Your Local Community Bank Remains Strong
By this time everyone has heard about the recent failures of Silicon Valley Bank in California and Signature Bank in New York. We want to assure everyone that your independent, local community bank remains sound and continues to be a safe and secure place for your deposits.
As a community bank, our business model is substantially different than either of these banks. We gather deposits from our customers within our local markets and then lend those deposits back to both our local businesses to help support their operations, and to local individuals to purchase homes, buy cars or recreational vehicles, etc. This type of banking activity leads to a much lower overall risk profile for community banks. Further, your local community bank is well capitalized, has sufficient liquidity available to meet our operational needs, and has the best loan quality and highest loan reserves in decades. We are well positioned for whatever economic headwinds come our way. Your deposits remain safe and secure with our bank.
If you have any concerns at all, please reach out to us and let us answer all your questions and any concerns you might have.
Contact Northern Interstate Bank at (906) 563-9233 and at www.banknib.com
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