Waco Strong

Our Community Banks

Waco, TX— March 13, 2023 — One of the great strengths of Waco is its locally-owned community banks. Every day we compete against each other for business. But today we come together not as competitors, but with this unified message: The CEO’s of Alliance Bank Central Texas, American Bank, Central National Bank, Community Bank & Trust, and The First National Bank of Central Texas stand together to let Waco know that their banks are strong and their depositors’ money is safe.

In recent days we have all seen many stories about the issues and ultimate failure of Silicon Valley Bank (SVB) in California and Signature Bank in New York. With that in mind, now is a great time to point out the significant differences between these banks and our community banks.

Our Customers

As community banks, we have a broad range of customers. Those customers are individuals and businesses right here in Waco. Our customers represent a wide range of industries, so our deposit base is not dependent on one single type of business.

On the other hand, SVB and Signature are extremely large banks that focus on servicing the tech sector, tech start-up companies, and non-traditional bank activities. They both saw extreme growth over the past few years and their funding base can fluctuate very rapidly depending on investors’ appetite for start-up companies. We saw this week how dangerous that can be.

Our Deposits

Our customers can feel certain that their money is safe with us. As previously mentioned, our deposit base is not tied up in one industry, but in diverse loans to businesses and individuals located predominately in the Central-Texas area. Also, we are all FDIC insured banks. And on Sunday the federal government announced that it is insuring 100% of all deposits with both SVB and Signature Bank.

Our Owners

We are all locally-owned community banks. Our investors do not solely focus on short-term success but want to succeed over the long-term. The decisions made by our boards and leaders reflect those priorities.

The events of the past week are another example of why where you choose to bank matters. Community bankers live and work in the communities we serve. We bring in local deposits and loans while managing our risk so that we remain safe and sound in any environment. Banking locally is always a wise decision.

Todd Moore, Chairman & CEO, Alliance Bank Central Texas

Dana R. Hassell, President & CEO, American Bank

Joe Nesbitt, CEO, Central National Bank

David Lacy, President & CEO, Community Bank & Trust

Joe Barrow, Chairman & CEO, The First National Bank of Central Texas