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VERONICA B. FLORES EXECUTIVE VICE PRESIDENT |
To Our Clients: |
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It is clear that we face an unprecedented global economic crisis. What started as a sub-prime lending crisis morphed into a housing crisis which has led into a substantial credit crisis that all government efforts have yet to bring under control. As unemployment rates increase, central bankers throughout the world are working frantically to avoid a global recession. In the financial sector we have seen the bankruptcy of large and well established investment banks as well as commercial banks. Others have been rescued by the FDIC or via mergers. In this uncertain environment it’s more important than ever to work with a bank in which you can have confidence. |
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At FNBSM, we are proud to report to you that your hard-earned savings continue to be “Safe at First”! Throughout our 56 year history we have remained true to high standards in loan and asset quality, as well as strict adherence to our code of ethics and core principles. As a result, our bank is well capitalized. We have no subprime loans and only nominal exposure to residential lending. We do not anticipate the financial challenges that other financial institutions face. At the same time, the long-standing tradition of knowing our customers has kept us from joining the ranks of the many banks that have faced regulatory censure problems. |
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We report with great pride that for the 78th consecutive quarter, FNBSM has been awarded the prestigious five-star rating by BauerFinancial, Inc. Since 1983, BauerFinancial has earned the reputation of "the nation's bank rating service". Hundreds of newspapers depend on their ratings as a reliable source and federal and state regulators refer thousands of inquirers to them each year. Countless depositors used their valuable guidance to successfully navigate their way through the savings and loan crisis of the '80s. |
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With 77 consecutive quarters as a 5-star bank, FNBSM is in rare company, ranked in the top 1% amongst Florida banks according to Bauer. |
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We genuinely appreciate your continued loyalty to our bank. We will hold true to our strict standards that assure you that your money will continue to be Safe at First! |
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| Sincerely, | |
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