An Open Letter to Our Customers Regarding Recent Bank Failures

At Highland Bank we take great pride in the open and trusted relationship that we cultivate with our customers.  So, when news reports like the bank failures of Silicon Valley Bank (SVB) and Signature bank make our communities question their financial security, we are thankful that we can confidently step into the conversation and put our customers at ease.

It is important to know that both of these troubled banks share traits that make them very different from Highland Bank.  Both were poorly diversified in their lending portfolios as well as their deposit base.  SVB financed a large percentage of venture capital companies, while Signature was heavily involved in crypto-currency markets.  And both banks were publicly traded, exposing them to stock market volatility.

Highland has a well-diversified and well-capitalized bank with access to multiple sources of liquidity, including the Federal Reserve’s recently established Bank Term Funding Program.  With a diverse customer base of consumer as well as commercial account relationships, our community bank has earned a Superior 5-star rating from independent rating firm Bauer Financial quarter over quarter.  And since Highland is privately owned, we are not affected by sudden stock market fluctuations that consumer uncertainty can cause.

While we may see some continued volatility in the weeks ahead, regulators have taken action to handle this present situation.  Rest assured, Highland is well positioned to operate “business as usual” – and will offer the same solid community banking that we know you rely on.  We are here, and welcome the opportunity to answer any questions you have about your banking needs now, and in the future.

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