Safety and Soundness

None of us can escape all of today’s headlines about the economy and the affects of the global, national or even local financial crisis. It is understandable to be nervous about your own financial situation and the safety or soundness of the institution you bank with. Allow us to set your mind at ease. Dean Bank is a safe, sound, secure and well capitalized community bank! Dean Bank did not engage in any of the investment or lending practices that lead to the instability of either the financial markets or real estate market and it has not experienced any of the financial woes associated with these activities.

Dean Bank has not participated in any of the activities that contributed to today’s economic problems and is not experiencing any of the financial woes associated with those types of bad decisions. Our neighbors come to us to finance their housing and business needs, and we have continued to meet all their reasonable needs without offering any sub-prime or highly leveraged real estate loans. As a result, Dean Bank’s exposure to financial losses from our investments is minimal.

These are very challenging times for all financial services organizations large and small. We’ve seen the failure or forced-acquisition of the giants of Wall Street. Although these events make it easy to question the financial soundness of all institutions based on the failures of a few, it is not indicative of their true financial soundness. The vast majority of our nation’s 8,000 banks are financially strong and able to weather this economic storm as they have other stormy periods for decades. It is comforting to know that these challenges are primarily taking place on Wall Street and not on Main Street.

Confidence and trust is the key to our nation’s economic stability. It is also the key to getting a good night’s sleep. Dean Bank’s customers can rest assured that access to their money is has not changed. Even customers with deposits in excess of FDIC insured limits can rest confidently with the knowledge that additional insurance is provided by the Share Insurance Fund of The Co-operative Central Bank. Every penny on deposit with Dean Bank, regardless of the amount, is insured in full.

Like most of the nation’s community banks, we at Dean Bank have stuck to common sense business practices and Main Street values doing what is best for our customers. Community banks are making sound investments in their communities in the form of personal, housing and business financing to their neighbors which enables the communities to grow and prosper. Concentration of wealth in the hands of a few firms on Wall Street has proven not to be the answer to safe and sound bank management. One giant financial institution swallowing another giant financial institution is not the way to reduce risk. Unlike those who steer these Wall Street firms and mega banks, Community banks have not lost sight of the fact that the safest investments are found in their local communities. The support that we have long provided has contributed to local growth and prosperity. Dean Bank has invested and will continue to invest in our local communities and those that reside and conduct business in them and we stay far removed from the risky activities of Wall Street.

Dean Bank provides financing for local housing and business needs, creates local employment for our neighbors, pays taxes to support the community it serves, donates time and money to local non-profit organizations and provides friendly and helpful financial advice to satisfy a multitude of local needs. At the foundation of our mission, Dean Bank will always work in the “best interest” of our local community.

Tell us…What do you see? For more information on any of our products and services, to provide us with your comments or feedback, or simply to tell us about your own dreams and visions so that we can help you reach them, please use our Contact Us form, or call any of our offices.