Citizens Bank & Trust is Safe, Secure & Sound

 

· The U.S. Banking Industry as a whole is extremely safe and sound

· Much of the media focus over the last few months has been centered around the investment banks and commercial banks that have been engaged in riskier real estate lending practices such as sub-prime mortgage lending.  Citizens Bank has not been involved in such practices and continues to be very prudent in its real estate underwriting guidelines and the assets that we put on our balance sheet.   

· Commercial banks like Citizens Bank & Trust are highly regulated by 4 different federal agencies

· At Citizens Bank & Trust, local people make local decisions. We take a conservative approach to avoid risk. Federal regulators also provide extra assurance that we hold adequate reserves and avoid risky loans.

· Citizens Bank & Trust recently earned a 4-star rating for financial health by the independent rating firm, Bauer Financial. (You can check it out at www.bauerfinancial.com) 

· Only 54 banks in the nation earned 5 stars – none of them headquartered in Polk County, so Citizens Bank & Trust was among the highest-rated banks in Polk County for financial health.  

· The Federal Reserve also monitors how well-capitalized banks are. In all 3 risk categories, Citizens Bank & Trust had capital ratios well above the level considered “well-capitalized” by the Federal Reserve.

· Citizens Bank & Trust is a member of the FDIC, which insures deposits in member banks to up to $100,000 for regular accounts and up to $250,000 for retirement accounts. We also can recommend ways to title and set up ownership of accounts or set up trusts to provide even more asset protection. 

· Citizens Bank & Trust is Polk County’s oldest community bank. Founded in 1920, and still under the same family ownership, Citizens weathered the Great Depression without ever closing its doors.

· Our conservative approach has served the test of time.

· Citizens Bank & Trust is a very healthy, growing bank. Our assets have grown from $65 million 10 years ago to $350 million today, and we are preparing to open our 13th branch office – our fourth in less than a year.

· We invite anyone with questions to visit any of our branches, where we are happy to share financial information and answer any questions you might have. 

For a brochure with more information about Citizens Bank & Trust and our financial soundness, click here.

Q&A from American Bankers Association about Lehman Brothers, click here.  

Q&A from American Bankers Association about Fannie Mae & Freddie Mac, click here.

 

 

 

For more information, call or visit your local branch office.