VA Bank Merger Creates Security BreachA bad file that went awry during a bank merger caused a security breach at a community bank in Virginia.
Some Union First Market Bank customers found that their bank account information was accessible to other customers after two banks, Union Bank and Trust Company and First Market Bank, merged on March 22 to become Union First Market Bank. The newly-merged bank is part of Union First Market Bankshares Corp., ($2.94 billion in assets) based in Richmond, VA.
Bank officials say that when online bill-pay accounts were transferred from First Market Bank to Union First Market Bank over the weekend of the merger, a bad file containing information of around 1000 customers was sent. That data then was accessible to some other customers.
The bank worked last week to fix the problem, and representatives say the institution will offer credit checks and identity theft protection to customers impacted by the glitch. According to the bank, its online banking portal -- which was taken offline when the breach was discovered -- is now restored and available to use for all "but a limited number" of customers still affected by the bad file.