Your Bank for Generations – A Message from William Loving, President & CEO

In recent days, you have likely heard of the closing of two Regional Banks by the FDIC and state regulators. This news is jarring, and as a bank customer you may have concerns. We’re here to assure you that you are in safe hands at PCB. It’s our mission to facilitate financial success for our customers, and in times like this, provide assurance that we are here for you.

While we cannot comment on the specific challenges at these institutions, we wanted to assure you that our risk practices and industry exposures are in stark contrast to these two institutions. PCB serves customers across a variety of diverse industries, business models, and business types. This diversification ensures a consistently strong capital position.

The banking industry, as a whole, has become substantially more resilient over the last 10 to 15 years due in large part to a number of regulations aimed at protecting consumers and small businesses. In short, regulators require stronger and more conservative capital and risk profiles.

In response to the sudden closure of these financial institutions, we want to assure you that our capacity to preserve and protect your funds is and remains strong. PCB is well-capitalized, in addition to having ample available liquidity. In short, these conditions ensure that your accounts and funds remain protected amid uncertainty.

As an FDIC-insured bank, deposits are automatically insured up to at least $250,000 per depositor, per FDIC-insured bank, per ownership category (e.g. single, joint, trust, business, employee benefit, and certain retirement accounts). The FDIC website provides information on insurance rules, limits, and coverage by account type. In circumstances where balances exceed the FDIC insurance coverage, PCB can provide additional FDIC protection via CDARS and/or ICS programs. Please, ask a PCB team member if interested in more information.

PCB has served our customers and communities for nearly 100 years. We pride ourselves on relationship banking – you are a piece of our family. Our business model has always been relationship focused with an emphasis of building long-term trust with our customers. We live and work in the communities we serve, and your success is our success.

Additionally, our customers have access to our experienced team, and we stand ready to assist at all times. We are here for you and available to talk through your specific needs now and in the future. We’re proud to serve the community and hold close relationships with many of its business owners, families, and community members.

We are also here to help you assess, understand, and structure your deposit accounts to ensure FDIC coverage. Our management team is accessible as well. Please, contact your nearby financial center if you have any questions or concerns regarding FDIC insurance.