NEW DEPOSIT/LOAN ACCOUNT NOTICE AND AMENDMENT
On October 1, 2026, Marion State Bank was acquired by Gibsland Bancshares, Inc., the bank holding company of Gibsland Bank & Trust Company (“GBT”). As such, Marion State Bank is now GBT. Although the Marion State Bank name may appear on some documents, brochures, the website and the mobile banking app, this amendment and notice document serves to notify you that your account(s) are held by GBT.
There will be a brief period of operational transition during which the two banks will continue to operate under their separate names. This period will end when the separate systems are converted into one common system, which is expected to occur in the first quarter of 2027. Until this transition is complete, customers of the former Marion State Bank will not be able to access their Marion State Bank accounts or conduct transactions on those accounts at GBT locations. Likewise, GBT customers will not be able to access their GBT accounts or conduct transactions on those accounts at former Marion State Bank locations.
You can follow our progress as we transition Marion State Bank to GBT systems later this year by visiting www.gbt.bank/WelcomeMSB.
FDIC INSURANCE COVERAGE
If you are an owner of deposit accounts at both the former Marion State Bank and GBT, you may need to verify the FDIC insurance coverage of your combined balances. Under FDIC rules, deposits you hold at the former Marion State Bank will continue to be insured separately from deposits you hold at GBT for at least six months following the acquisition. This grace period gives you time to restructure your accounts, if desired, if your combined balances exceed applicable FDIC insurance limits. Certificates of deposit from the former Marion State Bank generally remain separately insured until the earliest maturity date after the end of the six-month period. However, special rules apply to certificates of deposit that mature during the six-month period, depending on whether and how they are renewed. After the grace period ends, deposits at both former institutions will be combined and insured together, up to applicable limits, as deposits of GBT.
More information regarding FDIC insurance coverage can be found on the FDIC website:
- FDIC Deposit Insurance: https://www.fdic.gov/resources/deposit-insurance
- FDIC Deposit Insurance FAQs: https://www.fdic.gov/resources/deposit-insurance/faq
- FDIC Brochure: https://www.fdic.gov/resources/deposit-insurance/brochures/documents/your-insured-deposits-english.pdf