Questions and Answers
As the Board of Directors and executive management of Park Bank considered the bank’s future, we selected First Midwest as our partner for two primary reasons:
- First Midwest and Park Bank share similar cultures and philosophies of providing personalized service, being our customers’ most trusted financial partner and supporting the communities in which we live and work.
- First Midwest can offer our customers access to deeper banking resources, a broader array of products and services and an expanded network of branches and ATMs.
First Midwest is headquartered in Chicago and is one of the largest independent bank holding companies in the Midwest. It has approximately $18 billion of total assets and an additional $12 billion of trust assets under management.
First Midwest Bank has been providing banking services to its communities for more than 75 years and offers a full range of commercial, treasury management, equipment leasing, consumer, wealth management, trust and private banking products and services. It has more than 125 locations in metropolitan Chicago, southeast Wisconsin, northwest Indiana, central and western Illinois and eastern Iowa, and is part of the Allpoint® ATM network, which provides access to more than 55,000 surcharge-free ATMs worldwide. It also has state-of-the-art online and mobile banking options.
For more information, please visit www.FirstMidwest.com.
This merger reinforces our shared commitment to relationship-focused banking and adds talented leadership and depth to our collective teams. It also offers you a broader array of commercial, treasury management, equipment leasing, consumer, wealth management, trust and private banking products and services and an expanded number of locations and ATMs at which to conduct business.
This announcement has no impact on your banking relationship with Park Bank, how your account(s), credit cards, or ATM or debit cards work, interest rates, loan payments, branch locations or hours or any element of your current banking experience. We will maintain local employees, knowledge and decision making and become an even more important resource to the communities we serve.
At this time, your account number will remain the same. If there are any changes required, we will provide you with detailed instructions with plenty of lead time to ensure a smooth transition.
You may continue to use your same accounts, checks and deposit slips. We will make your transition as simple as possible and notify you in advance if your checks or deposit slips will require replacement.
You may continue to use your ATM or debit card at this time without interruption. If there are any changes required, we will provide you with detailed instructions to ensure a smooth transition.
We expect the Park Bank employees who have been serving you in the past will continue to provide the same exceptional service to which you have grown accustomed.
Yes, at this time, all lobby and drive-up hours will remain the same.
Any direct deposits currently being credited to your account, or automatic payments being deducted from your account, will continue without interruption. We will notify you if your deposits or payments will require notification of changes to the originator.
Yes. The rate you are currently receiving on your CD will remain unchanged through its date of maturity.
You will continue to earn interest on these accounts according to the current account terms.
Yes. Please continue to make your loan payments to Park Bank. Loan payments cannot be made at First Midwest branches until the merger is complete. The interest rate on your loan will continue under its current terms and conditions.
No. First Midwest’s commercial loan production office and Northern Oak Wealth Management, one of First Midwest’s wealth management firms, are located in downtown Milwaukee at 555 East Wells. These locations do not accept deposits.
You will be able to use First Midwest locations to conduct business once conversion is completed. Additional communications regarding this transition date will be provided once it becomes available. For a First Midwest branch locator, please visit: www.FirstMidwest.com/Locator.
If you have questions about the FDIC insurance for your accounts, please call your local Park Bank branch manager or relationship manager.
If you have additional questions regarding the transaction, please call your local Park Bank branch manager or relationship manager.