News & Events

Your Finances are Safe and Secure with First State Bank

Mar 13, 2023

With the recent news regarding Silicon Valley Bank in California and Signature Bank in New York, we know that many people might have questions about the stability of banks. We want to assure you that your finances are safe and secure with First State Bank. 

Your choice to bank with us remains the best choice around. We are in strong financial condition and well-capitalized. Our growth has been conservative and mindful of the best interest of our customers, employees, and neighborhoods we serve. This approach has been one that has allowed expansion of banking services while remaining true to our commitment to relationship banking. It’s also important to note that First State Bank, as a well-diversified and financially stable community bank, differs greatly from both Silicon Valley Bank and Signature Bank whose failures, according to the Treasury Department and FDIC, were related to the two banks’ specific circumstances. 

We are here for you. As a valued First State Bank customer, you have access to bankers who get to know you and your financial needs. Our experienced team is at the ready to assist you anytime with your questions or concerns.

We understand that events in the banking sector can cause a sense of unease. Please know that nobody has ever lost a dime of FDIC-insured deposits up to $250,000. If you have questions about your deposit coverage or would like to learn more about FDIC insurance and how it works, we are available to assist you in identifying whether additional coverage is necessary and ensuring your deposit needs are met. We encourage you to access the following resources:

• Understanding Deposit Insurance
• FDIC Deposit Insurance FAQs
• FDIC Calculators

If you prefer to call, we are here to help at 586.775.5000.