We know many of you are following the news regarding Silicon Valley Bank (CA), Silvergate Bank (CA), and Signature Bank (NY) and the concurrent response from federal and state regulators.
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 three institutions.
We are a community bank focusing on small businesses and diverse industries within our communities. 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, allowing us to continue serving all current and prospective customers. We will remain vigilant as your community partner and monitor economic developments.
If you know a business owner or individual affected by this unfortunate situation, please tell them we are here to help.
We encourage you to reach out if you have any questions about how these events affect your deposits or any facet of our ongoing relationship.
Joseph Major, CEO