The Centennial Bank data settlement has got preliminary approval from the Eastern District Court of Arkansas on 22 Jan 2025 and the administrator has issued the notice as per the Court order. The class action settlement involves US residents affected in either the 2022 or 2023 or both data breaches of Centennial Bank.
With the court authorization, the settlement administrator has started to accept the Centennial Bank data settlement claim form; the class members need to file the claim before 06 May 2025. The administrator has sent the settlement notice to the class members, where the class members would receive compensation of up to $4000 or $50 from the $5.2 million settlement fund.
The lawsuit was filed against Centennial Bank in April 2023 claiming the defendant failed to maintain and implement reasonable security measures to protect the personal information from unauthorized access. According to plaintiffs, the data breach of July 2022 and April 2023 has led to unauthorized access to their database and information, such as social security number, DOB, financial account info, etc.
Eligibility & Exclusion
The United States citizens can check the eligibility conditions to claim the Centennial Bank data settlement and be class members below:
- All the Centennial Bank customers who received the notice of their private information affected during or around the data breach incident occurred in July 2022, which was publicly announced in April 2023, or April 2023 which was publicly announced in March 2024.
According to the settlement agreement, approximately 955,000 people were affected which includes 17,000 sub-class people of the settlement.
Exclusions:
- The customers and class members who have submitted objection or exclusion forms timely;
- The judge or judicial staff associated with this lawsuit will be excluded from the settlement;
- The defendant’s employees, officers, directors, or any entity will be excluded;
- Any individuals who were found charged with criminal activity and found guilty under the competent jurisdiction are excluded from applying.
Important Dates
The class members who were impacted by the Centennial Bank July 2022 or April 2023 or both data breaches should mark the following important dates of the settlement to exercise their legal rights:
| Settlement Rights | Important Dates |
| Claim Form Submission deadline | 06 May 2025 |
| Exclude or Object to the Settlement Deadline | 07 April 2025 |
| Final Approval Hearing | 22 May 2025 at 10 AM |
Payment Amount
The class members of the Centennial Bank data settlement would receive compensation as reimbursement for out-of-pocket losses or additional cash payments. The class members with valid claim forms would receive compensation from the defendant’s maximum contribution, which is $5.2 million.
The settlement administrator would first use the settlement fund to cover the administration cost, attorney’s fee & cost, class representative service awards, and others. After the administration covers the mentioned expenses, the valid claimants can expect the following payout based on their claim:
- Reimbursement of Out-pocket Loss: The class members can claim the reimbursement of out-of-pocket losses with their claim with the supporting documents. The claimants can receive reimbursement of up to $4000 for losses they incurred, such as losses to deal with identity theft, falsified tax returns, costs related to freezing/unfreezing the credit cards, or other traceable losses.
- Alternative Cash Payment: The class members can receive an alternative cash payment of up to $50 to cover their out-of-pocket, the amount can be increased or decreased based on the remaining settlement fund after covering the other expenses of the settlement.
How to claim?
The Centennial Bank former or current customers who meet the eligibility conditions can claim compensation from the settlement in the following ways:
- Online: You can visit the official Centennial Bank data settlement website at https://www.centennialbankdatasettlement.com/ and click the submit claim option in green. Next, you would need the Notice ID and confirmation code you receive through the settlement notice via mail or email. You would need to submit the claim form and provide all the details with a description of the loss and other information.
- Offline via mail: You can also claim the Centennial Bank settlement by downloading the claim form from the official settlement website, or requesting the claim form through telephone ( 1877 711 4078) or email ([email protected]) and sending the fill out claim form to the following postal address:
- Centennial Bank Data Settlement
- c/ o Settlement Administrator
- 1650 Arch Street
- Suite 2210
- Philadelphia, PA 19103
When to expect the payment?
Class members of the Centennial Bank data settlement who submit the claim form before the deadline, 06 May 2025, can expect their payment after the final approval hearing. As mentioned earlier, the final approval hearing will take place on 22 May 2025 at 10 AM, where the court will grant the final approval based on the reasonability and transparency of the settlement proposal.
If the court grants the final approval to the settlement and no one appeals the court decision, the class members with approved claims can expect the payout within 45 to 90 days of the approval, around August/ September 2025.