{"id":6563,"date":"2023-04-09T15:42:57","date_gmt":"2023-04-09T22:42:57","guid":{"rendered":"https:\/\/southernoregonbusiness.com\/?p=6563"},"modified":"2023-04-09T16:13:11","modified_gmt":"2023-04-09T23:13:11","slug":"peoples-bank-sends-message-to-customers-following-the-collapse-of-silicon-valley-bank","status":"publish","type":"post","link":"https:\/\/southernoregonbusiness.com\/peoples-bank-sends-message-to-customers-following-the-collapse-of-silicon-valley-bank\/","title":{"rendered":"People’s Bank sends message to customers following the collapse of Silicon Valley Bank"},"content":{"rendered":"\n

To the Valued Customers of People\u2019s Bank of Commerce,<\/p>\n\n\n\n

Given the events that have occurred in the banking industry over the past few days, your team at People\u2019s Bank of Commerce wanted to reach out and share with you that our bank remains well capitalized and well positioned to continue to serve our customers and our communities. We were chartered over 25 years ago and during that time we\u2019ve weathered several economic cycles.<\/p>\n\n\n\n

As of December 31st, the company\u2019s tangible capital was 8.1.%. Tangible capital is a ratio that compares total capital less goodwill and AOCI (investment gains and losses). Recent bank failures have occurred at banks with negative tangible capital. People\u2019s Bank remains well capitalized, above regulatory requirements to be considered well capitalized. Furthermore, we do not have any held-to-maturity investments with undisclosed losses.<\/p>\n\n\n\n

The board and senior management own over 47% of our bank stock – we have a strong, vested interest in the success and security of People\u2019s Bank.<\/p>\n\n\n\n

As a community bank, we take pride in our relationship-based business model focused on building long-term trust with our customers. We live in your community and your success is our success.<\/p>\n\n\n\n