March 28, 2024

First Newton National Bank to change name to FNNB

First Newton National Bank has announced effective June 30, the bank will formally change its name and be known as FNNB Bank. Since the conception of the bank in 1882 there has been only two other name changes, the most recent being 1977.

This name change is necessary because the bank will now be a state-chartered institution and cannot have “national” in its legal name. Currently, the bank is nationally chartered and regulated by the Office of the Comptroller of the Currency (OCC), in Washington D.C. Going forward, the bank will be regulated by the Iowa Department of Banking, located in Des Moines. This transition to a state-chartered institution will not change any of the functions of the bank; the bank will still be operated as a full service financial institution offering all of the existing products. The transition could in fact allow the bank to expand its services from what it’s able to offer as a national bank.

What does this mean to customers? Customers should see no change in the functionality of the bank. Ownership of FNNB will be the same as it was previously. The bank will have the same exceptional staff in place to serve the customers as it has previously, said Rob Kahn, executive vice president.

“We’re trying to make this as much of a seamless transition on our customers as possible. Local decision making from local management will still be a staple of the bank’s functionality,” Kahn said. “Bank customers do not need to worry about account numbers changing, debit cards changing, or routing numbers changing — the only difference will be once you are out of checks or your debit card has expired it will simply say ‘FNNB Bank’ instead of First Newton National Bank.”

The Bank’s FDIC Insurance coverage for its account holders will remain the same as it is currently, he said. Bank ownership and management feel this will better align the bank for current and future community banking needs.

“This transition is happening around the state of Iowa with other community banks as well, and we feel this will continue to allow us to service our customers to the standard we always have,” Bank President Gary Kahn said. “FNNB will still be Newton’s only locally owned and operated bank. That has not changed nor has the commitment to our valued customers.”

Find out more information on the bank's website at www.firstnnb.com or by calling 641-792-3010.