A Word To Our Customers: Valley Bank is Secure
Dear Customer:
We have all heard the doom and gloom news coming from the financial sector. Valley Banks wants to assure you that we are safe and secure. Annie Goodwin, Commissioner of the Montana Department of Administration's Banking and Financial Institutions, said Montana's 64 state chartered banks do not have significant exposure to sub-prime mortgages. "We are repeatedly seeing signs that Montana's current economic climate is far better than most of the nation's," Goodwin said. Goodwin continued to state that banks with equity capital at or above 6% are well capitalized. Valley Bank has capital in excess of 10%.
Why are we better off here in Montana than on Wall Street? There is a large distinction between the failing banks and your Valley Bank. Valley Bank is a locally owned depository bank. The failing banks on Wall Street are publicly traded investment banks and other institutions that are heavily invested in sub-prime mortgages. Valley Bank did not invest in the sub-prime mortgages that are causing the economic crisis. Valley Banks are open for business and still lending to our local community.
At Valley Banks we still do business the way we have always done business; keeping your money safe and investing in the local community through local lending. We are proud to have you as a Valley Bank customer and take pride in our safety and soundness. Our management wants to thank you for banking with us and assure you we are safe, secure and open for business.
