What happened to The First National Bank of Olathe?
The First National Bank of Olathe (FNB) was closed Friday, August 12, 2011 by the Office of the Comptroller of the Currency which appointed the FDIC as Receiver. Enterprise Bank & Trust has agreed to assume all of the deposits and acquire certain assets of FNB. According to regulatory policy, no advance notice is provided to the public when a bank is closed.
How does this closing affect me?
If you had a deposit account at FNB, you will now have a deposit account at Enterprise Bank & Trust. FNB’s six branches re-opened as branches of Enterprise Bank & Trust on August 13, 2011 and we welcome you to the Enterprise family. The hours of operation remain the same.
How will I access funds in my account?
Your accounts remain safe and easily accessible. Simply continue to use the former FNB locations as usual. Continue to use your current checks, deposit slips and debit card.
Are my accounts insured by the FDIC?
Yes. Accounts at Enterprise Bank & Trust are insured by the FDIC to the maximum permitted by law.
How do I verify my FDIC coverage?
The FDIC has useful tools online to help you determine your FDIC insurance coverage. Visit www.fdic.gov/edie/index.html for more information.
How does this affect my trust account?
FNB’s trust accounts were also acquired by Enterprise Bank & Trust and you now have a trust account with Enterprise. The investment assets in your trust account remain in your account exactly as before and remain accessible to you.
Will my outstanding checks be cleared?
Checks drawn on FNB that did not clear before the bank closed will be honored up to your available balance.
Do I need to change my direct deposit or automatic transfers?
No. At this time you don’t need to make any changes to your direct deposit instructions, pre-approved transfers or debits to or from your account. If you have your Social Security checks direct deposited, your deposits will continue to be credited to your account without interruption.
Will I still be able to use online banking and bill pay?
Yes. You will still be able to use your current online banking and bill pay systems until we merge computer systems. We have prepared an online F.A.Q for all electronic banking questions.
Can I use Enterprise Bank & Trust’s other branches?
Not yet. You can transact business at any of the former FNB branches, but your accounts won’t be accessible at Enterprise’s other branches until we merge computer systems. We’ll keep you informed about the timetable for the systems conversion.
Will there be any changes to my accounts?
Your accounts will remain the same until we merge FNB’s computer systems into Enterprise systems. At that time you will have access to many additional types of personal and business banking services and you will be able to use any Enterprise Bank & Trust branch. In the interim, we may make changes in certain interest rates. We will let you know about any changes in your accounts.
Will my CD continue to earn the same interest rate?
We are reviewing bank products and interest rates and will let you know if anything will change on any deposit account you had with FNB. You may withdraw funds from any former FNB deposit account without an early withdrawal penalty.
Do I need to change my loan payments? Where should I send loan payments?
The terms and conditions of any loan you had with FNB remain the same. Please continue to make your loan payments as usual. We will notify you if anything changes.
What if I have other questions?
Just stop by any of the former FNB branches or call us at 913-791-9111.