We hope the Q & A below helps clarify some of the questions we have heard in the branch and throughout the community about the upcoming merger of Commodore Bank and North Valley Bank.
If you have additional questions, please just let us know!

When will the bank's name change?

While the official date has not fully been set, we estimate the name change to North Valley Bank will occur in mid to late October 2024. With that being said, our core systems will not convert until November 2024.

When will we stop using Commodore Bank cards and checks?

Commodore customers will see signage in branches and receive notices via mail 45-60 days prior to system conversion in November about discontinuing the use of Commodore Bank cards and checks. At that time, you will receive your new cards and checks. Both banks will be working to convert your information and ensure a smooth transition for you. Until then, bank as you always do.

Who do I call with questions or concerns?

For now, call your representatives at Commodore Bank at 888-347-4355. It is business as usual, and we are happy to address your concerns!

Will my account number change?

With the exception of a limited number of customers, your account number will more than likely remain the same! As we approach the conversion date in November, we will be in touch about updating online banking and bill pay. Until then, keep banking as you always do!

Do I need to do anything with direct deposits or bill pay?

Once the core conversion occurs in November, you may need to make some updates, but those changes will not occur until November 2024. You will see in branch notification and receive mail notice about the effective date needed for updates. We will also have staff available in branch to assist with updating your online banking and bill pay. Until then, no changes needed!

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Loan Q and A

When will I officially become a North Valley Bank customer?

You will officially become a North Valley Bank customer after the legal acquisition date on or around August 1, 2024 (date is tentative based on regulatory approval). We will be combining the operating systems of Commodore Bank and North Valley Bank on November 2, 2024. We will provide ample notice of the systems merger and any limited impact it may have on your banking.

Is there anything I need to do right now?

No action is needed on your part at this time. Continue to bank as usual at your Commodore Bank locations.

Will there be any change in how I make my loan payment?

Right now, no - continue to send your payments to the current Commodore Bank address you have been using. If you pay in person, continue to make your payments at your current banking office. When that changes, you will be given ample notice.

Will there be modifications to my loan?

For example, will my loan number change? Between the legal acquisition date and the systems merger on November 2nd nothing will change; however, once the computer systems of Commodore Bank and North Valley Bank merge there may be some change in terms and conditions. Your rate, principal & interest payment, and the term of your loan will remain the same. An example of a terms and conditions change would be if your loan number is identical to the loan number of an existing North Valley Bank account, you will receive a new loan number. If there is a modification to your loan, you will receive a Change in Terms Notification no later than 45 days prior to November 2nd.

I have my loan payment set up to automatically pull from my account. Will this change?

At this time, your payment will still pull and post to your loan account. If any change in terms or conditions occurs to your loan account, you will receive a Change in Terms Notification no later than 45 days prior to November 2nd.

How will tax reporting be handled with the form 1098?

Interest paid in 2024 on all Mortgage Real Estate Loans will be reported by North Valley Bank. You will receive the 1098 form no later than January 31, 2025.

Where do I call to get a loan payoff?

It’s business as usual, so for now please call the loan department at Commodore Bank at 888-347-4355.

If I switch insurance providers, who do I contact and send the updated policy to?

Lienholder updated? If you switch insurance providers after the legal acquisition date in August, you will need to make North Valley Bank the mortgagee. The mortgagee clause is North Valley Bank, ISAOA/ATIMA, P.O. Box 1115, Zanesville, OH 43702-1115. Please send the updated policy to Commodore Bank’s loan department at 100 E Main Street, Somerset, OH 43783. After November 2, 2024 all insurance correspondence should be sent to North Valley Bank, loan operations department, P.O. Box 1115, Zanesville, OH 43702-1115.

If I have questions about my escrow account, who do I contact?

Between now and November 2nd nothing will change, and you can continue to contact the loan department at Commodore Bank, 888-347-4355.

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