An update from our President/ CEO on recent banking volatility

Dart Bank is here for you. Stable, Secure and Financially Sound, as we have been for the past 98 years.

Many of you have likely become aware of SVB and Signature Bank over the weekend. Silicon Valley Bank was one of the largest banks in the country and their primary focus was the technology and venture capital sectors. Signature Bank had exposure to crypto banking.

Due to some large investments that didn’t hold up against the risk, the banks could not cover massive withdrawals at the end of last week. As a result, the banks failed.

While this will send ripples through certain banks, Dart Bank is not one of them.

I want to assure you that your bank – Dart Bank is very well capitalized. We are prepared for the occasional instability in the banking industry.

We are not invested like SVB, or Signature was. They had significant holdings in government bonds, which could not hold up in this inflationary environment. As a result, their investments turned upside down and couldn’t cover the deposits. Dart Bank does not have large holdings in government securities and therefore does not face a similar issue.

We are also very diverse in the sectors we serve. That diversity provides balance and stability. Dart Bank also has a series of risk protocols that we follow.

In addition, we have been intentionally conservative. We have been forward looking in the service of our customers. We do not subscribe to the “flavor of the day” strategy. And we don’t take on unnecessary risk. Instead, we adhere to our midwestern values and focus on providing the best service possible.

We made it through the real estate crash almost 15 years ago. We survived Covid and actually became stronger. We will get through this situation because our fundamentals are very strong.

If you have any questions or concerns, please feel free to reach out to us. In the meantime, take comfort in the fact the Dart Bank is here to serve you with stability and security in uncertain times.

William Hufnagel

President & CEO