Merger FAQs

Q: How does the Bank @lantec merger with Dollar Bank affect my accounts and loans?

A. For now, there will be no changes to your deposit or loan accounts or how you access those accounts. Account numbers, checks and debit cards will remain unchanged. You can continue to bank as you normally do. Bank @lantec branches remain open during the same business hours with the same friendly faces greeting you each day and you can continue to visit www.whereibank.com for your needs. In the summer of 2017, Dollar Bank will contact you about account changes.

Q. Will Bank @lantec’s routing and transit number change?

A. No, the routing and transit number will remain the same.

Q. What will change with online banking and the mobile application?

A. For several months, Bank @lantec has worked to upgrade the online banking system as well as offer improved functionality within the mobile application. These improvements were in process prior to the merger with Dollar Bank. In the summer of 2017, Dollar Bank will contact you about changes to online banking and the app as we bring our banking systems together.

Q. Why is Bank @lantec being temporarily operated as “a division of Dollar Bank, FSB” instead of becoming Dollar Bank?

A. To ensure a smooth transition for Bank @lantec customers, Dollar Bank is creating a comprehensive conversion plan. Dollar Bank wants the Hampton Roads community to experience this transition as a mutually inspired partnership. Unlike traditional stock-based bank mergers that benefit the stockholders and put the bank customers last, Dollar Bank and Bank @lantec’s shared concern is for you, our customer. Once full integration is complete in the fall of 2017, local bank offices will operate under the Dollar Bank brand.

Q. When will the merger transaction close?

A. As of December 31, 2016, Bank @lantec no longer exists. On January 3, 2017 Bank @lantec, a division of Dollar Bank, FSB opens for business with the benefit of Dollar Bank’s professional compliance, technology and marketing support. In addition, Bank @lantec, a division of Dollar Bank’s legal lending limit will increase tremendously to support the mortgage and lending needs of our region.

Q. Will the other recently announced merger with Progressive-Home Federal Savings and Loan affect Bank @lantec’s merger?

A. Absolutely not. The Virginia market remains a very exciting growth opportunity for Dollar Bank. The combined financial strength of the mutual banks, which will exceed $7.6 billion in assets, will help us to become an even more valued alternative to stock banks. Dollar Bank is committed to “serving the needs of Main Street, not Wall Street”. We are excited about the expanded financial products and services coming to the residents and businesses in the Hampton Roads community.

Q. Will you be adding/building more bank branches?

A. At this time, the focus is on rebuilding the Haygood branch and improving current facilities. Dollar Bank will always be looking for expansion opportunities in the Virginia market.

Q. What is happening at the Haygood branch?

A. Redevelopment of the current site at the corner of Independence Boulevard and Honey Grove is underway to create two new offices including a new bank branch and a U.S. Post Office. The current branch site will be demolished and a new branch including two drive-thru lanes, a drive-thru ATM and many convenient features inside will be available to customers. The Haygood branch is expected to reopen in the spring of 2017.

Q. Will the current accidental death and dismemberment insurance coverage offered through Bank @lantec remain in place?

A. The insurance contract is between the customer and the insurer and will remain in place. If you have any questions about your accounts, please call or visit your local branch.

Q: Why does Bank @lantec want to merge with Dollar Bank?

A: Dollar Bank is also a mutual bank. They are a larger institution with substantial financial resources, allowing Bank @lantec members to have access to a wide array of banking services and new areas of expertise. Like us, Dollar Bank is committed to providing its customers and the communities they serve, a sound alternative to the larger banks in the region.

Q: Who is Dollar Bank?

A: Headquartered in Pittsburgh, Pennsylvania, Dollar Bank has a position of safety and soundness that is envied by other financial institutions. With an asset size of $7.4 billion and the largest independent mutual bank in the nation, Dollar Bank is able to focus solely on its customers - the products that meet their needs, the services that offer them convenience, and a banking experience that lets them know that they are what is most important.* Founded in 1855, Dollar Bank operates more than 60 offices in southwestern Pennsylvania and northeast Ohio. Like Bank @lantec, they are a 5-star “superior” rated bank by BauerFinancial. You can learn more by visiting the website dollar.bank.

Q: Will you keep the Bank @lantec employees?

A: Yes, all of the employees currently operating Bank @lantec will continue to be employed under Dollar Bank in their current roles.

Q: Will my Bank @lantec business accounts be changing with this merger?

A: As with our personal accounts, there will be no immediate changes to existing business accounts. Dollar Bank does have extensive Treasury Management services and will be introducing these expanded services to Virginia businesses.

Q: Will Dollar Bank continue to support local organizations in the Hampton Roads community?

A: Dollar Bank has a long history of involvement in programs that benefit the communities they serve. They offer a dollar-for-dollar gift matching program for employees to assist with community efforts for which they are personally associated. In addition, Dollar Bank employees actively support the United Way, as well as organizations and causes for which they have a personal interest in by volunteering at events throughout the year. Volunteer days are provided as an employee benefit. Strong involvement with the communities Dollar Bank serves has always been and will remain a priority that now extends to include Hampton Roads.

*Source: FDIC.GOV, Mutual Institutions as of 9/30/16