Welcome Bank of Ripley!
Get the details about the transition from the Bank of Ripley.
As the Bank of Ripley transitions to join Security Bank and Trust Company, you may have numerous questions.
First off, welcome! We are so glad you are here.
Our aim is for this list of questions and answers to begin addressing your inquiries. Although the change of ownership is anticipated to be finalized by year end 2024, the Bank of Ripley name will not change until a system conversion in August 2025. Our team is committed to keeping you updated throughout every phase of the process.
Be sure to verify your contact information at any Bank of Ripley location to ensure that you do not miss important information coming your way.
Q: Who is Security Bank and Trust Company?
A: From humble beginnings in 1905, Security Bank and Trust Company is a locally owned, full-service community bank that has been serving the financial needs of our customers for over 119 years. We are dedicated to exceptional customer service, timely information and decisions, quality products and services, and promoting the economic growth of the communities that we serve. Today, Security Bank and Trust Company is approaching 1.2 billion in assets and employs over 120 dedicated bankers ready to assist you in Gibson, Henry, Obion and Weakley counties in TN, along with Fulton County, KY. While our size has significantly expanded, our locally owned atmosphere remains unchanged. In essence, we are local people serving local needs.
Q: When will the Bank of Ripley name change to Security Bank and Trust Company?
A: While Bank of Ripley is now part of Security Bank and Trust Company, its former branches and most services offered will operate as “Bank of Ripley, a division of Security Bank and Trust Company” until we complete the integration of our systems tentatively scheduled for midsummer 2025. During this time, account information, account-related documents, including debit card and branch/ATM receipts, and other banking materials may continue to reflect the Bank of Ripley’s name or logo or other Bank of Ripley branding.
Q: How and when will Security Bank and Trust Company communicate to Bank of Ripley customers about changes?
A: We will notify customers well in advance of any changes to their accounts or other services. Customers should look for the Security Bank and Trust Company “blue logo” in their mail for important updates. They can also get up to date information at www.securitybanktn.com/welcome/faqs. Since the privacy and security of our customers’ information is important to Security Bank and Trust Company, Bank of Ripley customers are reminded that Security Bank and Trust Company will never request any sensitive information such as personal data, account or card numbers, user IDs or passwords through unsolicited emails, texts, or phone calls.
Q: Will my products and services change?
A: For the time being, it’s banking as usual for Bank of Ripley customers until the conversion weekend midsummer 2025. Any changes to your products and services will be communicated well in advance.
Q: What about Bank of Ripley checks, debit cards and credit cards?
A: For now, Bank of Ripley customers should continue to bank as they normally would – and that includes using their current Bank of Ripley checks, debit cards, and credit cards. All products and services will transition to Security Bank and Trust Company branded materials after systems conversion tentatively scheduled for midsummer 2025. Any changes will be communicated beforehand. Our goal is to make this transition as seamless as possible for our customers.
Q: Will my Certificate of Deposit (CD) or Individual Retirement Account (IRA) be affected?
A: No. The maturity date, interest rate, and Annual Percentage Yield (APY) of your CD and/or IRA will remain the same. However, if you currently have deposit accounts with Bank of Ripley, the deposit balances will be separately insured from any accounts you may already have at Security Bank and Trust Company for an initial period of six months. This grace period is intended to give depositors an opportunity to restructure deposit accounts if the merger causes a depositor to have funds in excess of the insurance limits at the new institution. The grace period may be applied differently for time and non-time deposits (CD/IRA). Please contact your local branch to discuss any concerns and available options to ensure that your account balances are fully covered.
Q: What about customers with loans from Bank of Ripley?
A: Rest assure that the terms and conditions of your loan will remain the same. Bank of Ripley customers should continue to make loan payments as they currently do. Their statements and other communications will have the Bank of Ripley name until they’re updated with the Security Bank and Trust Company name. Customers should note that payment addresses may change in the future, but this won’t be until later in 2025, and they’ll receive notice in advance from Security Bank and Trust Company.
Q: What should customers do if their contact info has changed?
A: If a current Bank of Ripley customer’s name, address, email or phone number has changed, they should update their information as soon as possible so they’ll be sure to receive all important communications from Security Bank and Trust Company, as well as materials such as new debit cards, checks, etc. They can update their info at any Bank of Ripley office.
Q: What if I have additional question or concerns?
A: Please feel free to contact to your local Bank of Ripley location to speak to a customer service representative.