To Our Valued Customers,

The recent failures of Silicon Valley Bank and Signature Bank have caused uncertainty in the financial markets, and deliberate action by our government to fortify our financial system.

We want to take a moment to reinforce that Firstrust Bank remains well capitalized, with strong operating results, strong loan loss reserves, and ample sources of liquidity.  Since our founding nearly 90 years ago, we’ve been focused on serving our customers and keeping their deposits Safe and Sound.  This commitment is reinforced by the fact that we are a privately held, family-owned bank that does not have the same pressures of a publicly traded bank.
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Firstrust manages for the long term. Firstrust has not engaged in the critical mistake that created much of the challenge at SVB – taking too much of their short-term funds and investing them into long-term assets to enhance returns.  We have remained conservative with our capital and your deposits, asset and liability management and our credit decisions.

Firstrust has not engaged in high-risk investments.  Firstrust does not invest in crypto or high risk fintech investments.

Firstrust remains very financially sound.  Our capital levels are significantly higher than the regulatory requirements for being considered well capitalized.  Firstrust’s tier 1 capital ratio at year end was 11.45% and our total capital ratio at was 12.7%.  To meet the FDIC definition of being well-capitalized, banks need to have a capital ratio of greater than 8.00%.  See our 2022 financial statements here.

We are here to fully serve you.  We stand ready to process transactions and wires, fund loans, answer questions and serve your overall financial needs — as we do every day.

Over the years, we have faced various economic cycles, including the 2008 financial crisis.  Firstrust emerged from that crisis stronger as we had always focused on conservative risk management and emphasized the importance of capital, and those are still the ‘north stars’ that guide how we protect your money.

We take seriously being your reliable and trustworthy partner in your financial journey, and we look forward to continuing to exceed your expectations for many years to come.
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Richard J. Green

Executive Chairman of the Board

Timothy J. Abell

CEO & President