We know many of you are following the news regarding Silicon Valley Bank (CA) and Signature Bank (NY), and the concurrent response from federal and state regulators.

Note that the U.S. Government has announced plans to unwind these banks in a manner that fully protects all depositors.

Sunday afternoon 03/12/2023, the U.S. Federal Reserve also announced a new Bank Term Funding Program aimed at promoting market stability. We view this as positive news that will help provide confidence in the stability of the banking system.

While we cannot comment on the specific challenges at these institutions, we wanted to assure you that our risk practices and industry exposures are in stark contrast to these two institutions.

We are a community bank focusing on small businesses and diverse industries within the communities we serve.  We have always prioritized safety and soundness, profitability, and growth in that order. 

Our risk management processes have resulted in strong capital and liquidity positions, which will allow us to continue to serve all current and prospective customers.

We will remain vigilant as your community partner to changing market conditions and economic developments.

We encourage you to reach out if you have any questions.

Sincerely,

James W. Meisser

President and CEO