President's Blog; Summer 2023

August 01, 2023

Silver Lake Bank remains healthy, strong and safe

It is amazing how much the banking world has changed in 2023.

Following the failures of several large institutions many of the mid-sized, regional banks have contracted their lending and lending terms. Credit has tightened for them, they are reducing their presence or exiting markets.

Community banks like Silver Lake Bank are the beneficiaries of these contractions. We all realize that being committed to customers is what matters most to our customers – and to us.

Silver Lake Bank is committed to meeting your needs through a relationship banking approach. We offer personalized services, tailored solutions, and a single point of contact to our customers. Our goal is to build long-term relationships and deliver customized services and products when needed.

We believe this is better for our customers rather than merely focusing on a single transaction. Transactions are part of a continuum of the broader customer relationship environment putting you front and center of everything we do.

We believe our customers want a long-term relationship and that is precisely what we provide. We believe our customers are exceptional people and it is only through a full appreciation of their aims and aspirations that we can help you achieve your goals. Our customer relationship team ranges from the deposit team you work with each day to the lending officers, credit analysts, loan portfolio managers and so many others who are part of our bank wide customer service team.

We listen to you and respond in order to be competitive, safe and innovative. We provide banking and beyond to you with those services through our integrated deposit, loan and other services. Here are just a few:

- Deposits - Safe deposits earning an industry leading 6.00% APY* on our new Kasasa Cash-Multi Level Checking Account paying higher rewards based on three qualifying activities that you are probably already doing -- sign up for and agree to receive eStatements; have one ACH or direct deposits per month and have 30 qualifying debit card transactions. Make 12 debit card transactions per cycle and earn 4.50% APY*. Visit our website or ask any of our staff for further details. (*APY = Annual Percentage Yield)

-The Federal Reserve continues to increase interest rates but that doesn’t mean that we aren’t still making loans. If you have a business, agriculture or other loan need, contact us and ask any of our lenders about our creative loan solutions.

- Looking for a safer alternative to keep precious items under the mattress? Our safe deposit boxes -- available in various sizes -- at several branches are the perfect solution to protect your items and help you sleep better at night, too.

As part of our ongoing customer appreciation, please join us at a special event created just for you! Join us from 1p.m. to 4 p.m. Sunday, Oct. 1 at the Gage Park Big Shelter for food, fun and a free concert, too. Save the date and we'll fill you in on the details as the date gets closer. Our customers matter to us today, tomorrow, and beyond.

Patrick R. Gideon President