Bank president and CEO Ryne Seaman with Cattle Bank and Trust announced Dec. 28 that the bank was converting to a state-chartered bank. Pictured are, from left, Director of Banking and Finance Mark Quandahl, Cattle Bank and Trust Board Chairman John W. Cattle, Jr., Board Member Roger Cattle, Board Member Virginia Cattle, Vice President and Board Member Becky Vahle, and Seaman.
It was a historic moment for one local bank last week. The Cattle National Bank and Trust Co. announced it was converting from a nationally chartered bank to a state-chartered bank, effective Dec. 29.
One of the most visible changes the community will see with this change is a new name, Cattle Bank & Trust.
“What won’t change is our commitment to you as a customer and the communities that we serve,” Ryne Seaman said about the 145-year-old bank. “This transition, we believe, is a better fit long-term for the bank as we look to continue the tradition of service to customers and communities.”
Seaman said as the conversion takes place, there will be new signs and a new logo.
“But most importantly remember that everything else about us, the ownership, people, products and services, will remain unchanged. This is what we mean by tradition you can trust,” Seaman said.
The bank decided the conversion from a national to a state charter is a better fit for the bank long-term.
“Incidentally, over 80 percent of the banks in the state of Nebraska are state-chartered and 36 banks have converted from a national charter to a state charter over the past 15 years, which is exactly what we are doing. Many of these banks that have converted are community banks like ours and we believe there is strength in these numbers,” Seaman said.
Seaman said all checks, deposit slips, debit cards, credit cards, PINs, usernames and passwords will continue to work after the conversion just as they did prior to the conversion. These items will be changed over to the new name and logo as they need to be replaced or expire.
