Due to the current banking climate, do I have anything to be concerned with regarding SSB? 

Talks of interest rates, the stock market and other financial headlines may be on your mind, or at the very least, filling your news feed.  SSB would like to take this time to address some of these concerns especially in the news of Silicon Valley Bank Collapse this past Friday (March 10, 2023).


SSB Bank FAQ

I SAW THAT SILICON VALLEY BANK FAILED ON FRIDAY.  DOES SSB HAVE ANY SIMILARITIES TO THAT BANK?

SSB is a small/intermediate Bank that serves the community in Pittsburgh. SVB served a large industry of tech start-up companies, which is a "concentration". SSB does not have any concentrations.

IS SSB INSURED BY THE FDIC?

Yes, SSB is insured by the FDIC.

DOES SSB HAVE ANY RISKY ASSETS OR CRYPTOCURRENCY ON THE BALANCE SHEET?

No.

DOES SSB HAVE THE ABILITY TO MEET THE NEEDS OF THEIR DEPOSITORS?

Yes.  Please click on the link below for more information from the Federal Reserve Board.

Federal Reserve Board - Federal Reserve Board announces it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors

Should you have any concerns as a current customer of SSB bank, please do not hesitate to contact us.