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President's Blog; Summer 2022

June 01, 2022

Looking forward to summer months! If there’s been a constant theme this year, it’s all about change. We all feel the upward prices at the gas pump, the increased grocery bills, stock market volatility and rising interest rates. As always, we’re in this together and you can rely on us as your trusted financial partner for help and guidance.

Rising rates and safety of deposits are topics I get asked about frequently. How should you weather the storm if you need money and are concerned about protecting your nest egg? If you’re looking to borrow, contact one of our lenders so we can talk about it sooner rather than later. Purchasing land, home remodeling, needing a bridge loan and more - it could be beneficial to get your project underway in this rising rate environment. As far as your nest egg is concerned, there’s no safer place than the bank for your deposits. Standard FDIC insurance is $250,000 per depositor for each account ownership category. In addition, we participate in a CD program with other financial institutions and can provide you with unlimited FDIC insurance upon request. Most importantly, know that SLB is an extremely well-capitalized institution.

We have your back as you navigate through digital experiences to move money, make deposits and pay bills. Most of us have been impacted by nationwide hacks or identity theft at some level. At SLB, we’ve put debit card limits in place to minimize your exposure, ask you out-of-wallet questions to confirm your identity, and have available online alerts and an identity theft monitoring program for you to utilize if you choose.

Congratulations to Brenda Brown and Lynda Sims; two members of our loan department team who are retiring this week after 14 and 15 years (respectively) of service! They leave with our best wishes as they begin a new chapter. We will miss them both.

I encourage you to share your customer experience with us by phone or email using our contact information in the left panel. Your feedback is vital to our growth. We believe our culture of providing excellent customer service sets us apart from the rest. Think of us for your next financial need and we will help you to achieve your goals.

Thank you for banking at SLB.
Patrick R. Gideon