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Statement about Citywide Banks Financial Stability |
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To Our Valued Customers:
During this time of uncertainty we want to assure you that your money is safe at Citywide Banks. Despite a struggling national economy, Citywide Banks showed a profit for 2009, as we have every year since 1963. Through proactive management of loan-to-deposit
ratios and close portfolio risk monitoring we avoided
the losses that larger banks and many community banks
experienced. We are proud to say we did not rely on
government support of any kind to help us through this
extraordinary time.
Our most recent FDIC and Colorado Division of Banking exams both confirmed that Citywide is well capitalized, has a balanced loan portfolio and a strong liquidity position.
More important than our profit position is the fact that
we remained strong as a business advisor, a protector of
customer deposits and a critical source of financing for
businesses – so they could achieve their profit goals. Citywide remained an active
source of credit during a time when many local banks
were unable to meet demand.
For over 45 years, our vision and values have remained
consistent. More than ever, we are dedicated to working
closely with our customers as they manage the challenges
of this economy.
In 2009 we helped over 4,800 Colorado businesses
manage their banking more efficiently and we provided
over $521 million in loans and lines of credit to keep
local businesses on the road to success (view 2009 Citywide Banks Annual Report).
While the last few years have not been the easiest –
we are proud of our customers and our staff who have
worked hard, amid sometimes daunting challenges, to
emerge stronger and positioned to take advantage of the
opportunities ahead.
We value your trust in us and sincerely thank you for
your business
There are numerous private rating companies that use varied criteria to rate banks across the country. While the "official assessment" of our safety and soundness provided by the Federal Regulators is the most important, another source of research ratings on Citywide and other Colorado banks can be found at www.DenverPost.com/bankratings.
We appreciate your loyalty, trust and confidence. Your deposits are safe and the bank is sound. If you have any concerns, we would be happy to discuss them with you; our direct phone lines are open.
Sincerely,
Kevin G. Quinn |
Martin J. Schmitz |
Jeffrey J. Schmitz |
President & CEO |
Vice Chairman |
Executive VP & COO |
303-365-3706 |
303-365-3705 |
303-365-3707 |
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