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Safety and Security for Your Savings
 
With recent headlines about the soundness of financial services providers, we want to reassure you that Susquehanna Bank can offer you safety and security for your savings. Susquehanna Bank is a federally insured bank, and a well-capitalized and highly regulated institution.
We are well-capitalized:
Susquehanna exceeds the ratios necessary to be classified as “well-capitalized” by government banking regulators. A bank’s capital serves as a buffer against potential losses.
We are highly regulated:
We have internal departments dedicated to handling credit and risk management and employ underwriting practices to avoid losses and to promote safe and sound operations. We are visited by regulators annually to make certain that we are following appropriate practices.
We did not pursue sub-prime lending:
Although some banks and lenders have announced write-offs due to defaults on subprime mortgage loans, Susquehanna’s portfolio does not include a subprime component. Our mortgage operation did not pursue subprime lending, due to the risk such loans would have posed both to our customers and our reputation.
We are FDIC insured:
Customer deposits at Susquehanna are insured by the Federal Deposit Insurance Corp. (FDIC), an independent agency that is backed by the full faith and credit of the United States government.
The FDIC emphasizes that not one penny of insured savings has ever been lost by a customer of a federally insured bank.
The basic coverage for deposits in an FDIC-insured bank is up to $100,000 per depositor and $250,000 per owner for certain retirement accounts. However, the FDIC provides separate coverage for deposit accounts held in different categories of ownership, allowing customers to have more than $100,000 insured at the same bank.
Some examples of how depositors can expand their coverage beyond $100,000 include:
  • A husband and wife both have single bank accounts in each of their names (each account is covered for $100,000).
  • The couple has a joint account which is covered for up to $200,000.
  • The husband and wife each have separate IRA Accounts for $250,000 each.
NOTE: This is a brief summary of some of the FDIC deposit insurance rules. Depositors should consult with their legal advisers and with the FDIC Website prior to establishing different bank accounts or changing the title of an existing bank account to maximize deposit insurance.
The FDIC Website www.fdic.gov is an excellent resource for learning more about how your deposits are insured. The FDIC also provides an Electronic Deposit Insurance Estimator (EDIE), an interactive tool that can help you learn about deposit insurance and calculate the insurance coverage of your accounts. To access this tool from the FDIC Website, go to www.fdic.gov/edie.
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Copyright © 2008 Susquehanna Bancshares, Inc.  |  Susquehanna Bancshares, Inc.  26 N. Cedar Street  Lititz, PA 17543-7000