Mad River Union
ARCATA – The Arcata Plaza branch of the Bank of America will close next year, but immediately re-open as a branch of Chico-based Tri-Counties Bank. B of A branches in Eureka and Fortuna will also change over to Tri-Counties Bank.
Existing accounts will switch over to the new bank following completion of the sale on March 18, 2016, pending expected regulatory approval. These include checking, savings, IRAs and CDs, safety deposit boxes and some loans.
Not included in the switchover are credit cards, mortgages, merchant service accounts, small business loans and various investment accounts.
Current B of A employees will be rehired by Tri-Counties bank to help ensure a “smooth customer transition,” according to a press release.
“We look forward to welcoming our new customers and employees to our expanding branch network along the North Coast communities of Northern California,” stated Rick Smith, Trico Bancshares president and CEO. “This acquisition provides a great opportunity to expand our current branch network to better serve customers and further strengthens our abilities to offer competitive banking products and services throughout the North State.”