC. If you have any questions, one of our branch employees can review your accounts with you to make sure your accounts are structured to allow for the maximum coverage.
11. What number do I call to reenroll in telephone banking?
To reenroll in telephone banking, simply call 1-877-321-4347.