Some reassurance
James C Wayman, President/CEO
Saturday, July 19, 2008
Listening to the “media frenzy” on the national news is enough to scare anyone as we consider our personal finances. From Tom Brokaw to Paul Harvey and Dirk Van, one might think that the world is coming to an end.
As Will Rogers once said, “I am more worried about the return of my money than the return on my money!”
At ESB Financial, we are here to tell you that banking is safe and sound in Emporia. BauerFinancial, the nation’s leading independent bank rating and research firm, reports that the industry average capital to asset ratio for banks is currently 7.873 percent. On June 30, 2008, ESB’s capital to asset ratio was higher at 9.248 percent, providing a higher margin of safety. In addition, our non-performing assets are below 1 percent of assets as compared to the national average of 1.184 percent
Will Wayman’s legacy of conservative business practices has been the cornerstone of ESB’s philosophy of safe and sound banking for over 121 years.
Our banking roots at ESB Financial started in Lyon County in 1887 when Will Wayman started his first bank, the Farmers Bank of Admire City. He then started the State Bank of Allen in 1895, and established Emporia State Bank in 1901.
ESB Financial is insured by the Federal Deposit Insurance Corporation. FDIC basic insurance is $100,000 per depositor per insured bank. Certain retirement accounts (IRAs) are insured up to $250,000. Titling of accounts and owning deposit accounts in different ownership categories can increase the FDIC coverage at any one insured bank. The FDIC has developed a deposit insurance calculator to determine the insurance coverage available at your bank. Go to either www.FDIC.gov or www.esbfinancial.com to get to this calculator.
At ESB Financial we’re here to help you.