One bank. One purpose. More powerful together.
We are pleased to announce the merger of two historic community banking companies, Touchstone Bank and First Bank. On October 1, 2024, Touchstone Bank founded in 1906, and First Bank, headquartered in the Shenandoah Valley and founded in 1907, joined together to expand and improve services for our customers, businesses, municipal partners, and the non-profit organizations that make our communities better!
By joining the strengths of our relationship bankers, we will deliver the high-touch service you have come to expect from your local bank. By combining the best of our systems, we will deliver today’s technology for superior convenience and service. We truly believe this is an excellent opportunity that will benefit our customers and communities.
We are excited to join two companies together that share the same philosophies, and we will remain focused on you, our customer.
When will this merger take place?
On October 1, 2024, Touchstone Bank merged with First Bank.
Will the name of the bank change? If so, when?
Yes. After Touchstone Bank accounts transition to the First Bank system in early 2025, the combined bank will operate under the First Bank name.
How will this merger benefit me?
By bringing our two great companies together as one, we will be able to offer an expanded branch and ATM network, plus additional products and services.
Will our current locations and hours change?
No. There are no plans to close any Touchstone Bank locations or modify any existing hours of operation at this time.
Will any of my account numbers change?
No. At this time, your Touchstone Bank checking account number will remain the same. In the event your account number has to change, we will notify you well in advance and assist you every step of the way. Please continue to use your debit card, checks, and other account services as you normally would.
How will this merger impact my checking accounts?
Until Touchstone Bank transitions to the First Bank system in 2025, your Touchstone Bank account will remain the same. Prior to that date, we will keep you informed of any changes that may impact you, including changes to account numbers, debit cards, and online and mobile banking access.
Will I need to order new checks?
No. For now, continue to use your current Touchstone Bank checks. If you need to reorder, any member of the Touchstone Bank team will be happy to assist you.
Do I need a new debit/ATM card?
Please continue to use your Touchstone Bank debit/ATM card. When we merge our systems in 2025, you will receive a new First Bank debit/ATM card. We will notify you in advance of the arrival of your new card.
Will I have to set up a new username and password for Online and Mobile Banking:
No. Touchstone Bank Online and Mobile Banking, including Bill Pay, will continue to operate as normal. Please continue to use your existing username and password to access these services. When we merge our systems in 2025, you will be asked to set up a new username and password. We will notify you in advance of this change and will help you with the process.
Will the recurring transactions set up with my existing debit card continue to be authorized?
Yes. Debit card services will not change or be interrupted. When we merge our systems in 2025, you will re-establish recurring transactions with your new debit card. We will notify you in advance of this change and assist you through the process.
Will I need to change my direct deposit and/or automatic draft transactions?
No. You will not need to make any changes to your current arrangements. All direct deposit and automatic draft arrangements, such as Social Security benefits, payroll deposits, and loan payments will continue to be processed.
How will this merger impact my existing CDs and loans?
The terms of your CDs and loans will remain the same through the maturity date.
Where should I send my loan payments?
Loan payments can continue to be made online, at any of our Touchstone Bank branch offices, or through the mail.
Will my loan payment and/or due date change?
No. The terms of your loan, including payment amount and due date, will not change.
Will I continue to work with the same familiar faces that I bank with today?
Yes! We know our teammates are our most important asset, and you will continue to see the same familiar faces in your favorite branch.
Will First Bank continue to be involved in my community?
Yes! Our banks share the same philosophy of community involvement. We are committed to providing support to all the communities we serve.
When can I begin using the First Bank branch offices?
Once we merge our banking systems in 2025, we will be able to provide you with service at all First Bank branches.
How will the merger affect my FDIC coverage?
If you have accounts at both Touchstone Bank and First Bank, deposits at Touchstone Bank will be separately insured from deposits at First Bank for at least six months after the merger date of October 1, 2024. Certificates of Deposit (CDs) from Touchstone Bank are separately insured until the earliest maturity date after the end of the six-month grace period. CDs that mature during the six-month period 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 for any other term, it would be separately insured only until the end of the six-month grace period. If you have any questions about FDIC coverage, any member of our branch team will be happy to assist you.
How will this merger impact the bank’s privacy policy?
For First Bank’s most recent privacy policy, please visit the bank’s website at www.fbvirginia.com.
How will future details about this merger be communicated to me?
Any changes affecting you will be communicated by mail in advance, and information will be posted on our webpage dedicated to merger information at www.fbvirginia.com/faqs.
Customer Communication
October 1, 2024 - Customer Welcome Letter