Merger FAQ

Frequently Asked Questions About the Merger of Clarkston State Bank and Waterford Bank, NA

Q. What was announced on June 5, 2019?
A. Waterford Bank NA and Clarkston State Bank have entered into a definitive agreement to merge.

Q. Why did both banks decide to take this action?
A. This is an excellent opportunity for both Clarkston State Bank and Waterford Bank to broaden and strengthen their footprint by combining two well-respected community banks whose core values and cultures are similar. By joining the banks together, all our customers will have access to expanded products and services, our shareholders will have the opportunity for increased value and our local communities will continue to be supported.

Q. Who is Waterford Bank, NA and where are they located?
A. Founded in 2007 on the principles of relationship banking, community commitment, legendary service and disciplined fundamentals, Waterford Bank located in Sylvania, Ohio has grown into one of the strongest and most respected community banks in Ohio. With locations in Sylvania, Perrysburg, Bryan and Findlay, Ohio they focus on supporting local businesses in and around their community. They have a talented team of experienced bankers who take relationship banking to the next level. To learn more, visit

Q. How does this merger impact employees and customers?
A. Our priorities throughout this process are our customers and our employees. While we have announced an agreement to merge companies there will be no significant changes until the transaction is closed. Looking forward, the service culture and technology of both organizations is very similar and our employees and customers will see benefits from this merger.

Q. When will I become a Waterford Bank, NA customer?
A. The merger is expected to close by year end of 2019 subject to the satisfaction of customary closing conditions, including approval of the shareholders and the appropriate regulatory agencies. The systems merger will take place sometime in 2020 and you will receive communication prior to any changes to your existing banking relationship.

Q. Will CSB remain active in the community?
A. Absolutely! Waterford Bank has a very strong community commitment similar to Clarkston State Bank. Our financial support and involvement in the local communities has been a key to our success and we plan to continue in that endeavor.

Q. Will there be any branch closures?
A. Clarkston State Bank has two branch locations and we do not expect any changes to our current network. You can expect the same high-level service from the same banking team.

Q. How will the new bank be structured?
A. Waterford Bank intends to leverage the experience and expertise of Clarkston State Bank and will maintain a strong presence in our current community. While the headquarters of the Bank will be in Ohio, Michigan customers will be serviced by their current relationship bankers and retail staff.

Q. How will the merger benefit me?
A. After the system conversion in 2020, you will have access to an enhanced line of products and services such as mortgage loans, higher commercial lending limits and expanded business treasury management services.

Q. How will this affect my FDIC deposit insurance coverage?
A. FDIC insurance coverage will only come into play if you have deposits with both banks and the combined total exceeds the $250,000 FDIC insured limit. Since the markets are in different states we expect that this will not be a concern.

Q. Will I see changes to my Clarkston State Bank account(s)?
A. There will be no changes to your account(s) until the system conversion takes place in 2020. Until then, Clarkston State Bank’s existing account agreements and all other contracts will continue to govern your account(s) and you can continue to bank as usual using your debit card, checks and deposit slips, website and on-line banking. We will notify you in writing well in advance about any changes to your account(s) and services due to the conversion. We are focused on making this a smooth transition.

Q. Will I still be able to use Comerica Bank ATM’s with no service fee?
A. This free service is through an agreement with Comerica Bank, if this should change we will make appropriate adjustments so you can access your funds at a foreign ATM machine with no service fees.

Q. Is there anything I need to do now with my accounts?
A. There is nothing you need to do at this time, until the system conversion sometime in 2020 you can continue to bank as usual.

Q. What should I do if I have additional questions?
A. We realize this merger may generate specific questions. For more information, please contact your Clarkston State Bank relationship officer or management in any of our branches. You can reach us at:

  • Clarkston Office: 248-625-8585
  • Waterford Office: 248-886-0086