As news continues regarding recent closures of larger financial institutions, we realize this can be unsettling for the banking industry as a whole. Community banks differ in many ways, and you can take comfort in the fact that regulatory protections, deposit insurance, strengthened oversight, and our own resilience helps protect our company and our customers.
We want to assure you of the safety and soundness of Premier Bank, and that these closures are unique. Below are just a few ways Premier Bank differs from the collapsed institutions:
Premier Bank is a 100% local and privately held community bank. Celebrating 25 years this year, our company has been strong for a quarter century. Fundamentally, our bank's financial robustness stems from a prudent conservative banking approach. This strategy will not change now or in the future. The banks that have failed, and presently under the greatest publicized stress, are publicly traded banks.
At Premier, our lending portfolio is well diversified among a number of clients in different industries. We do not bank the crypto firms, venture capital firms, and other more volatile businesses that have plagued failed banks.
Capital and liquidity levels for Premier Bank arewell above regulatory guidelines and are considered strong.
Since the start of FDIC Insurance, no one has lost a penny of insured funds because of a bank failure. Furthermore, the FDIC and Federal Reserve have stepped up to assure that no customer loses a single deposit dollar. In addition, the FDIC and Federal Reserve has put a new credit facility in place to make sure that all banks have access to funds to meet their depositors’ needs. While Premier Bank has no need for this resource, we do hope this prevents any further deterioration of the faith in our country’s banking system and bolsters consumer confidence.
Premier Bank's success has been achieved through our unwavering dedication to maintaining the balance between security and growth. We are fully committed to offering deposit stability and ensuring prompt availability of your funds when you require them.
If you have any questions, please don’t hesitate to reach out to your banker, myself, or anyone on our executive team at 563-588-1000.
We are grateful for your partnership and continued trust in Premier.
Premier Bank, Dubuque is a 5-star rated financial institution from BauerFinanacial, the nations leading independent bank rating firm. A 5-Star rating, BauerFinancial's highest possible rating, indicates Premier Bank is one of the strongest banks in the nation. To earn a 5-Star rating, the bank must excel under a rigorous, independent analysis of its financial condition. Premier Bank is well positioned to continue to support its community through ever-changing circumstances.