A Message to Our Depositors
Monday, March 13, 2023
Message To Our Depositors
Given the events of the last few days with respect to Silicon Valley Bank's (SVB) failure and the New York Department of Financial Services takeover of Signature Bank, we want to reassure you that there is no comparison between MCS Bank and its operation with either of these two institutions. Neither Silicon Valley Bank nor Signature Bank are representative of the community banking sector, which we are a proud member and representative.
MCB Bank, like the community banks in general, maintains a very diversified deposit base and funding plan. By doing so we avoid the risks and susceptibility to the events of recent days. Our liquidity and capital positions are strong, and we are still here and ready to serve our customers’ banking needs.
If you have any questions or concerns, please feel free to contact me directly.
Terry L. Foster