FDIC Information

In light of the recent bank failures of the Silicon Valley Bank (SVB) out of California, and Signature Bank out of New York, Iowa Falls State Bank would like to take this opportunity to reassure our customers of our institution’s financial security and continued ability to meet your banking needs.

• Iowa Falls State Bank is well capitalized and well positioned to continue to serve our customers and our community.  Our assets are strategically spread amongst a wide variety of diverse industries, business models, and business types. This diversification ensures a consistently strong capital position through managed levels of rates and risk. This is in contrast to SVB’s customer base which was highly concentrated in fintechs and venture capitalists or Signature Bank’s customer base which was highly concentrated in cryptocurrency. SVB’s failure began when their fintech startup clients withdrew deposits to stay afloat amid the volatile interest rate environment. SVB found itself short on liquidity and had to sell AFS bonds at a substantial loss to remain liquid. The bank’s next step was to replenish their realized losses but their call to raise additional capital concerned SVB’s depositors, leading to the run on the bank and ultimately, the bank’s closure by the FDIC.
• Iowa Falls State Bank is FDIC insured. Nobody has ever lost a penny of FDIC-insured deposits up to $250,000. For those customers who have questions about whether additional insurance coverage is needed, we are ready and prepared to assist you in identifying whether additional insurance coverage is necessary and ensuring your deposit needs are met. The following resources may be useful in learning more about FDIC insurance and how it works:
  • Understanding Deposit Insurance.
  • FDIC Deposit Insurance FAQs.
  • FDIC Calculators.
• Iowa Falls State Bank is a relationship-based institution. We take pride in our relationship-banking business model which ensures we truly understand your banking needs and allows us to build long-term trust with our customers through strong financial advice. After all, your success is our success.

If you have any questions or would like to discuss FDIC limits and coverage, please call the bank and we will be glad to help you.