Thumb National Bank Switches Charters

On December 14th, 2017 Thumb National Bank and Trust Company received final approval to switch from a national charter to a state charter bank.

According to bank President & CEO Jay Dubey, “Switching back to a state charter bank makes total sense for us. As a state bank we feel our regulators will be more attuned to the complexities and cycles that occur in our local economy, especially agribusiness. Their expertise and attention to Michigan community banking issues will be extremely beneficial going forward.” Dubey also added, “Another benefit will be a significant reduction in regulatory and examination fees resulting in the potential for increased earnings for the bank.” The bank’s new state charter will become effective December 18th, 2017.

Switching charters will have no impact on customer account activity. The only required change will be the name of the bank. According to Dubey, “The word ‘National’ must be omitted from our existing name. Therefore, our new name will simply be, ‘Thumb Bank & Trust’. We determined it was important to retain ‘Thumb’ because it represents who we are and the markets we serve.”

Over the next few months the bank will be changing its signage to reflect the new name change. Once again Dubey emphasizes, “For existing customers, nothing changes. Customers will be able to use up any checks or other documents that still have Thumb National Bank printed on them. In addition, we intend to use this name change as an opportunity to refresh the look and feel of our bank logo, website, and all of our electronic banking channels. Keep an eye out for these exciting changes to begin after the first of the year.”

Thumb National Bank & Trust Co., soon to be “Thumb Bank & Trust”, is a strong, vibrant community bank serving the financial needs of those living throughout the Thumb and Bay regions of mid-Michigan, with locations in Pigeon, Cass City, Caseville, Bay City and Bad Axe.

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