In 2023, The First National Bank of Elmer celebrates 120 years of being your bank of choice, and we look forward to celebrating another 120 years of serving our customers. The recent events centered around the financial difficulties of Silicon Valley Bank and Signature Bank have caused some concern, but these issues are unique to those banks’ customer base, how they conducted business, and to their risk profile.
Let me assure you, we, at The First National Bank of Elmer, do not conduct business with venture capital firms, technology startup firms, or deal in any form of crypto currency. Our management team is constantly examining our risk profile and constantly model validating our loan concentrations, interest, and liquidity risk. As an FDIC insured bank, our deposits are insured to at least $250,000.00 per depositor, per ownership. Our bank remains strong and has the capacity to protect your funds and justify your ongoing faith in our abilities.
Over the past 15 years, the banking industry has become more resilient to handle isolated shocks to the system such as the failure of Silicon Valley Bank and Signature Bank. As a matter of practice, institutions have become better capitalized and, in general, more robust in their loan loss reserves.
As a locally owned, locally run community bank, we know our customers, many by their first names. We live in the communities we serve and support numerous local non-profit and civic organizations.
So be confident that your deposits are safe, our bank loan portfolio remains strong, and your deposits stay right here…in our local communities, where they came from.
If you would like to stop by one of our branches to speak with one of our team members, please do so…we are here for you.
Brian W. Jones
The First National Bank of Elmer