October 28, 2010

Questions and Answers…

Questions and Answers for Silverton Bank

The failure of Silverton Bank has raised several questions among community bankers, such as:

  1. What will happen to my investment in Silverton stock?
  2. Will my bank continue to operate with the same level of services as provided before?
  3. What guidance is available regarding the procedures and requirements to establish a new correspondent relationship?
  4. Are any of our bank funds at risk?
  5. What is a bridge bank and how does it work?

These and other similar questions have been addressed by the FDIC in a “Question and Answer Guide for Silverton Bank, N.A., Atlanta, GA”. Please click here to access this question and answer guide. If you would like to discuss the impact of the Silverton Bank failure on your institution, please contact the experts listed below at (800) 270-9629.