We want to address recent events in the banking industry and the closures of Silicon Valley Bank (SVB) and Signature Bank that you are hearing about in the news.
Our position:
The two banks closed by regulators were heavily involved in the cryptocurrency and start-up technology sectors. High Plains Bank’s loan portfolio is based in our communities; almost all of our deposits come from our communities, too. We do not have the high risk profiles of the specialty banks.
Your deposits with us are safe. Those of you with deposits of $250,000 and less are fully insured. There are ways to extend deposit insurance beyond $250,000, as well. We are happy to discuss those options. Please take a few moments to view the following video messages.
High Plains Bank and the Banking Industry: Are My Deposits Safe?
High Plains Bank and the Banking Industry:
Could High Plains Bank Fail?
Customers with deposits over $250,000
For our customers with deposits over the FDIC $250,000 insurance limit, you may enroll in programs to further insure your accounts. Please refer to the IntraFi Cash ServiceSM (ICS) and CDARS® information for further details.
For more information, contact Andre Becklund, Chief Financial Officer at andre@highplainsbank.com or call 720.680.0887.
Thank you for everything you do to make High Plains Bank a great place to do business and to work!
We are happy to discuss those options. As always, please reach out if you have any questions.
