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CARES Act: Payroll Protection Program

Information for Small Businesses that Have Been Affected by COVID-19

The Coronavirus Aid Relief and Economic Security (CARES) Act provides one of the largest stimulus aid packages to individuals and businesses in the nation’s history. The CARES Act includes the Paycheck Protection Program (PPP), a $349 billion business loan program that offers relief measures to small businesses, primarily to keep employees on payroll and cover other stipulated business expenses. On Friday, April 24, new legislation was signed into law that provides an additional $310 billion into PPP.

The Paycheck Protection Program ended Tuesday, June 30. Over the length of the program, Security Bank, now American Momentum Bank approved over 1,505 applications representing $268.6 million of PPP loans. We are now continuing to gather information to help our clients through the forgiveness request phase of the program.

PPP Loan Forgiveness

American Momentum Bank is not accepting PPP Loan Forgiveness Applications at this time. However, our team is sponsoring a series of webinars to provide you with additional information about the PPP Forgiveness Phase and to answer any questions you may have regarding the program. To view past recordings of the webinars as they come available, please click on the links below:
Please note that we cannot provide counsel concerning the forgiveness provisions of the PPP. It is recommended that you consult with your attorney and/or CPA as more guidance is made available by the SBA. You may also visit the website for the U.S. Department of Treasury for more information.
 
Thank you for continuing to choose us as your financial partner, and please, contact your American Momentum Bank (former Security Bank) commercial lending officer if you have any questions. Also, continue to monitor this webpage, as we will update it with any changes.

Banking Center Safety Meaures

At American Momentum Bank, the health and safety of our employees, clients and communities we serve are of the utmost importance to us. We continue to monitor the coronavirus (COVID-19) situation closely and look to the Centers for Disease Control Prevention (CDC) for guidance.

Temporary change to Savings and Liquid CD Money Market Accounts

In response to the COVID-19 pandemic, the Bank will waive all excessive transaction fees on Savings and Liquid CD Money Market accounts from May 1, 2020, to July 31, 2020.

Banking Center Lobbies

Our banking center lobbies are now open. In order to maintain a safe and healthy environment for our clients and Bank associates, we are taking the following safety measures inside our banking center lobbies:

Social Distancing - We ask that you please practice social distancing of at least six feet from others.

Face Masks – We encourage you to wear a mask, however, we may ask that you remove it temporarily for identification purposes.

Plexiglass Shields – We have implemented the use of shields at our teller windows for your protection.

Sanitation Measures – We are regularly sanitizing common areas and have implemented the use of cleaning materials recommended by the CDC.  You will also find hand sanitizer for your use.

We apologize for the inconvenience.  If you are uncomfortable with any of our safety measures, please feel free to utilize our drive-thru services. 

Additional Ways We Continue to Serve You

In addition to utilizing our drive-thrus, you will continue to have access to your accounts through the following methods:

Online Banking: Our online banking platform is available to you 24-hours a day and offers a full suite of services for all account types. Here, you can view account balances and activity, pay bills, trasfer funds, and set up and monitor account alerts.

Mobile Banking and Mobile Deposit: Mobile banking and mobile deposit are also available via our mobile app.

Remote Deposit Capture: Designed with our business clients in mind, Remote Deposit Capture enables you to deposit checks whenever you choose, and from any location.

Drive-thru Service: A number of our locations also offer drive-thru services, which are an excellent way to visit your local branch while limiting contact with others. To find a drive-thru near you, click here.

For assistance with Online Banking, Mobile Deposit or Remote Deposit enrollment, please give us a call at 888.303.8298 or use the Contact Us form.

Information on Potential Scams

In times of panic and uncertainty, scammers are looking for any opportunity to take advantage of well-intentioned people and perpetrate financial crimes. Please keep your guard up and use extra caution when receiving suspicious emails, text messages and phone calls. Be sure to verify the authenticity of any unsolicited communication you receive and never share your personal information with an unknown party.

Security Bank Acquired by American Momentum Bank 

It's official! Security Bank is now part of the American Momentum Bank family, and we would like to welcome you as a continued client of the Bank.
 
American Momentum Bank is a Texas-based community bank that provides comprehensive products and services for businesses and individuals. The knowledgeable Security Bank bankers you've come to know and trust will continue to serve you as part of the American Momentum Bank team.
 
With a projected systems conversion in October, we look forward to providing you with an expanded array of financial products and services as well as enhanced online banking services that deliver more convenience and ease of banking.
 
For now, please continue to bank as you always have, and we encourage you to check back for updates on the merger. We will keep you informed every step of the way.
 
With questions or for more information, please feel free to visit any of our convenient locations or give us a call at 888.303.8298.
 
To learn more about American Momentum Bank, please visit americanmomentum.bank.