Dear Valued Customer,
The banking industry has dominated the news media with the FDIC’s recent takeover of Silicon Valley Bank and Signature Bank. I want to assure you that at The Savings Bank your deposits are safe and 100% insured between the Federal Deposit Insurance Corporation (FDIC), up to $250,000, with all deposits above that limit, in full by the Depositors Insurance Fund (DIF). As your local, trusted community Bank we are financially strong and, as we have since 1869, our focus continues to be to serve our customers and the community with safe and sound business practices.
No depositor has ever lost a penny in a community Bank covered by FDIC and DIF and customers at The Savings Bank can rest assured that your deposits are protected.
Our conservative business model hasn’t changed over our 154-year history and we remain a well- capitalized mutual bank with levels that exceed the regulatory definition of a well-capitalized Bank. We are well positioned to continue to serve our communities, individuals, and businesses now and into the future.
Thank you for banking with us, we appreciate your business. Our team of experienced Bankers are here for you. If you have any questions, please do not hesitate to contact us at 800-246-2009 or visit any of our branches.
Sincerely,
Robert J. DiBella
