Strength and Stability of Community Banks Statement
March 14, 2023
Dear Valued First Southern Bank Customer,
Considering the recent news surrounding Silicon Valley Bank and Signature Bank, New York, First Southern Bank wants to reassure our customers of the strength, viability, and resiliency of community banks, as well as bring the community-banking difference to the forefront.
As a community bank, First Southern Bank remains well-capitalized and well-positioned to continue to serve our customers and community. We were chartered in 1937 and expect to serve this community for generations to come. Community banks have always been focused on safety and soundness. In contrast to the nation's largest banks, community banks operate under an entirely different business model - one that's based locally and is relationship focused.
As a community bank customer, you have access to our experienced team, and we stand ready to assist you at all times with any of your questions or concerns. As a community bank, we take pride in our relationship-based mission which is focused on building long-term trust with our customers. We live in your community too, and your success is our success.
Consumers can bank with confidence at their local community bank, knowing their money is safe because it is insured by the FDIC. No one has ever lost a dime of FDIC-insured deposits up to $250,000. For those customers who have questions about whether additional coverage is needed, we are ready and prepared to assist you in identifying whether additional insurance coverage is necessary and ensuring your deposit needs are met.
For more information about the FDIC, please see our Services & Resources/Helpful Links.
Thank you for your continued support.
President & CEO, First Southern Bank