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Welcome Timberwood Bank Customers!

On May 18, 2020, Timberwood Bank officially opened as Bank First! This is an exciting transition as we unite two organizations with a shared commitment to relationship-based community banking. We’re committed to making your transition to Bank First smooth and stress-free. That’s why we’ve put together a dedicated team of individuals to assist with any questions or concerns you may have. 

Questions? Please call 920-652-3100 during regular business hours.

Important Dates

May


Get to Know Bank First

While the name of your bank will change from Timberwood Bank to Bank First, one thing will not change – our commitment to providing the personalized service and attention you deserve as we meet your banking needs and help you reach your financial goals. When you transition to Bank First, you can expect to see the same friendly faces who have served you at Timberwood Bank over the years. While this transition may seem a little different at first, we are still the same community-centered bank with people you know and trust. Plus, you will have access to a broader range of innovative products and services that are value driven.


Press Releases

May 18, 2020  |  Bank First completes merger with Tomah Bancshares, Inc. (Timberwood Bank)

April 24, 2020  |  Bank First receives approval from Tomah Bancshares shareholders to merge with Timberwood Bank

February 28, 2020  |  Bank First receives regulatory approvals for upcoming merger with Timberwood Bank

November 20, 2019  |  Bank First Signs Definitive Agreement to Acquire Timberwood Bank


Highlights of our Merger

We are excited about this partnership between Timberwood Bank and Bank First. The two institutions offer a diverse set of competencies that when combined, result in a stronger organization. Here are a few other highlights about this transaction:

  • Brings together two strong organizations focused on relationship banking with a shared commitment to the communities they serve
  • Strengthens Bank First’s market share in Monroe County
  • Benefits Timberwood Bank customers with enhanced products and services
  • Timberwood Bank’s SBA Preferred Lender status enhances the expertise in commercial lending
  • Preserves community banking through continued support of local causes benefitting the local economy
  • Provides greater access to capital to finance additional business growth in Tomah

Frequently Asked Questions

General Questions

When will Timberwood Bank become Bank First?
The merger will occur over the weekend of May 16, 2020. The Timberwood Bank office will close after normal business hours on Friday, May 15. Timberwood Bank will not be open on Saturday, May 16, 2020, but will re-open as Bank First on Monday, May 18, 2020.

Can I go to a Bank First location for banking transactions?
For services related to Timberwood Bank accounts, you should continue to visit Timberwood Bank until conversion on May 18, 2020. After conversion, you can visit any Bank First location.

Will I be able to access my accounts during the conversion to Bank First?
While we have worked diligently to ensure you have a smooth transition to Bank First, there will be a brief period from Friday, May 15 at 1:00 P.M. to Sunday, May 17, when you will be unable to fully utilize your accounts. During this timeframe, you will be able to view your existing Timberwood Bank accounts online; however, you will not be able to make transfers or complete other actions.

Do I need to re-enroll in Bank First’s online banking and mobile banking?
No, you will not need to re-enroll in online banking. Your current online banking profile with Timberwood Bank will transfer over to Bank First. Please refer to the Online and Mobile Banking Guides on pages 14 and 15 for more information.

Will the Timberwood Bank ATM be available during conversion weekend (May 16 and 17)?
Yes, the Timberwood Bank ATM will be converted during the weeks prior to the merger. The ATM may be interrupted intermittently while the conversion takes place.

Will the Timberwood Bank phone number change?
No, you will still be able to contact your off ice at (608) 372-2265.

Will the statement date for my accounts change?
Yes, the statement date for your accounts will change. You will receive your last Timberwood Bank statement as of May 15, 2020. Personal statements for your new Bank First account will be processed on the 15th of each month, starting June 15, 2020. Business statements for your new Bank First account will be processed on the last day of the month, starting May 31, 2020.

Who should I contact if I have questions with my account?
Please call (608) 372-2265 or our Customer Care line at 920-652-3100 for questions regarding your account. You may also email us at info@bankfirstwi.bank, and a representative will respond during regular business hours.

What is the routing number for Bank First?
The routing number for Bank First is 075901134. The routing number for Timberwood Bank will continue to
work for at least one year aft er the merger.

Can I use my Timberwood Bank checks after the merger?
Yes, you may continue using your Timberwood Bank checks aft er the conversion of your account. Once you run out of checks, you may order new ones under the Bank First name via our website at www.bankfirstwi.bank or contact your local office.

What will happen with my Timberwood Bank credit card?
There will be no changes to your Timberwood Bank credit card at this time. Timberwood Bank credit cards have and will continue to be serviced by TCM Bank.

Will my branch hours stay the same?
Yes! Your branch hours will remain the same. Please visit us online at www.BankFirstWI.bank for a complete listing locations and hours.

Electronic Banking

What is the Bank First website?
Bank First’s website is: www.bankfirstwi.bank. After 5:00 PM on Friday, May 15, the Timberwood Bank website will be redirected to the Bank First website. Should you need to reference the information in this Welcome Guide, you can visit our website at any time for a quick reference.

How do I log into my online banking?
Please see instructions on pages 14 and 15 of this guide for complete details.

What will happen to my Bill Pay account?

  • Personal -  Timberwood Bank’s Bill Pay will remain active until Friday, May 15 at 5:00 P.M. At this time, Bill Pay will be disabled until Bank First’s Bill Pay system becomes available on Sunday, May 17. Bill Pay data converted from Timberwood Bank to Bank First will include customer profile information, bank account(s), payees, future dated payments, recurring payments, history, and account-to-account transfer payments. However, person-to-person (PopMoney) information will not convert.

  • Business - Timberwood Bank’s Business Bill Pay will remain active until Friday, May 15 at 5:00 P.M. At this time, Business Bill Pay will be disabled until Bank First’s Business Bill Pay system becomes available on Monday, May 18 at approximately 12:00 P.M. All payee information you currently have set up with Timberwood Bank will convert to Bank First; however, future dated payments, recurring payments, history, and account-to-account transfer payments will not. Any history needed from Timberwood Bank’s Business Bill Pay should be printed prior to conversion. All recurring payments must be re-established within the platform.

Will I continue receiving e-statements if I am currently enrolled with them at Timberwood Bank?
Yes, if you are currently enrolled in e-statements you will continue to receive e-statements through online banking. There is no need to re-enroll. However, you will receive a final statement from Timberwood Bank on paper dated May 15, 2020.

What will happen to Telebanc (telephone banking)?
Timberwood Bank’s Telebanc will remain active until 5:00 P.M. on Friday, May 15. Telebanc will become available on
Sunday, May 17 under the Bank First name and number: 1-800-676-7535.

Personal Banking

Will there be changes to my personal deposit accounts?
The current names, features, and benefits of your Timberwood Bank deposit accounts will be converted to similar Bank
First deposit accounts. We are excited to off er additional benefits and services with these new accounts. Please refer to
the “Important Account Changes” section on page 6 of this Welcome Guide for more information.

Will automatic transfers, automatic loan payments, and direct deposits continue to work?
Direct deposits will continue to be deposited directly into your account. Automatic payments that are set up using a routing number and checking or savings account number (ACH) will continue to work. If payments were set up via your
debit card, those will need to be updated with your new debit card information prior to May 15.

Will my account number(s) change?
In almost all cases, account numbers will remain the same. There are a small number of duplicate account numbers
between the two banks. We have worked with these customers prior to the merger to change those account numbers.

Will the service charges associated with my account change?
Depending on your account, your service charges may change. Please review the Bank First checking and savings account products on pages 7 - 9 of this guide as well as the accompanying disclosures for specific information.

Will the interest rates and terms on my CDs and IRAs remain the same?
Your Timberwood Bank CD or IRA will not automatically renew. You will receive a notice of non-renewal approximately 30 days in advance of the maturity date. At that time, you will be contacted to discuss your renewal options. New account documentation and disclosures will be provided thereafter.

What happens if I have a Health Savings Account?
Your existing Health Savings Account will be transferred to Bank First. You may continue to use your existing HSA checks. A Bank First HSA debit card will be sent to you prior to May 15.

Personal Loans

Will the merger aff ect my existing Timberwood Bank loan?
No changes will be made to the payments, interest rates, or other terms of your existing loan until maturity with
the exception of DDL (demand deposit loans). The APR on your Demand Deposit Loan (DDL) at Bank First will
18%. DDLs transfer the exact dollar amount of your overdraft to your checking account. Deposits to your checking
account will automatically payback the principal of your DDL plus interest. If no deposit is made, a payment of
5% of the outstanding balance plus interest will be due on the date of your checking account statement. There
will be a grace period of six days.

Will my loan number change?
No. Your loan number will remain the same.

Will my loan statement change?
Yes. Mortgage loan customers will begin receiving a monthly loan billing statement from Bank First. If you currently
receive a statement with your installment loan, you will start to receive one from Bank First aft er the conversion.

Will I be able to continue using my loan coupons when I submit my loan payment?
No. You will not be able to use your existing coupons aft er your transition to Bank First for your mortgage. You
may request coupons for installment loans.

Where do I mail my loan payments made on or aft er May 15, 2020?
Payments can be made at or mailed to any branch location. We recommend setting up automatic payments or
making payments via online banking for your convenience.

Can I still view my loan and make a loan payment online?
Yes. You will be able to view your loans and make loan payments online.

My loan payment is automatically deducted from my deposit account. Will that service continue?
Yes. Automatic payments will continue as usual, on the same schedule.

Who will be servicing my loan?
Bank First services a vast majority of our loans locally. You can expect to receive exceptional customer service
and personal attention from the same friendly faces you’ve come to know at Timberwood Bank.

Will decisions about my loan continue to be made locally?
Absolutely! As an independent community bank, loan decisions will still be made locally by the same dedicated
team of bankers who live and work in the communities we serve.

What will happen with my property tax escrow?
You will receive your property tax escrow check by December 21, 2020, and will be responsible for bringing the
check to your local municipality for payment. There are ACH options where Bank First will pay your taxes directly
to your local municipality. More information about this program will be sent via a letter later in the year.

What is happening to my loan application?
Any application taken prior to May 15, 2020, will continue to be processed by Timberwood Bank. Any application
taken on or aft er May 16, 2020, will be processed by Bank First.

Business Banking

Will there be changes to my business deposit accounts?
The current names, features, and benefits of your Timberwood Bank deposit accounts will be converted to similar Bank First deposit accounts. We are excited to offer additional benefits and services with these new accounts. Please refer to the “Important Account Changes” section on page 6 of this Welcome Guide for more information.

Will automatic transfers, automatic loan payments, and direct deposits continue to work?
Direct deposits will continue to be deposited directly into your account. Automatic payments that are set up using a routing number and checking or savings account number (ACH) will continue to work. If payments were set up via your debit card, those will need to be updated with your new debit card information prior to May 15.

Will my account number(s) change?
In almost all cases, account numbers will remain the same. There are a small number of duplicate account numbers between the two banks. We have worked with these customers prior to the merger to change those account numbers.

Will the service charges associated with my account change?
Depending on your account, your service charges may change. Please review the Bank First checking and savings account products on page 7 of this guide as well as the accompanying disclosures for specific information.

Will the interest rates and terms on my CDs and IRAs remain the same?
Your Timberwood Bank CD or IRA will not automatically renew. You will receive a notice of non-renewal approximately 30 days in advance of the maturity date. At that time, you will be contacted to discuss your renewal options. New account documentation and disclosures will be provided thereafter.

What happens if I have a Health Savings Account?
Your existing Health Savings Account will be transferred to Bank First. You may continue to use your existing HSA checks. A Bank First HSA debit card will be sent to you prior to May 15.

Business Loans

Will the merger affect my existing Timberwood Bank loan?
No changes will be made to the payments, interest rates, or other terms of your existing loan until maturity with the exception of DDL (demand deposit loans). The APR on your Demand Deposit Loan (DDL) at Bank First will 18%. DDLs transfer the exact dollar amount of your overdraft to your checking account. Deposits to your checking account will automatically payback the principal of your DDL plus interest. If no deposit is made, a payment of 5% of the outstanding balance plus interest will be due on the date of your checking account statement. There will be a grace period of six days.

Will my loan number change?
No. Your loan number will remain the same.

Will my loan statement change?
Yes. Business loan customers will begin receiving a monthly loan billing statement from Bank First. If you currently receive a statement with your installment loan, you will start to receive one from Bank First after the conversion.

Will I be able to continue using my loan coupons when I submit my loan payment?
No. You will not be able to use your existing coupons after your transition to Bank First.

Where do I mail my loan payments made on or after May 15, 2020?
Payments can be made at or mailed to any branch location. We recommend setting up automatic payments or making payments via online banking for your convenience.

Can I still view my loan and make a loan payment online?
Yes. You will be able to view your loans and make loan payments online.

My loan payment is automatically deducted from my deposit account. Will that service continue?
Yes. Automatic payments will continue as usual, on the same schedule.

Who will be servicing my loan?
Bank First services a vast majority of our loans locally. You can expect to receive exceptional customer service and personal attention from the same friendly faces you’ve come to know at Timberwood Bank.

Will decisions about my loan continue to be made locally?
Absolutely! As an independent community bank, loan decisions will still be made locally by the same dedicated team of bankers who live and work in the communities we serve.

What will happen with my property tax escrow?
You will receive your property tax escrow check by December 21, 2020, and will be responsible for bringing the check to your local municipality for payment. There are ACH options where Bank First will pay your taxes directly to your local municipality. More information about this program will be sent via a letter later in the year.

What is happening to my loan application?
Any application taken prior to May 15, 2020, will continue to be processed by Timberwood Bank. Any application taken on or after May 16, 2020, will be processed by Bank First.

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