According to Billy Gann, PNB President and CEO, the change means that PNB will cease operations as a national bank, and instead will become a state bank.
Peoples National Bank is changing its charter and its name. Effective November 1, 2018, PNB will be a state bank and adopt the new name, PNB Community Bank.
According to Billy Gann, PNB President and CEO, the change means that PNB will cease operations as a national bank, and instead will become a state bank. As a national bank, PNB is regulated by the Office of the Comptroller of the Currency. As a state bank, it will be regulated by the Office of Financial Regulation.
“We are and will continue to be the same bank, with the same owners, the same directors, the same officers, and the same employees,” said Gann in a letter to the bank’s customer’s dated Sept. 24.
Gann said the switch from a national to a state bank prompted the need to change the bank’s name.
“Again, this is simply a name change. Your banking needs will continue to be met with the same level of customer service you have come to expect from your friendly hometown bank.”
Peoples National Bank is located at 1020 John Sims Parkway in Niceville. It has branches in Freeport and DeFuniak Springs.
