Important Information on Guaranty Bank Conversion

(Updated as of October 16, 2017)

 

We understand that there are likely many questions surrounding what's going to happen in the upcoming months and and what that ultimately means to clients of both Guaranty Bank & Trust (Guaranty Bank) and Cedar Rapids Bank & Trust (CRBT). We have put together the following updated information to help answer questions you may have about CRBT's acquisition of Guaranty Bank. If, after reading the information below, you still have questions, please feel free to call:

Cedar Rapids Bank & Trust:  319.862.2728 from 8:30 AM to 5:00 PM, Monday through Thursday, 8:30 AM-5:30 PM on Fridays and 9:00 AM-12:00 PM on Saturdays.

Guaranty Bank & Trust:  319.286.6200 from 8:30 AM to 4:30 PM, Monday through Friday.

The employees at both Cedar Rapids Bank & Trust and Guaranty Bank & Trust look forward to serving you as a stronger, combined community bank that offers you convenience, larger loan opportunities, local decision-making, trusted industry experience and “big bank” products delivered with “small bank” personalized service. We look forward to being “People you can bank on®.”


Updated Key Messages:
 

  • Guaranty Bank clients can continue to conduct all of their physical, online and mobile banking at Guaranty Bank until 5:30 PM on Friday, December 1, 2017. At this time, all Guaranty Bank accounts will begin to convert to CRBT systems. Please note: Online and Mobile Banking users will continue to have access to these services; however, they will be in View-Only mode.
     
  • Guaranty clients will receive a written Conversion Guide 30 days prior to the December 4th conversion date. The guide will provide important information regarding conversion weekend and any actions required prior to the start of conversion weekend at 5:30 PM on December 1st.
     
  • Beginning Monday, December 4th, the data system conversion will be complete and Guaranty Bank will legally and operationally change to Cedar Rapids Bank & Trust. GBT clients may begin to access CRBT Personal Online Banking and use their new CRBT Debit or ATM card beginning at 8:00AM. Clients may also begin to visit any of the five combined CRBT/GBT locations. For a listing of the combined branch locations and their respective hours, please refer to Question 6 below.
     
  • For existing CRBT clients, you may begin to access CRBT's expanded branch locations beginning Monday, December 4, 2017. Please note that lobby & drive-up hours will change for CRBT's Council St Branch location (refer to Question 6 below).
     
  • For both existing GBT and CRBT clients, you will continue to work with many of the same friendly and trusted staff that you have built relationships with over the years. Simply put - there will be more "People you can bank on®" to deliver exceptional client service and assist with all of your financial needs!
     
  • The two banks are working together to ensure minimal client disruption during this process.
     
  • Established in 2001,CRBT is a full-relationship community bank offering commercial and consumer banking, mortgage lending, private banking, and trust and investment services. Our focus is building relationships with clients and our community through exceptional customer service and community involvement.

Communication:
 

  • CRBT Press Release - June 8, 2017
  • Guaranty Bank Client Conversion Guide - Guaranty Bank clients will receive a written Conversion Guide 30 days prior to the December 4th conversion date. However, it will also conveniently be posted here beginning November 1, 2017.

Top 10 Client Questions About Upcoming Changes:


1. Will my account number change?

Checking, Savings, Money Markets, Certificates of Deposit, IRAs and Loans:  Your account number(s) will remain the same.

2. How soon can I start banking at a Cedar Rapids Bank & Trust location?

Beginning Monday, December 4, 2017, Guaranty Bank clients will be able to visit any of the five combined CRBT/Guaranty Bank locations. For a listing of the combined branch locations and their respective hours, please refer to Question 6 below. Clients may also begin to use CRBT Personal Online Banking, as well as their new CRBT Debit or ATM card beginning at 8:00AM. More detailed information regarding CRBT Personal Online Banking and Debit/ATM cards will be provided within the Conversion Guide you will receive 30 days prior to conversion completion on December 4th.

3. How long can I continue to use my Guaranty Bank checks?

Account numbers and routing number will not change. Therefore, you may continue to use your existing GBT checkbook supply and deposit slips for an extended 6-month period through May 31, 2018. However, while we plan to honor GBT checks through this extended timeframe, we kindly request that you eventually order and begin to utilize updated CRBT checks with the CRBT name and routing number prior to May 31, 2018. When you are ready to order your updated CRBT checks from December 4, 2017 through May 31, 2018, CRBT is pleased to offer you your first box of checks free through our check provider, Deluxe.*

4. Will I have to buy new Cedar Rapids Bank & Trust checks?

While you may continue to use your existing GBT checkbook supply and deposit slips for an extended 6-month period through May 31, 2018, we kindly request that you eventually order and begin to utilize updated CRBT checks with the CRBT name and routing number prior to May 31, 2018. When you are ready to order your updated CRBT checks from December 4, 2017 through May 31, 2018, CRBT is pleased to offer you your first box of checks free through our check provider, Deluxe.*

5. What happens to my Guaranty Bank Debit card?

If you currently have a GBT Debit card or ATM card, you will receive a new free CRBT Visa® Debit card or ATM card prior to conversion weekend beginning at 5:30 PM on December 1, 2017. Please note that while you can activate your new CRBT card upon receipt, you will not be able to use your new CRBT card until 8:00 AM on Monday, December 4th.  Your GBT card(s) will continue to work until 10:00 AM on Monday, December 4th. Prior to December 4th, please review any recurring automatic payments or deductions you have tied to your current GBT Debit card (Amazon Prime, health club, etc.) and notify payees in advance to use your new CRBT Visa Debit card number and expiration date, effective on Monday, December 4th.

6. Which Guaranty Bank branch locations will remain open after the merger?

Beginning Monday, December 4th, clients will have access to the following combined five CRBT/GBT locations:

Downtown Main Bank (closest location to GBT Downtown 3rd Ave SE location that will permanently close at the end of business on Friday, December 1, 2017)
500 1st Ave NE, Ste 100, Cedar Rapids, IA 52401
Phone: 319.862.2728  |  Fax: 319.862.2729
 
Lobby Hours
Monday-Thursday 8:30am - 5:00pm
Friday 8:30am - 5:30pm
Saturday 9:00am – 12:00pm
 
Drive-Up Hours
Monday-Thursday 7:30am - 5:00pm
Friday 7:30am - 5:30pm
Saturday 9:00am – 12:00pm

All other CRBT branch locations:

Council Street Branch (closest location to GBT 42nd St NE location that will permanently close at the end of business on Friday, December 1, 2017)
5400 Council St NE, Cedar Rapids, IA 52402
Phone: 319.743.3555  |  Fax: 319.743.1185
 
Bever Branch
2711 Bever Ave SE, Cedar Rapids, IA  52403
Phone:  319.896.6194  |  Fax:  319.247.7131

Cedar Hills Branch
191 Jacolyn Dr NW, Cedar Rapids, IA  52405
Phone:  319.286.6282  |  Fax:  319.390.2515

Marion Branch
700 25th St, Marion, IA  52302
Phone:  319.286.6261  |  Fax:  319.377.2485

Lobby & Drive-Up Hours (for Council St, Bever, Cedar Hills & Marion)
Monday-Thursday 9:00am - 5:00pm
Friday 9:00am - 5:30pm
Saturday 9:00am – 12:00pm

7. Will my Bill Pay information convert over?

For current GBT Bill Pay users, you must re-enroll in CRBT's Bill Pay within Personal Online Banking and accept the Terms & Conditions. Do not re-create payments. All payments, including recurring payments, will continue regardless if you have re-enrolled in CRBT Bill Pay. If you currently have payee and/or history within your GBT Bill Pay, please note that this information will not automatically transfer over at time of conversion. However, beginning December 4th, you can simply contact CRBT to request that ALL of your payee and history information be transfered over to your new CRBT Bill Pay:

  • During regular business hours, please contact CRBT at 319.862.2728 and speak with one of our Account Executives to have your information transferred over.
  • During after-hours, please call our dedicated Bill Pay Voice Message System at 319.743.7099 and leave us a message with the requested information outlined in the conversion guide you will receive 30 days prior to the December 4th conversion date . We will then call you to confirm that your information has been successfully transferred over.
  • Please allow our staff 24 hours to complete this request.
  • Exception:  Clients that have not paid any bills in 2017 will not have the option to have payee information transferred over. The client will need to add payees.

8. Do I have to re-enter all of my Bill Pay information?

No, you will not have to re-enter all of your Bill Pay information. However, you will need to make a formal request to have your payee and history information transferred over into the new CRBT system; it will not automatically transfer over. Beginning December 4th, you can simply contact CRBT to request that ALL of your payee and history information be transfered over to your new CRBT Bill Pay:

  • During regular business hours, please contact CRBT at 319.862.2728 and speak with one of our Account Executives to have your information transferred over.
  • During after-hours, please call our dedicated Bill Pay Voice Message System at 319.743.7099 and leave us a message with the requested information outlined in the conversion guide you will receive 30 days prior to the December 4th conversion date . We will then call you to confirm that your information has been successfully transferred over.
  • Please allow our staff 24 hours to complete this request.
  • Exception:  Clients that have not paid any bills in 2017 will not have the option to have payee information transferred over. The client will need to add payees.

9. Will I still have access to mobile banking, including mobile deposit?

Yes. Beginning Monday, December 4th, you must enroll in CRBT's mobile banking app, TouchBanking, to continue to access to your account information via your mobile device. You will also continue to enjoy convenient mobile services such as mobile deposit and Popmoney!  Please Note: During conversion weekend beginning at 5:30 PM on December 1st, mobile and online banking will go into View-Only mode until 8:00 AM on December 4th, at which time you can enroll in CRBT's mobile banking.

10. If I am an existing CRBT client, what does this all mean to me?

For existing CRBT clients, you will enjoy the convenience of more locations. In addition to CRBT's Downtown Main Bank located at 500 1st Ave NE and  the Council Street Branch at 5400 Council St NE, you will also gain access to the following GBT locations that will become CRBT branch locations effective Monday, December 4, 2017: 

Bever Branch
2711 Bever Ave SE, Cedar Rapids, IA  52403

Cedar Hills Branch
191 Jacolyn Dr NW, Cedar Rapids, IA  52405

Marion Branch
700 25th St, Marion, IA  52302

Q&A Previously Posted on June 8, 2017:

What is happening to my bank?

On June 8, 2017, Guaranty Bank & Trust announced that it would be acquired by QCR Holdings, Inc., the parent company to Cedar Rapids Bank & Trust.

Why was CRBT selected as the acquirer of Guaranty Bank?

The Board of Directors of Guaranty Bankshares considered all alternatives and believes a sale of Guaranty Bank to QCRH/CRBT represents the best long-term alternative for shareholders, clients and employees.  Guaranty Bank and CRBT share similar cultures of exceptional client service and community involvement. Both are well respected in the Cedar Rapids area and we believe the combination of the two organizations will better serve the community.

Will I receive information from CRBT?

Yes, we will provide clear communication to ensure that Guaranty Bank customers understand how this transition will affect them. You will receive everything you need to ensure the merger is as smooth as possible with minimal impact or inconvenient.

You will receive easy-to-understand conversion material with information and instructions regarding any actions you may need to take for your account options in advance of the data processing conversion. Conversion materials will also be posted here on our website as available.

Should I expect someone to call or email me to verify my deposit account information?

No, neither Guaranty Bank nor CRBT will call or email you to ask for your personal, confidential information. However, if you call us, we may ask you for some of that information to simply verify your identity. Please let us know if someone calls or emails you, claiming to be from Guaranty Bank and/or CRBT, and asks you for personal, confidential information.

Are CRBT’s Products and Services the Same as Guaranty Bank?

Like Guaranty Bank, CRBT offers retail and commercial banking, private banking, mortgage lending, and trust and investment services. However, we believe CRBT will enhance the existing offerings with expanded products and services, enhanced lending and leasing capabilities, and synergy of expertise. In advance of any changes, you will be mailed a CRBT Products and Services Guide, along with important information about the conversion, and steps you may need to take to ensure a smooth transition.

What is CRBT’s approach to lending and how will it affect my loans with Guaranty Bank?

CRBT takes pride in being extremely responsive to loan requests. We offer a variety of loan products for individuals and businesses at competitive rates. At this time, the terms and conditions of your loan(s) and line(s) of credit will remain the same.

What happens to my FDIC insurance coverage if I have deposits at two insured banks that merge?

After the completed conversion on December 4, 2017, if your combined balances at Guaranty Bank and CRBT remain less than $250,000, you do not need to make any changes to your accounts. Alternately, if the combined total balances exceed $250,000, there is no reason to immediately withdraw money or restructure your accounts. The FDIC will continue to provide deposit insurance up to $250,000 for each of your account ownership categories. The FDIC has a special rule that says when two banks merge, a customer’s deposits will be considered to be separately insured – as if the two banks are still operating separately for at least six months. This grace period gives a depositor the opportunity to restructure his or her accounts, if necessary. Prior to making any account changes, simply reach out to your banker to discuss your options. You may be eligible for insurance coverage over $250,000 depending on the ownership structure of your accounts.

Who is Cedar Rapids Bank & Trust?

In Spring 2001, four veteran businessmen took the first leap to create a community bank that would cater to the needs of local customers. Their mission was simple – create an organization where relationships and service matter.  Their vision was to assemble the best banking talent available and to build a bank that would be capable of serving the long-term growth needs of Cedar Rapids and its surrounding communities.

On September 28, 2001, this dream became a reality. CRBT opened to the public with 17 employees and $14.5 million in assets. From day one, their highly-motivated team of bankers has been committed to building relationships through professional, personal service.

CRBT is a full-relationship bank that provides retail and commercial banking, mortgage lending, private banking, and wealth management services. As an organization committed to exceptional service, CRBT strives to add value to clients by helping connect them to other people and services within CRBT, as well as additional resources and tools outside the bank that can assist them in reaching their financial goals. CRBT clients enjoy the tools of a major financial institution, the convenience of a one-stop financial resource, and the responsiveness that can only come from a client-focused bank. But just as important, all of their personnel are right here in our Eastern Iowa communities. CRBT believes local matters and makes a difference.

The Bank has experienced phenomenal organic and strategic growth since its inception. Today, CRBT has grown to 125 employees, 5 locations and over $1.00 billion in assets as of August 31, 2017. This includes the purchase of Village Bank’s assets and liabilities after the Flood of 2008 and more recently, the acquisition of Community Bank & Trust (previously Community National Bank), which operates as a division of Cedar Rapids Bank & Trust with 3 locations in Cedar Falls/Waterloo .

Recent accolades include: #1 SBA Bank in Iowa over the past eight years (based on total dollar volume from FY09-16); #1 USDA Business Lender (Business & Industry) in Iowa and #5 in the Nation (2016); Corridor Business Journal Coolest Places to Work Honoree (2014 & 2015); Corridor Business Journal Worksite Wellness Recognition in the 100-249 employees category (2016), 100% Employee Giving to United Way for 15th Consecutive Year (2016); 12th annual CRBT Movies on the Riverbank series (2017), which has become their signature community event held at the McGrath Amphitheatre during the summer; Presenting Sponsor of the entire Cedar Rapids Downtown Farmers Market (2017-2019) and 4,150 Total Employee Volunteer Hours (2016).

These achievements reflect the confidence of clients and the dedication of their knowledgeable and experienced staff to continually focus on relationships. Under the leadership of CRBT President & CEO, Larry Helling, Cedar Rapids Bank & Trust is committed to the clients and communities we serve. This focus has guided Cedar Rapids Bank & Trust in the past and will continue on as the strategy far into the future.

Who is QCR Holdings, Inc.?

QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company. Similar to Guaranty Bankshares Ltd., both organizations share a similar culture of delivering exceptional customer service through the local community bank model.  Both organizations strive to hire the very best people in their markets and encourage them to participate heavily in their communities.

QCRH serves the Quad City, Cedar Rapids, Des Moines/Ankeny, and Rockford communities through its wholly owned subsidiary banks.  Quad City Bank & Trust is based in Bettendorf, Iowa, has 5 locations, and commenced operations in 1994.  Cedar Rapids Bank & Trust is based here in Cedar Rapids, Iowa, has 2 locations and commenced operations in 2001.  Community State Bank in Des Moines/ Ankeny was acquired by QCR Holdings in 2016 has 10 locations.  Rockford Bank & Trust Company is based in Rockford, Illinois has 2 locations and commenced operations in 2005. Additionally, the Company serves the Waterloo/Cedar Falls, Iowa community through Community Bank & Trust, a division of Cedar Rapids Bank & Trust Company. In addition, Quad City Bank & Trust engages in commercial leasing through its wholly owned subsidiary, m2 Lease Funds, LLC, based in Milwaukee, WI.

 

* Offer only valid for 1 box of "Specialty Gray High Security"  checks. Use Promo Code:  GBTFREE