Deposit Accounts:
Centennial Bank has assumed the deposits of Bayside Savings Bank. Working in unison with Bayside Savings Bank and the Federal Deposit Insurance Corporation (FDIC), Centennial Bank assures you and the community no customer will lose any deposits.
In this age of considerable change, we are proud of our history as a respected financial institution with a reputation for financial strength. As a new customer of Centennial Bank we want to provide you with meaningful, clear, concise information.
• Continue to conduct your banking exactly as you have in the past. Continue using your checks, ATM and debit cards, direct deposits, bill pay, auto debits, wire transfers and online banking. Any changes that might occur will be communicated to you well in advance.
• Centennial Bank participates in the FDIC’s Transaction Account Guarantee Program which means through December 31, 2010, all your non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the $250,000 coverage available under the FDIC’s general deposit insurance rules. This means your deposited funds are safe with Centennial Bank.
• Your money is readily available for your use. There are several easy ways for you to claim your account(s). As a deposit customer you will receive a letter from Centennial Bank soon with an enclosure titled “Notice to Depositors of Bayside Savings Bank”. Please read the document carefully. Again, this is a very simple process required by the FDIC.
• If you are a Certificate of Deposit customer, any changes to your rates are detailed in the “Notice of Changes to Your Interest Bearing Accounts” also enclosed with your letter. All checking and savings account fees and charges will remain the same for the time being. Centennial Bank will be reviewing the Bayside Savings Bank accounts over the next few months and you will be notified well in advance if there are changes.
We are a community bank dedicated to conservative financial principles and committed to providing the financial resources to help our communities grow. Centennial Bank believes a stable and secure institution leads to a comfortable and trusting experience. No one should settle for less.
Once again, we are honored to be your bank and we look forward to proving we are the right bank for you.