First Financial Bank CEO assures customers that deposits are ‘safe, sound and secure’
ABILENE, Texas (KTAB/KRBC) – First Finacial Bank CEO and President F. Scott Dueser sent out a press release to assure customers that their money is safe.
Recent events have caused the closure of Silicon Valley Bank in California and Signature Bank in New York. Dueser wrote that both banks have a strong focus on cryptocurrency, large markets, and lack diversified lending and deposit bases. Both grew rapidly and used the deposits to make long-term investments, which eventually caused the closures.
However, Dueser wrote that First Finacial does not operate that way, but instead focuses on safe, sound and secure banking for customers. He added that it has been one of the safest banks since its inception 133 years ago. He also shared facts to show customers that the bank is “safe, healthy and secure”:
- In 133 years of business, First Financial has never suffered a loss of net income, even during events such as the Great Depression, the oil crisis and the global pandemic.
- Capital levels are above regulatory requirements and strong.
- First Financial just completed the 36th year of increasing profits with a net profit of $234 million.
- Liquidity is good and First Financial has several ways to tap if additional liquidity is needed.
- The deposit base is diverse with over 330,000 accounts and 79 locations across the state of Texas.
- After the closings of the others, First Finacial operated normally.
- In February 2023, Forbe magazine named First Fincail as the county’s second largest bank in the Top 100 Banks.
Dueser shared that they just released the 2022 annual report and the achievements were due to the dedication and hard work of the employees.
“We greatly value your business and our relationship with you and are here to provide you with the ultimate customer service delivered in a safe, solid and secure manner,” Dueser wrote. “They (employees) continue to go above and beyond the call of duty to provide our customers and communities with exceptional service, and I thank each and every one of them.”
Dueser thanked customers for their business, dedication and loyalty to First Finacial Bank and said employees are available to visit if there are any additional questions.
Here is the full press release: