Frequently Asked Questions
Please find topics and a variety of Frequently Asked Questions below. If you can't find the information you're looking for in these questions, please review the Client Guide or call your local banking professional.
- About NewBridge Bank
- Deposit Accounts
- Safe Deposit Boxes
- FDIC Insurance
- Debit Cards
- Loans and Lines of Credit
- Additional Information
Who is NewBridge Bank, and are there other NewBridge Bank locations? NewBridge Bank is a full-service, state-chartered community bank headquartered in Greensboro, North Carolina. Our Bank traces its roots back to 1910, so just like Security Savings Bank, we have been serving our clients for over 100 years spanning multiple generations.
Prior to partnering with Security Savings Bank, NewBridge Bank had a total of 30 branches in Charlotte, the Piedmont Triad, Raleigh and the Greater Wilmington area. Together, with Security Savings Bank, NewBridge Bank has 36 branches.
We specialize in serving small to midsize businesses, professionals and consumers with a comprehensive array of financial services, including retail and commercial banking, treasury services, private banking, wealth management and mortgage banking.
The stock of NewBridge Bancorp, the Bank’s parent company, trades on the NASDAQ Market under the symbol “NBBC.”
What is the Vision and Mission of NewBridge Bank? Our Vision is to be a high-performing community bank by:
- Understanding and exceeding client expectations
- Supporting our communities
- Providing above average shareholder returns
- Living our Guiding Principles in all that we do
Our Mission is to be the preferred financial partner of small to midsize businesses and retail clients by:
- Using a client-centric, consultative approach
- Growing in markets providing above average results
- Offering credit consistently while balancing risks and returns
- Supporting our clients and employees
- Employing professionals that live our Guiding Principles and are committed to being the best
When will the name change occur? Security Savings Bank will begin operating under the NewBridge Bank name on Tuesday, November 12.
Will NewBridge Bank be actively involved in the community and support charitable organizations? Yes! NewBridge Bank’s Vision includes supporting our communities. In 2012, our banking professionals volunteered over 1,200 hours per month, and the Bank contributed to over 250 local organizations and schools. We look forward to serving Brunswick County and continuing Security Savings Bank’s rich tradition of community involvement.
Will there be changes to my account(s)? Yes, your Security Savings Bank account(s) will transition to the NewBridge Bank account(s) that offer the most comparable benefits and services you’re used to enjoying. Our banking professionals in your local branches are available to review your accounts and make sure you are in the best product(s) for you, your family and your business, and we encourage you to contact them if you have any questions or concerns.
Will my deposit account numbers remain the same? The majority of Security Savings Bank’s deposit account numbers will not change. If your account number(s) will change, you will be contacted directly by Friday, October 18.
When will I need to start using NewBridge Bank checks? You can continue using your Security Savings Bank checks. When you need to reorder checks, you will need to order NewBridge Bank checks from our check partner, Harland Clarke. You can order them in person at your local branch; online at www.ordermychecks.com; or toll-free at 800-275-1053.
Will I continue to receive my statements at approximately the same time each month? Yes. Your regularly scheduled statement date will not change.
What do I need to do to ensure that my direct deposit and automatic drafts continue? We will use an internal conversion process to post incoming direct deposits and outgoing automatic drafts to and from your NewBridge Bank deposit account(s) through December 31, 2014. At that time, we will retire the Security Savings Bank routing number and all direct deposits and automatic drafts will need to use the NewBridge Bank routing number.
While your direct deposits and automatic drafts should continue without interruption in the immediate future, we highly encourage you to notify each originator (e.g., your payroll department for direct deposits, your insurance provider for monthly payments) that your bank routing number will change to 053109877 on Tuesday, November 12, 2013.10.
Will Overdraft Security be available at NewBridge Bank? Yes, NewBridge Bank offers a similar service to personal clients called Overdraft Privilege.
If I use Security Savings Bank’s Overdraft Security today, will I qualify for NewBridge Bank’s Overdraft Privilege?
Personal Clients: Yes, you will have $500 of Overdraft Privilege at NewBridge Bank. However, the associated fees and features will change.
- When we pay overdraft items, you will be charged our overdraft fee of $35 for each item, regardless of its amount; however,
- NewBridge Bank will waive the overdraft fee on items of $5 or less or if your account is overdrawn by $5 or less after all items have paid; and,
- We will limit the overdraft fee to six (6) items per day even if there are additional items that overdraw your account on that day.
Business Clients: Unfortunately, we do not offer Overdraft Privilege to business clients, and we will be unable to extend this service to Security Savings Bank’s business clients. In the event you have accessed Overdraft Security and your balance is negative at the time of transition, you will have 30 days from the date overdrawn to bring your account to a positive balance. Moving forward, to avoid unnecessary returned item fees, we encourage you to set up an alternate form of overdraft protection by linking a secondary deposit account or an existing business line of credit to your deposit account(s). If you do not have a business line of credit and would like to apply for one, please contact your local banking professional.
Please note: You can review our entire “Overdraft Privilege Account Disclosure” in our Account Disclosures booklet.
What other types of NewBridge Bank overdraft protection services are available? Other overdraft protection services are available to personal and business clients by linking your checking account(s) to a line of credit, savings, money market or secondary checking account. When necessary, we will automatically transfer funds to your checking account when an overdraft occurs. Your overdraft transfers will be made in $100 increments and a $5 transfer fee will be deducted from your checking account.
Will my safe deposit box move? Since all Security Savings Bank branches will remain open, your safe deposit box will not move.
How much will my safe deposit box cost? Please review our “Retail Banking Fee Schedule” in our Account Disclosures booklet.
Will my deposits continue to be insured by the FDIC? Yes. All of your deposits are still FDIC insured. FDIC insurance covers all deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. For more information or questions regarding coverage, please visit www.fdic.gov/deposit/deposits.
How will the acquisition of Security Savings Bank affect my deposit insurance coverage if I already have deposits at NewBridge Bank? Your Security Savings Bank checking, savings and money market deposits are separately insured from your checking, savings and money market deposits at NewBridge Bank for six months after the legal date of our merger – October 1, 2013. This grace period gives you the opportunity to restructure your accounts, if necessary.
CDs from Security Savings are separately insured until the earliest maturity date after the end of the six-month grace period – April 1, 2014. CDs that mature during this six-month period – October 1, 2013 through April 1, 2014 – and are renewed for the same term, and in the same dollar amount (either with or without accrued interest), continue to be separately insured until the first maturity date after the six-month period. If a CD matures during the six-month grace period and is renewed on any other basis, it would be separately insured only until the end of the six-month grace period.
Where can I obtain more information about FDIC insurance coverage? We encourage you to use EDIE, the FDIC’s Electronic Deposit Insurance Estimator at www.fdic.gov/edie. EDIE lets you know, on a per-bank basis, how the insurance rules and limits apply to your specific group of deposit accounts – what’s insured and what portion (if any) exceeds coverage limits. When using EDIE, make sure to include your deposit accounts from both NewBridge Bank and Security Savings Bank since all of your deposits are now with a single institution, NewBridge Bank.
For additional information regarding FDIC insurance coverage, please visit the FDIC website at www.fdic.gov or call 877-ASK-FDIC (877-275-3342).
Will I receive a new debit card from NewBridge Bank? Yes. On Wednesday, October 16 we will mail you a NewBridge Bank MasterCard Debit Card as a replacement for your Security Savings Bank ATM and/or Visa Debit Card(s). You will need to use your existing Security Savings Bank ATM and/or Visa Debit Card(s) through Friday, November 8. Then, on Saturday, November 9, you can start using your NewBridge Bank Debit Card.
If I currently have an ATM card that is used only for ATM transactions, what type of card will I be issued? We will issue a NewBridge Bank MasterCard Debit Card which you can use to access ATMs and make everyday purchases at millions of retailers worldwide. You can also use your NewBridge Bank Debit Card to avoid unnecessary ATM fees by requesting cash back at participating merchants (like grocery stores, drug stores, gas stations, etc.) when you pay with your Debit Card.
Will my Personal Identification Number (PIN) change for my NewBridge Bank Debit Card? Yes, you will receive a new PIN in the mail two to three days after you have received your NewBridge Bank MasterCard Debit Card. Once you have activated your card, you can change the PIN to your preferred four-digit number.
What will be my personal withdrawal and daily purchase limits for my NewBridge Bank Debit Card?
Personal and Interest Checking Clients: Your daily withdrawal limit will be $750 and your daily Point-of-Sale limit will be $1,000.
Relationship Checking Clients: Your daily withdrawal limit will be $1,000 and your daily Point-of-Sale limit will be $1,500.
If I have authorized automatic drafts using my debit card account number, what do I need to do to ensure these drafts continue to work? You will need to contact the applicable merchants and provide your NewBridge Bank Debit Card account number for all drafts scheduled to occur on or after Saturday, November 9. All automatic drafts prior to this date will still work using your Security Savings Bank Visa Debit Card account number.
Will my loan or line of credit account number(s) change? The majority of Security Savings Bank’s loan and line of credit account numbers will not change. If your account number(s) will change, you will be contacted directly by Friday, October 18.
Where should I mail my loan payments? Please mail your mortgage loan payments to the address below:
100 North Cherry Street, Suite 400
Winston-Salem, NC 27101
Please mail your other consumer and commercial loan payments to the address below:
P.O. Box 867
Lexington, NC 27293-0867
Should I continue to use my coupon book to make payments? After the transition, you will receive monthly billing statements with payment stubs for your mortgage, consumer and/or commercial loan(s); however, you can continue to use your coupons to make loan payments until you have used your last one. We will not reissue a coupon book once you have used your last payment coupon. At that time, please remit all payments using the payment stub from your monthly billing statement.
Can I continue to use my Home Equity Line of Credit and Line of Credit checks? You can continue using your Security Savings Bank checks until you’ve used your last check. At that time, you will need to order NewBridge Bank checks from our check partner, Harland Clarke. You can order them in person at your local branch; online at www.ordermychecks.com; or toll-free at 800-275-1053.
Do I need to do anything regarding my automatic payments related to my loan? No, we will automatically transfer your automatic payments to your loan.
Will my Overdraft Protection line of credit transition to NewBridge Bank? Yes, if you currently have an Overdraft Protection line of credit, your account will transition to NewBridge Bank’s Credit Reserve line of credit. Credit Reserve will continue to automatically transfer funds to your checking account when an overdraft occurs. Your overdraft transfers will be made in $100 increments and a $5 transfer fee will be deducted from your checking account. The Annual Percentage Rate (APR) on your Credit Reserve will not change from the APR on your existing Overdraft Protection. For Credit Reserve, if your payment is 30 or more days past due, you will be assessed a $5 late fee.
Will I continue to get a combined statement featuring my deposit account(s) and my Credit Reserve line of credit (formerly Overdraft Protection line of credit)? NewBridge Bank offers combined statements, but we cannot convert this service from Security Savings Bank to NewBridge Bank. Hence, you will receive statement(s) for your deposit account(s) and a separate billing statement for Credit Reserve. After the transition, we will be happy to re-establish combined statements for you. Simply call your local banking professional to request this service.
Who do I contact for more information about the transition? Please call your banking professionals and your local Security Savings Bank office for more information about the transition.
- Southport, 910-457-7705
- Shallotte, 910-754-4371
- Calabash, 910-579-3595
- Oak Island, 910-278-6022
- Sunset Beach, 910-579-9898
- Boiling Spring Lakes, 910-845-2000
- Smithville Village - Loan Servicing, 910-454-4011
- Operations Center, 910-457-5246 or 800-457-7438
How can I learn more about NewBridge Bank? We encourage you to learn more about NewBridge Bank from the banking professionals in your local Security Savings Bank office. You can also learn more about NewBridge Bank by meeting us on the Web or through social media. Please continue to visit our website; like us on Facebook; and/or follow us on Twitter.