Centennial Bank Data Settlement has agreed to pay $5.2 million to individuals who faced data breaches in July 2022 and April 2023. Individuals have to file a claim form to participate in this class action by the deadline of 6 May 2025. The per person payout for our pocket documented loss is $4,000 while eligible claimants will receive a cash payout of $50 on pro rata basis.
Members of the subclass will also be eligible for additional $50. The payout date is not confirmed yet because the final approval hearing is scheduled for May 22, 2025 which decides whether the settlement is fair or not. The claim form is available on the official website to file by interested individuals online or by mail.
Centennial Bank Data Settlement
The Centennial Bank Data Settlement is about the data breaches that occurred in July 2022 and again in April 2023. Centennial Bank has agreed to pay $5.2 million to settle the lawsuit which alleges that the company failed to secure the private data of their customers such as the name, date of birth, Social Security number, driver’s license number, and financial account information.
This settlement which comes on a spot due to the unauthorized access to the private information of consumers is offering claims form to take part in the settlement. The date to file claim form is 6 May 2025 while the exclusion deadline is 7 April 2025. Eligible members are those who received notice about the data breach incident in 2022 and 2023.
Key Dates of Centennial Bank Data Settlement
The key dates of Centennial Bank Data Settlement are crucial for those who want to take part in this settlement class.
| Event | Date | Details |
|---|---|---|
| Claim Form Submission Deadline | May 6, 2025 | Last date to submit a claim to receive a payout. |
| Exclusion Deadline | April 7, 2025 | Deadline to opt out of the settlement. |
| Objection Deadline | April 7, 2025 | Last date to object to the settlement terms. |
| Final Approval Hearing | May 22, 2025 | Court decides if the settlement is fair and final. |
| Expected Payout Date | Late 2025 – Early 2026 | Payments will be issued after the final approval, depending on appeals. |
Centennial Bank Data Settlement Payout Per Person
The total payout amount of Centennial Bank Data Settlement will be $5.2 million. This payout will cover payments of class members, attorney fee, service awards for class representative and administrative costs. This settlement offers two type of payouts for class members which are:
- Documented out of pocket losses: Class members who have faced documents out of pocket loss in one of any data breach can claim up to $4,000. For this, class members have to provide proof which supports their claim.
- Cash Payment: Class members without documented loss can receive a payout of $50 which can be increased or decreased based on pro rata basis. Subclass Members can also receive additional $50 based on the pro rata remaining after the other funds distribution.
Attorney Fees & Administrative Costs
A portion of the $5.2 million settlement will be allocated to legal fees and administrative expenses. Typically, class action settlements set aside 25% to 33% of the total fund for attorney fees. The remaining balance will be distributed among claimants.
- Attorney Fees – Expected to be around $1.3 million to $1.7 million based on standard class action settlements.
- Administrative Costs – Settlement administration, notification, and processing claim forms will also be deducted from the total amount.
Centennial Bank Data Settlement Eligibility Criteria
The eligibility criteria of Centennial Bank Data Settlement is crucial to know for those who want to take part in this lawsuit.
- Class members who have faced data breach incidents and received a notification from Centennial Bank about that data breach during 2022 and 2023 are eligible to participate in this settlement.
- Class members who will submit a claim form by the set deadline will be eligible to get payout after final approval hearing.
- Class members who exclude themselves from the settlement class will not be eligible to benefit further from this settlement.
Step by step Filing Process of Centennial Bank Data Settlement Claim Form
Steps to file a claim form for Centennial Bank Data Settlement are listed below.
- Go to the https://centennialbankdatasettlement.com/ website.
- Locate and then hit the submit claim button.
- Enter your notice ID and confirmation code to get access to your claim form.
- After that, the claim form will appear on your display screen.
- Enter all the required details, such as your first and last name, address, phone number, email address, city, state, zip code, unique ID, etc.
- Attach all the necessary documents that support your claim form.
- Select your payment receiving method from the available options.
- Verify all your entered details and then put out your signature and current date in the required sessions.
- Submit your claim form through the official settlement website online or by mail at Centennial Bank Data Settlement c/o Settlement Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103.
When will the Centennial Bank Data Settlement Payout be issued?
The exact payout date of Centennial Bank Data Settlement is unknown yet, but it is expected that after the final approval hearing that is scheduled for May 22, 2025, at 10:00 a.m. CT, valid claimants will be able to receive their Centennial Bank Data Settlement payout. It’s expected that class members will receive their payouts after one year of final hearing if appeals will no longer run.
How Will You Receive Your Payout?
Eligible claimants can receive their payout through:
✔ Direct Deposit: The fastest and most secure method.
✔ Mailed Paper Check: Sent to the address provided on your claim form.
✔ Prepaid Card: Some settlements offer digital prepaid card options.
Eligible individuals will be able to receive their Centennial Bank Data Settlement Payout through a written check until a class participant chooses to get their settlement payment electronically. The direct deposit settlement payout receiving method is the fastest, smoothest, and most reliable way to get your settlement benefit amount. However, all paper checks can expire and become void in 180 days after the issue date.