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On the close of business April 19th, 2024, Flagship Bank Minnesota will be merging with its affiliate bank, Security Bank & Trust Co. The merger will expand access to 21 full-service branch locations across Minnesota from Glencoe, MN to Cambridge, MN.
As one of the few remaining locally owned and grown banks, we appreciate you have chosen to bank with us. We understand that changes can complicate your lives and your businesses. Please expect regular communication in the coming weeks as we get closer to the merger date.
Our team is working hard behind the scenes to ensure a smooth transition. Below, we have provided a quick summary of common questions that you may have about the switch from Flagship Bank to Security Bank & Trust Co. A detailed listing of conversion changes can be found in the conversion guide being mailed to every client and linked to below.
As always, please reach out to us with any questions.
"This merger represents a significant milestone in our history, marking the culmination of a close partnership that began in 2013. Since then, Flagship and Security have shared a common vision: to provide our customers with the exceptional banking experience they deserve. Our commitment to you remains steadfast; the same dedicated team of banking professionals you've come to rely on will continue to serve you, ensuring a seamless transition and unwavering support. As we embark on this new chapter, we are confident that the combined strength and expertise of Flagship and Security will elevate our ability to serve you even better.Thank you for trusting us with your banking needs."Andy SchornackCEO, Flagship Bank MinnesotaPresident, Security Bank & Trust Co.
Key Dates & Times to Remember
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April 10th - April 19th |
Your NEW Security Bank & Trust Co. MasterCard® Debit Card arrives. You may activate upon receipt. |
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April 12th |
Bill Pay access will be disabled at 3:00 p.m. |
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April 19th |
• Flagship Bank Minnesota Online & Mobile Banking disabled at 3:00 p.m. • At the close of business day, the system conversion will begin for the Flagship Bank Minnesota system. • Statements from the Flagship Bank Minnesota system will be cut & mailed for all Checking & Savings accounts. |
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April 20th |
• Security Bank & Trust Co. Debit Cards live and ready for use. • Destroy Flagship Bank Debit Card upon successful use of your Security Bank & Trust Co. Debit Card. • Security Bank & Trust Co.'s Funds Availability goes into effect. • Security Bank & Trust Co.'s Fee Schedule goes into effect. |
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April 22nd |
• Security Bank & Trust Co. Online Banking live and ready for use at 8:00 a.m. This includes Mobile Banking, Mobile Deposit, Bill Pay, etc. • Security Bank & Trust Co. Routing number is in effect for all Direct Deposit & ACH Originators: 091916161 • Expect to see the same friendly faces on Monday morning! |
Customer FAQs
Is there anything I need to do right now?
- Bill Pay Users: Access to Bill Pay will be restricted on April 12th, 2024. Download any payment history for your records prior to April 12th. This information will not be available after 3:00 P.M. CST on April 12th. Please note that any payments scheduled from April 13th-April 21st will not be processed.
- Person To Person (P2P) Payments: Alternate arrangements should be made for person to person payments, as this feature does not carry forward in Security Bank & Trust Co. Online Banking.
- Online Banking Users: You are advised to download eStatements and account history for your records prior to April 19th at 3:00 P.M. Two years of eStatement history will be available on the Security Bank & Trust Co. Online Banking platform approximately 30 days post-merger. You will begin using Security Bank & Trust Co. Online Banking April 22nd, 2024 at 8:00 a.m.
- Download the Conversion Guide: The conversion guide provides all the following details and disclosures regarding the merger and the impact to your account.
What will happen with my online banking?
Flagship Bank Minnesota Online & Mobile Banking will be disabled on April 19th, 2024 at 3:00 p.m. Access to Online Banking will not be available during the conversion weekend. Bill Pay will be restricted beginning on April 12th, 2024, at 3:00 p.m.
We will be transitioning to a new online banking platform starting on April 22, 2024. Your online banking enrollment will automatically roll over; allowing you to use your existing AccessID (username) and create a new Passcode (password). Navigate to www.security-banks.com and select the "Flagship Enrollment" button to log-in.
What to expect on your first login?
- Use your Existing AccessID (username)
- Must Provide For Validation:
- Social Security Number
- Full Account Number
- Must Provide For Validation:
- Create a new Passcode (password)
- You will see your existing bank account(s)
- • Bill Pay subscribers will see existing Payees
NEW Security Bank Online Banking Tips:
- Please be aware on your first login to Security Bank Online Banking you should choose the ‘Flagship Enrollment’ button to use your existing AccessIDs from Flagship.
- During your first login you will need to provide your full social security number and a full account number of one of your online banking accounts.
- Once logged in, we recommend you navigate to your name in the top-right corner & choose the drop-down menu option title ‘Contact Information’ to verify your profile is configured as you desire.
Can I continue to use my old checks?
YES. We allow the uninterrupted use of on-hand check blanks. However, the next time you order checks you will be required to change the bank name and routing number. If you place your next check order at a branch, this will happen automatically.
Will I receive a new debit card?
YES. You will be receiving a new Security Bank & Trust Co. MasterCard® Debit Card before April 19th, 2024. Please destroy your Flagship Bank Minnesota debit card and begin using your new Security Bank & Trust Co. debit card on April 20, 2024.
Your new Security Bank & Trust Co. MasterCard® Debit Card comes with the following limits:
| Personal | Business | |
| Point of Sale Purchase Limit | $500 per day | $1,000 per day |
| ATM Cash Withdrawal Limit | $210 per day | $309 per day |
If you need to temporarily increase these limits, contact your local branch.
Will locations or business hours be changing?
Current Flagship Bank locations and business hours will not be changing, nor will the friendly faces you have come to know and rely on at our branches. You will now have access to an additional network of 15 more branches in Isanti, McLeod, Carver, and Sibley counties . Check out this list of current Security Bank & Trust Co. locations: Security Bank & Trust Co. Locations & Hours
Will I need to change any automatic debits that come out of my account? What about direct deposits like social security and payroll?
NO. The automatic payments and direct deposits you currently have set up will post to your account at Security Bank & Trust Co. However, after April 19, 2024, you must use the Security Bank & Trust Co.’s routing and transit number when setting up NEW ACH payments, direct deposits, and check orders.
Security Bank & Trust Co.’s Routing and Transit Number is: 091916161
Will my account number change?
NO. Your account number(s) on your deposit account(s) including Checking, Savings, Certificates of Deposit, Individual Retirement Accounts, Health Savings Accounts, and Money Market Accounts will not change as a result of this conversion, unless previously disclosed in separate mailings.
Who is Security Bank & Trust Company?
Established in Glencoe, MN in 1935, Security Bank & Trust Co. is a family-owned community bank. From its founder Arthur Hoese to the current CEO, Gale Hoese, the Hoese family continues to lead on the same principles by which it was founded: personal relationships, trust, and community involvement.
Since 2013, Flagship has worked closely with Security through a connection of common ownership. Upon merger, we are excited to increase your access to products and services across 21 branches around the Twin Cities Metro Area and the Highway 212 corridor.
Learn more about the Security Bank & Trust Co:
Does Security Bank & Trust Co. have Overdraft Protection?
YES. Security Bank & Trust offers services to avoid overdrafts:
- Automatic transfer from another account at Security Bank & Trust Co.
- Ready Reserve Line of Credit* (credit approval required)
*If you have a Flagship Bank Minnesota Ready Reserve Line of Credit for overdraft protection, it will be transferred to Security Bank & Trust Co.
Will my account statement day change?
You will receive a final statement from Flagship Bank Minnesota with your activity through April 19th. All accrued interest will be credited to your account at that time.
Following conversion your Security Bank & Trust Co. statement cycle will be as follows:
- Flagship Bank Minnesota consumer checking, business checking, consumer and business money market and health savings account cycles will be the last day of each month at Security Bank & Trust Co.
- Flagship Bank Minnesota savings account cycle will remain quarter-end at Security Bank & Trust Co.; or at month-end for those accounts in which an electronic funds transfer occurred.
Still have questions? Check out the full conversion guide or call your local Flagship Bank branch.
