Dear American Bank Customers,
As a branch of American National Bank, Ardmore, Ok. American Bank promises to keep your money safe and provide you with the best service, as well as inform you on legislation affecting banking. The vast majority of banks in this country are safe and sound. We are proud to announce that American Bank has earned a Five-Star Superior rating from Bauer Financial. This Five-Star rating is the highest rating and indicates that American Bank is one of the safest in the United States. Our ratings can be viewed at Bauer Financial ratings www.bankstars.com.
The problems that the large banks and financial service companies are having are the result of the poor underwriting of mortgage loans, which used to be a very conservative process requiring down payments, low debt rations and job stability. In recent years, those factors have been largely ignored as more and more unqualified (sub-prime) mortgage applicants were approved. As the economy began to falter and jobs were lost, many of these sub-prime borrowers began to default on their mortgage loans. And the problem has been exacerbated by exotic investments developed by Wall Street, rising fuel prices and a further deterioration of the economy. American Bank has not been involved with sub-prime mortgage lending or the purchase of investment securities with these types of loans as the underlying collateral.
Congress' recent action to stabilize the financial markets has provided banks with increased federal insurance coverage. Below are some facts about these changes:
Your coverage has temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009. FDIC insured accounts include savings and checking accounts, CD's and money-market deposit accounts.
Banks are required to have significant capital and reserves - that is, rainy day funds for tough economic times. This is a bank's first line of defense to cover any losses.
No customer has ever lost a penny in insured deposits when a bank has failed.
Learn how federal insurance safeguards bank deposits at www.fdic.gov or by contacting any American Bank location.
The board of directors, officers and employees are committed to conservative financial policies and diligent risk management practices, allowing us to offer quality service and high level of financial safety and soundness. Given our financial strength, strong capital position and because American Bank is backed by the full faith and credit of the U.S. Government, you can be sure that your money is safe and secure.
Jesse E. Cross, Chairman
| Notice: American Bank does not request confidential information through email. Please report any such requests to Richard Zalko, Vice President at 800-580-7235 or email rzalko@bankanb.com |
|
Site designed and hosted by: AudioTel Corporation |
|
Send mail to webmaster@bankanb.com with questions or comments about this web site. Copyright © 2003 AudioTel Corporation |