In recent days, news of the closure of a California and New York based bank has been making headlines. Those banks were built around high-risk clients and had a focus on serving companies in the technology industry, especially start-ups. The banks helped investors put their money into these technology start-up companies. In addition to the usual risks associated with start-ups, there are additional risks for companies being in the technology industry.
As a trusted financial partner to our customers, we at First State Bank understand that this news may have caused some concerns among our customers. We want to assure you that First State Bank is different from these banks in many ways.
Our business is built around local clients who own their businesses. None of our clients are publicly owned by investors. Our bank does not invest in technology businesses. Instead, we invest in local businesses by making loans to them, and in local communities by helping people finance their homes. We invest a very small portion of money in United States Treasury securities, considered to be the safest investment on the planet.
Reliability is one of our core values, and we take pride in being a stable and trustworthy financial partner for our customers. We follow a very safe and conservative business model, and your money is safe with us just as it has been since 1899.
In fact, our conservative approach has helped us weather financial storms and economic downturns over the years. We have built our business on the foundation of trust, transparency, and reliability. Our focus is on serving our local community, and we take that responsibility seriously.
We understand that banking can be confusing and complex, especially in times of uncertainty. That's why we are here to help. Our team of knowledgeable professionals is always ready to provide guidance, answer your questions, and help you navigate the financial landscape with confidence.
At First State Bank, we are committed to building long-lasting relationships with our customers. We believe in the power of community and in the importance of supporting local businesses and individuals. As a community bank, we understand that our success is directly tied to the success of the community we serve. That's why we invest in the success of our customers and in the future of our community.
In conclusion, we want to assure our customers that your money is safe with us, and we are here to help you through any financial challenges that may arise. Thank you for choosing First State Bank as your trusted financial partner.