Over the weekend, news spiked regarding the failures of Silicon Valley Bank in California and Signature Bank in New York, prompting the Department of the Treasury, Federal Reserve and FDIC to step in to protect deposits and provide more stability to the U.S. banking system.
With the bank failure news, you may have questions about EntreBank, and we want to assure you that we are well positioned financially. Currently all our liquidity is in cash at the Federal Reserve with zero exposure to market risk. In this rising interest rate environment, we maintain a capital level well above the regulatory requirements.
The majority of EntreBank's assets are held in our loan portfolio, which is extremely strong and high performing. We have robust underwriting standards and an excellent underwriting team. At EntreBank, we take care of business and will continue to fully serve our clients and meet the needs of our community.
We welcome the opportunity to discuss EntreBank's financial position and answer any questions you may have. Please feel free to reach out to any member of our Executive Team below:
- Tim Viere, CEO | 651.384.4605 | tim@entrebank.com
- Todd Hovland, President | 651.384.4606 | todd@entrebank.com
- Melissa Johnston, CCO | 952.239.2444 | melissa@entrebank.com
- Erik Knutson, CFO | 651.384.4610 | erik@entrebank.com
