ABILENE, Texas (KTAB/KRBC) – CEO and President of First Financial Bank F. Scott Dueser sent out a press release to ensure customers that their money is safe.
Recent events have caused the closures of Silicon Valley Bank in California and Signature Bank in New York. Dueser wrote both banks focused heavily on cryptocurrency, large markets and lacked diverse loan bases and deposits. Both grew quickly and used the deposits to make long-term investments, which ultimately caused the shutdowns.
However, Dueser wrote that First Financial does not operate in this way, but rather focuses on safe, sound and secure banking for customers. He added that it has been one of the safest banks since it was established 133 years ago. He also shared facts to show customers that the bank is ‘safe, sound and secure’:
- In 133 years of operation, First Financial never experienced a net income loss, even through events such as the Great Depression, the oil bust and the global pandemic.
- Capital levels are above regulatory requirements and strong.
- First Financial just completed the 36th year of increased earnings with a net income of $234 million.
- Liquidity is good and First Financial has multiple ways to draw from if additional liquidity is needed.
- The deposit base is diverse with more than 330,000 accounts and 79 locations across the state of Texas.
- After the shutdowns of others, First Financial has operated as normal.
- In February 2023, Forbe Magazine named First Financial as the number two bank in the county out of the 100 top banks.
Dueser shared that they just released the 2022 annual report and the accomplishments made were through the dedication and hard work of employees.
“We value your business and our relationship with you greatly and we are here to provide you with the ultimate customer service delivered in a safe, sound and secure manner,” Dueser wrote. “They (employees) continue to go well beyond the call of duty in providing our customers and communities with exceptional service, and I thank each one of them.”
Dueser thanked customers for their business, dedication and loyalty to First Finacial Bank and shared that employees are available to visit if there are additional questions.
Here is the full press release: