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Last updated: January 26, 2021
The following information was last updated as of the date shown above and may be subject to change in the future. The information presented below will be updated if and as new information becomes available.
First Choice Bank (“First Choice”) has entered into an agreement with Golden Bank, N.A. (“Golden Bank”) whereby Golden Bank will purchase and acquire our Rowland Heights Branch. The sale of the Rowland Heights Branch to Golden Bank is scheduled to be completed with an effective date of the close of business on Friday, January 29, 2021 (“Effective Date”). At the Effective Date, your account(s) at the First Choice Rowland Heights Branch will be converted to the account(s) of Golden Bank. This transition will affect all of your account(s) currently at our Rowland Heights Branch, including but not limited to any checking account(s), online and mobile banking, debit card, savings account(s), and/or Certificate of Deposit & Safe Deposit Boxes. Until the transition is completed, First Choice will continue to service your account(s) under your existing agreement(s) with First Choice, and we will continue to provide you with the high level of service that you have come to expect from us.
From the close of business on Friday, January 29, 2021 through the opening of the branch on Monday, February 1, 2021, the Rowland Heights Branch will be temporarily closed and you will not have access to the branch office during such time. On Monday, February 1, 2021, the Rowland Heights Branch will reopen as a bank branch of Golden Bank, you will become a customer of Golden Bank, and your account(s) will be maintained and serviced by Golden Bank, subject to the terms and conditions of services with Golden Bank.
First Choice and Golden Bank are working together very closely to make this transition as seamless as possible to avoid any delays or disruptions to your services. Attached to this letter is a summary of “Frequently Asked Questions and Answers” relating to the transition of your account(s) from First Choice to Golden Bank and what you can expect. We encourage you to read carefully this attachment and all subsequent communications from First Choice and Golden Bank regarding the transition of your accounts. In the coming weeks, First Choice will send additional communications and information concerning your accounts and the transition of services. You will also be receiving a “Welcome Package” from Golden Bank that outlines what you need to do regarding your account(s) as they are transitioned over to Golden Bank, including information regarding Golden Bank’s terms and conditions for services and any applicable fees.
Thank you for entrusting First Choice with your banking and financial needs over the years. We are confident that Golden Bank will continue to provide you with the high level of service that you have come to expect from us. Should you have any questions, please do not hesitate to contact us at RHQuestions@FirstChoiceBankCA.com or call (626) 964-3400.
- Reference Documents
1. When will the sale of the Rowland Heights Branch occur?
We anticipate that the transaction will occur at the close of business on Friday, January 29, 2021. We refer to this date as the “Effective Date.” On Monday, February 1, 2021, the Rowland Heights Branch will open as a branch office of Golden Bank and will become known as the “Golden Bank Rowland Heights Branch.”
2. Who is Golden Bank?
Golden Bank was established in 1985 in Houston, Texas to serve the financial needs of its local businesses and communities. As a community bank, Golden Bank provides a full scope of banking services including taking deposits (Checking, Money Market, Savings, Time Deposits, Traditional and Roth IRAs), extending loans (Commercial, Construction, Real Estate, Consumer, and SBA), providing trade finance, online banking, cash management and other banking services to businesses and consumers within its service areas over the past 35+ years.
Golden Bank has four branch offices in the Greater Houston area, two branch offices in the Dallas-Fort Worth area, two branch offices (Alhambra and Tustin) and two Loan Production Offices in Southern California. For a list of branch locations, please visit Golden Bank’s website at www.goldenbank-na.com.
3. What will happen to my Safe Deposit Box(es) at the Rowland Heights Branch?
Until the Effective Date, you will have access to your safe deposit box(es) at the Rowland Heights Branch under the terms of your safe deposit box agreement(s) with First Choice. After the Effective Date, your safe deposit box(es) will be transitioned over to Golden Bank and you will have access to your safe deposit box(es) on Monday, February 1, 2021, when the Rowland Heights Branch opens as a branch office of Golden Bank.
4. Will my deposits continue to be insured by the Federal Deposit Insurance Corporation (FDIC) after they are transferred to Golden Bank?
Yes. Like First Choice, Golden Bank is a member of the FDIC. Accordingly, all eligible customer deposit(s) will continue to be insured up to the FDIC’s standard maximum insurance coverage amount. For more information, please visit www.fdic.gov.
5. Can I continue to use my checks from First Choice?
Prior to the Effective Date, you can continue to use your First Choice issued checks. In the coming weeks, Golden Bank will be sending you the replacement checks containing the Golden Bank account and routing information, so that you can begin to use Golden Bank issued checks after the Effective Date. Additional information will be provided by Golden Bank in the upcoming “Welcome Package.”
Any outstanding First Choice Bank checks issued prior to the Effective Date will be honored by Golden Bank for a limited period.
6. What will happen to my First Choice online and mobile banking access?
You will continue to have access to the First Choice online and mobile banking until the Effective Date. During this time, we encourage you to download any statements, documents, and/or check images that you may need. Consumer online banking access will be unavailable after January 29, 2021. Business online banking access will be extended for a short period following the Effective Date. Additional correspondence will be provided by First Choice.
Golden Bank will provide instructions on how to register for online and mobile banking services.
7. Will my automatic or scheduled transactions (e.g. internal transfer, bill payments, ACH, wire transfer) at First Choice be moved to Golden Bank?
No. Any automatic or scheduled transactions that you set up for your account(s) with First Choice will not be automatically transferred to Golden Bank. Accordingly, on or after February 1, 2021, you will need to re-enroll and re-establish scheduled and recurring transactions for your account(s) through Golden Bank. More information will be contained in Golden Bank’s “Welcome Package.”
8. What will happen to my First Choice VISA® debit card?
You will continue to have access to your First Choice VISA® Debit Card. Additional information regarding debit card closures will be provided in upcoming communications.
Golden Bank will include in its “Welcome Package” instructions regarding the reissuance of a Golden Bank-issued VISA® debit card.
9. What are Golden Bank’s hours of operations?
Golden Bank Branch Hours
Monday – Thursday: 9:00 AM – 5:00 PM PST
Friday: 9:00 AM – 5:30 PM PST
Saturday: 9:00 AM – 1:00 PM PST
Golden Bank Customer Service Center Hours (888) 320-3838
Monday – Friday: 7:00 AM – 5:00 PM PST
Saturday: 7:00 AM – 1:00 PM PST
10. Who should I call if I have any questions?
Should you have any questions, please contact First Choice at RHQuestions@FirstChoiceBankCA.com or call (626) 964-3400.
The contact information for Golden Bank is also below for your reference.
Phone: (888) 320-3838