Will all of my Bank of America accounts transfer to Commercial Bank?
The only accounts that are transferring to Commercial Bank are the deposit accounts such as checking, savings, IRAs and CDs belonging to customers and small businesses that are conveniently serviced at Independence, Coffeyville, Caney, and any safe deposit boxes customers have leased from those locations.
What will happen to my other accounts I may have at Bank of America?
There are no changes to other types of accounts customers may have with Bank of America, such as a residential mortgage, consumer and business loans, credit cards, or any investment accounts managed by them or their affiliates. Those accounts will stay with Bank of America.
When will I know if my accounts are included in the sale?
You will receive information from both Bank of America and Commercial Bank beginning in several weeks and throughout the length of the transition. Please watch your mail for this important information.
When will the sale take place?
We anticipate that it will take several months to complete the transition and receive the required regulatory approval for the purchase. We expect the sale to be final this summer with a target closing date and transfer in June.
Who can I contact with questions about the sale and my accounts?
Questions for Bank of America: If you have questions about your Bank of America accounts, you can speak with one of the associates at their banking centers in Independence, Coffeyville, Caney, or call 1-866-251-0233 and talk with one of their customer care agents.
Questions for Commercial Bank: If you have a question about how we will handle the transferring of your accounts to our bank, please contact a member of our customer service team, in Independence at 620-331-5110 or in Parsons, at 620-421-1000.
Are customers supposed to do anything now?
There is no action to be taken by customers at this time. Nothing has changed with your account. You should continue banking with Bank of America as you do today.