Your Bank is Strong.
Despite what you may be reading on social media or hearing on the news, America’s banks are strong and resilient. The failures of Silicon Valley Bank and Signature Bank are unique and specific situations. Both banks had a concentration within the tech sector, a notoriously cyclical industry, and grew deposits far too quickly. When a bank is not well diversified, they are vulnerable to booms and busts. When their clients started withdrawing deposits, the issues mounted, and the end was inevitable.
Wisconsin’s community banks are a safe and sound alternative to trendy online banks and high growth specialty banks. Fortifi Bank’s deposits come from local businesses, municipalities, and thousands of individuals who live and work in our towns, just like us. Fortifi Bank remains well capitalized and well positioned to serve our clients and communities for many years to come.
Our clients’ deposits are put to work every day; financing small businesses, helping to purchase homes, and investing in the communities we live in. Banks pay income taxes that support social services, emergency responders, schools, and other public services, all to help our communities grow and thrive.
Fortifi has been Growin’ Wisconsin for 147 years. Many of the community banks in our state have been helping grow their hometowns for more than a century. We have thrived through all sorts of economic conditions, recessions, even the Great Depression. The Great Recession of 2008-2009 was one of the worst economic crises in modern history. Many banks suffered significant losses during this time, and some even failed. However, community banks were generally more resilient than larger banks. Fortifi Bank has a board of directors with a mission to remain a local and independent community bank – not selling to a mega bank and supporting another corner office on Wall Street.
A good community bank is a cornerstone in all great Wisconsin cities and towns. We are your neighbors and friends. We are your trusted financial advisors. Trendy does not equal trustworthy. I urge you to shop local and bank local. Not only will your money and financial future be well protected, but you will be participating in a financial partnership which has served generations of Wisconsinites very well.
