Key Message for Employees and Customers on Bank Safety

The vast majority of banks in this country are safe and sound. 

  • Banks like ours are required to have significant capital and reserves – that is, rainy-day funds for tough economic times. This is a bank's first line of defense to cover any losses.
  • FDIC insurance provides an additional backstop. The FDIC protects depositors against the loss of their insured deposits if an FDIC-insured bank or savings association fails.

  • The FDIC has temporarily raised its coverage amount from $100,000 to $250,000 per depositor per insured institution through Dec. 31, 2013. (FDIC-insured accounts include savings and checking accounts, CDs, and money-market deposit accounts.)

  • No customer has ever lost a penny in insured deposits when a bank has failed.

Most banks have been in existence for decades and are likely to be in existence for many more.

  • The banking industry is diversified, with more than 8,000 banks serving customers every day at 97,000 locations nationwide. 
  • The chances of a bank being taken over by the FDIC remain remote. And if that did happen, you would continue to have virtually uninterrupted access to your insured deposits.
  • Our bank remains ready, willing and able to meet the needs of our community and serve our customers.

(Updated 10/15/09)