FNBC’s statement regarding the failure of Silicon Valley Bank
On Friday, Silicon Valley Bank, the nation’s 16th largest financial institution failed and was closed by the FDIC. Over the past weeks, investors and depositors had grown increasingly concerned about the stability of SVB and began withdrawing funds last week. This is the first bank failure since the Great Recession of the late 2000s.
FNBC is watching this news very closely and staying sharply attuned to what is happening in our local, regional, national and global economies. Rest assured, FNBC Bank remains well capitalized and well positioned to continue to serve our customers and communities.
We have provided sound financial services, counsel and partnerships for consumers and businesses alike since 1912, and we pride ourselves in the partnerships we’ve built with our customers and communities over the past 110 years. We’ve seen and weathered economic uncertainty in the past and have continued to be a bank where customers know they can come to find the help and answers they need. From the first checking account to the commercial loan to launch the business someone has been dreaming of opening, FNBC has been here ready to serve, and we expect to serve for generations to come.
For those who already trust FNBC with their banking needs, you already know you have one-on-one access to our team of seasoned bankers. All of our community bankers are available and ready to answer any questions you may have, and will always provide accurate, timely, and sound advice. If you aren’t banking with us yet, we invite you to pull up a chair with us and learn about what makes FNBC a unique place to bank. We are poised and positioned to grow and serve.
As community bankers, the success of our communities is what drives us and pushes us to become the best we can be. We live and serve in the same communities as you, and our success is shared.
In the history of the FDIC, no one has ever lost any FDIC-insured deposits up to $250,000. If you have questions about whether additional insurance coverage is needed, our community bankers are prepared to work with you to ensure your deposit needs are met.
Should you have questions or would like to learn more about FDIC insurance and how it works, we encourage you to access the following resources or give us a call directly at 870-994-2311.
Understanding Deposit Insurance.