Tri Counties Bank $1.19M Data Breach Class Action Settlement

Individuals who received a notice stating a data security incident at Tri Counties Bank in February 2023 compromised their private information may be eligible to claim up to $5,000 and/or other benefits from a class action settlement.

Tri Counties Bank agreed to pay $1.19 million to resolve a class action lawsuit alleging negligent data security practices, breach of contract and statutory violations following a data breach that potentially exposed sensitive customer information.

Who can file a claim?

Individuals may file a claim if the Tri Counties Bank data security incident discovered in February 2023 potentially affected their private information. The bank mailed notification letters to affected individuals on or around Oct. 12, 2023.

How much can class members get?

Class members may be eligible for several types of compensation, depending on their circumstances and choices.

• Documented loss payment: Up to $5,000 per person for actual out-of-pocket losses and time spent dealing with the data breach. Class members must provide documentation. Expenses can include:
• Long-distance telephone charges
• Cell phone minutes (if charged by the minute)
• Internet usage charges (if charged by the minute or incurred solely due to the incident)
• Costs of credit reports purchased between Feb. 7, 2023, and April 21, 2026
• Costs for credit monitoring or fraud resolution services purchased due to the incident
• Expenses directly associated with identity theft or fraud related to the incident
• Other documented losses fairly traceable to the data breach

• Alternative cash payment: $100 per person subject to pro rata adjustment if claims exceed available funds. No documentation is required.
• California statutory cash payment: $150 for California residents or those who lived in California at any point from Feb. 7, 2023, to April 21, 2026. This is also subject to pro rata adjustment and requires a sworn attestation of California residency.
• Expanded identity theft and fraud monitoring: One year of credit monitoring and insurance with up to $1,000,000 in coverage and access to a fraud specialist available to all claimants who request it

How to claim a settlement payment

Class members must complete the online claim form or download and print the PDF claim form, fill it out and mail it to the settlement administrator. The claim deadline is April 21, 2026.

Settlement administrator's mailing address: Dryden v. Tri Counties Bank, c/o CPT Group Inc., PO Box 19504, Irvine, CA 92623

What proof or documentation is required to submit a claim?

• All class members must provide the CPT ID located on the settlement notice they received. Online claimants must also provide the passcode from the same notice. Those who do not have a CPT ID and/or passcode should send an email to TriCountiesSettlement@cptgroup.com.
• To claim a documented loss payment, claimants must submit supporting documentation, such as receipts, bank statements, invoices or other records showing actual out-of-pocket losses related to the data breach.
• To claim a $100 alternative cash payment, claimants need only select the appropriate option.
• To claim a $150 California statutory payment, claimants must submit a sworn attestation confirming California residency during the relevant period.

Payout options

• Class members who file online may select electronic payment options.
• Class members who file by mail will receive their payment by check.

$1.19 million settlement fund breakdown

The $1,185,000 settlement fund covers:

• Settlement administration costs: To be determined
• Attorneys' fees: Up to $414,750
• Attorneys' expenses: Up to $30,000
• Service awards to class representatives: Up to $5,000 each
• Identity theft and fraud monitoring costs: Determined by the number of valid claims
• Payments to class members: Remainder of the fund

Important dates

• Deadline to file a claim: April 21, 2026
• Deadline to opt out: April 21, 2026
• Final fairness hearing: April 22, 2026

When is the Tri Counties Bank settlement payout date?

The settlement administrator will distribute payments after the court resolves any appeals and grants final approval to the settlement.

Why did this class action settlement happen?

The class action lawsuit alleged Tri Counties Bank failed to adequately protect customer data, resulting in a data security incident in February 2023. The plaintiffs claimed the bank’s actions constituted negligence, breach of contract and statutory violations.

Tri Counties Bank denies any wrongdoing but agreed to settle to avoid the risks and costs of further litigation.

Sources

1. Class notice
2. Claim form
3. Important dates