Posted On: May 19, 2023 by Wayne County Bank in: General
Here To Help You Grow - Banking news
May 19, 2023
The recent headline closures of Silicon Valley Bank and three other banks sent shock waves across the banking industry, resulting in depositor uncertainty and concern. The actions by regulators to shore up confidence in the safety of bank deposits appear to have calmed the markets and depositors. However, the economy continues to be affected by inflation, rising interest rates and other national and global forces.
Despite the turmoil, Madison County Bank operates with the same consistent and stable business practices that have guided us for the last 135 years. Our financial condition is strong and backed by ample capital and liquidity, conservative risk management practices, sensible credit policies, and a talented management team. We will continue to focus on what has made us successful: enhancing the financial success of our customers, communities and employees. We’ll be here to meet the needs of our business and
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