SFB Merger Information
Great Things Are Coming Together
We are excited to welcome Jackson County Bank customers to Security Financial Bank (SFB) and anticipate officially merging the two financial institutions sometime during the second half of the year. Both our teams are working diligently to make the transition as smooth as possible for our customers.
We know that Jackson County Bank has a long history as a community bank, and we look forward to continuing that legacy. One of the reasons we found this merger so attractive is that our institutions are very similar. SFB is an agriculture and business-focused community bank. We believe in supporting our local communities through donations, sponsorships and volunteering.
While details are still being finalized, the most important thing for you to know about the merger is that there is nothing you need to do at this time. You can continue to use your Jackson County Bank accounts as you have done in the past. Please be assured that several weeks before the merger we will contact you with more information. In the meantime, we have compiled answers to some frequently asked questions about the merger, which you may find helpful.
As always, if you have any questions or concerns, please contact us at 715-284-5341.
We look forward to serving you!
CEO & President
Frequently Asked Questions
When will the merger happen?
We anticipate Jackson County Bank will be merged with Security Financial Bank (SFB) sometime in the second half of 2021. The third week of August is targeted, but that is dependent upon attaining a data merger with our service provider and regulatory approval.
What do I need to do right now?
There is nothing you need to do right now. You can continue to use your Jackson County Bank account as you have done in the past. We will provide more information to you several weeks before the merger to share any changes impacting you.
Who is the new bank president?
Paul Rudersdorf serves as president and CEO of both Jackson County Bank and Security Financial Bank. With the retirement of John Drace, Heather Diehn serves as the interim branch manager of Jackson County Bank.
How long has SFB been in business?
Security Financial Bank has been a community bank for more than 85 years. Originally founded in Durand, Wisconsin by farmers and business owners, the bank in now headquartered in Eau Claire and has offices in Bloomer, Durand, Eau Claire, Ladysmith and River Falls.
What will the merger mean for the community?
SFB is committed to investing in the communities we serve. Last year, SFB supported more than 140 local organizations through donations and sponsored events. In addition, many of our employees serve on the Board of Directors and volunteer for area non-profit organizations. We enjoy volunteering in area classrooms teaching financial literacy programs and offer scholarships to area high school students each year. We look forward to continuing our community involvement in Jackson County as well.
What programs do you have available?
After the merger, all SFB products and services will be available to JCB customers. We will send all JCB customers information about these products in advance of the merger.
Will our account numbers on our loans change?
While it is not likely that your account numbers will change, we will certainly notify you if there is a situation that would require the number to be altered.
Will the routing and account numbers on my checking and saving change?
The routing number allows financial institutions to trace where the money is coming from and where it is going, so as not to confuse one bank from another. After a bank merger, routing numbers can be rerouted to another financial institution for a period of time. But, you will eventually need to change to Security Financial Bank’s routing number.
The account numbers may change as well if there is a duplicate account number already with Security Financial Bank. We will notify you if this occurs.
How many checks should I order and if I order too many when is the cut off for them to stop working?
We suggest ordering enough checks for at least the next six months. Typically after the merger, the checks can still be used for another year giving you plenty of time to use your supply.
Will all the branches stay open?
Each of our branch locations was analyzed for profitability and potential for growth. Loan and deposit levels and trends, transaction activity, service charge income, and other factors were reviewed. After careful thought and analysis, it has been determined that our branch locations in Hixton, Merrillan and Taylor do not contribute sufficiently to the over-all profitability of the bank and will be closing permanently on May 21, 2021 at the close of our normal business day at 5:30 p.m.
Will the phone number stay the same?
Yes, the phone number for all locations will remain the same.
Will the hours change?
At this time, we do not anticipate the hours of operation to change; however, we routinely assess the needs of our customers and make changes to our hours accordingly.