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How Safe is Your Money?

Posted On: March 22, 2023 by Community Bank of Parkersburg in: General

  Within this past week, many individuals have unfortunately had to ask themselves this question. With the failure of two large and highly specialized institutions, you may be concerned about the strength of your financial institution, as well as the security of your deposits. Rest assured, Community Bank of Parkersburg maintains strong capital ratios and access to ample liquidity; however, you may still have some lingering questions on the security of your deposits. Let’s walk through FDIC insurance. FDIC deposit insurance protects bank customers in the event that an FDIC-insured depository institution fails. This insurance is automatic for any deposit account opened with an FDIC-insured depository institution. These deposits are insured up to at least $250,000 per depositor, per FDIC-insured bank, per ownership category.  The most important question to ask yourself, “Is my bank insured?” This information can be found

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