Dear Customer,
The media has been giving a lot of attention
to the banking industry in recent days. We want to assure you
that our bank continues to be a strong locally owned bank and
remains a solid and important member of our community. We are
well-capitalized, routinely examined by our banking regulators
who make certain that we are operating in a safe and sound
manner for your protection and far removed from the events
on either coast that have prompted so much media attention
lately.
As you know, we are insured by the Federal
Deposit Insurance Corporation (the FDIC). You can be confident
that your insured deposits are safe. FDIC insurance is backed
by the full faith and credit of the United States government.
All FDIC insured deposits, including checking,
NOW, savings and money market accounts, as well as certificates
of deposit, are insured up to the following legal limits for
each unaffiliated financial institution. Our collective group
of banks under State Bank (The State Bank Group) are all affiliated
and deposits are insured as follows: $100,000 per person; plus
$200,000 per joint account (with a spouse, child or someone
else), plus $250,000 for most retirement accounts, such as
Individual Retirement Accounts. Moreover, if you believe that
some of your deposits are not fully insured, it may be possible
to restructure your accounts to bring your deposits into insurance
coverage. We will be happy to assist you.
If you have any questions as to what types
of accounts are insured by the FDIC, you can obtain more information
at http://www.fdic.gov/deposit/deposits/insuringdeposits/iyd.pdf,
where you can download a comprehensive brochure prepared by
the FDIC. If you want to calculate your own insurance coverage
for the deposits held by our bank or any other financial institution,
you can use the FDIC's online "Electronic Deposit Insurance
Estimator" at http://www4.fdic.gov/EDIE/. You
also can speak directly with an FDIC specialist by calling
1-877-ASK-FDIC.
We want you to know that we appreciate your
business. If you have any questions about your accounts, please
call our bank at 815-728-8000.
Sincerely,
Stephen J, Mitchell
President
Stale Bank
Member FDIC
