Evergreen State Bank values your business and we want to keep you accurately informed during these challenging times our nation faces. In media reports, we are hearing generic terms and words used often with no definition that are adding to consumer confusion. As your community bank, we want to address the misuse and misunderstanding of this information.

What is the difference between a Community Bank and an Investment Bank?

Evergreen State Bank, as a community bank, is FDIC insured and regulated by the Wisconsin Department of Financial Institutions and also the FDIC. In the media, the term “bank” is used as a broad term. An investment bank such as Lehman Brothers or Merrill Lynch is not insured by the FDIC and is not regulated in the same manner as community banks. 

Is your Money Market Account safe at Evergreen State Bank?

Yes! The negative reports are referring to money market funds held at investment banks which are not FDIC insured.

How safe is your money at a FDIC insured Community Bank?

FDIC insurance covers all types of deposit accounts at Evergreen State Bank including checking, savings, money market, CD accounts and IRAs. Not one penny of insured deposits has ever been lost by a customer of a federally insured bank! 

Remember…….

Any financial decision you make should be based on your specific situation, in consultation with your banker and not on any media report. During challenging times like these, it is important to remain calm, be accurately informed and ask questions of your local Evergreen Banker to get the straight answers.

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