Avoiding Coronavirus Scams Like with any major news event, it’s important to safeguard yourself from opportunists and scam artists that use these situations for malicious intent. For more information about coronavirus scams, please read this alert from the United States Secret Service. Keeping Your Money Safe Since 1963 As the economy is being impacted by COVID-19, please know that FirstBank has been a safe and sound financial institution for more than 55 years. We have always prioritized long-term financial stability over quick gains, and our approach to smart, conservative lending has enabled us to be in a strong financial position. The stock market crash of 1987, dot.com bubble in 2000, 9/11, and financial crisis of 2008 have all been difficult times. And FirstBank has come out the other side strong every time. During the most recent economic downturn (2008-2010), which was centered around the banking industry, we experienced some of our best performing years and have gone on to experience over a decade of record financial growth. We view the current challenge as a health care issue, not a banking issue, and our primary objective remains providing banking services throughout this period. FirstBank is well positioned to meet the challenges ahead and believe our financial strength and stability will allow us to continue to serve the best interests of our customers, communities and employees. That’s what “banking for good” is all about. It’s also important to note FirstBank is FDIC Insured. We encourage you to read up on what this means and how that can impact you below. FDIC Insurance What is the FDIC? The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States government that protects depositors against the loss of deposits if an FDIC-insured bank fails. FDIC insurance is backed by the full faith and credit of the United States government, and since the FDIC’s creation in 1933 no depositor lost any FDIC-insured deposits. For details on FDIC insurance, how to calculate individual coverage and coverage limits, visit the FDIC website at https://www.fdic.gov/EDIE/index.html. What types of accounts are eligible for FDIC insurance? FDIC insurance covers all deposit accounts at insured banks such as FirstBank and savings associations, including checking accounts, savings accounts, money market deposit accounts, and certificates of deposit (CDs) up to the insurance limit. The FDIC does not insure the money invested in stocks, bonds, mutual funds, life insurance policies, annuities, or municipal securities, even if these products were purchased from an insured bank. Contents stored within a safe deposit box are also not insured. What are the basic FDIC coverage limits?*** Single Accounts (owned by one person with no beneficiaries): $250,000 per ownerJoint Accounts (two or more persons with no beneficiaries): $250,000 per co-ownerIRAs and other Certain Retirement Accounts: $250,000 per ownerRevocable Trust Accounts: Each owner is insured up to $250,000 for each unique eligible beneficiary named or identified in the revocable trust, subject to specific limitations and requirementsBusiness Accounts (owned by one business entity): $250,000 per business entity Stay Updated Please check back on our main COVID 19 page. We will continue to provide needed updates about our operations or services as the situation unfolds. ***These deposit insurance coverage limits refer to the total of all deposits that account owners have at each FDIC-insured bank. The listing above shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met. Depositors may qualify for more than $250,000 in coverage at one insured bank if they own deposit accounts in different ownership categories. This list is being provided for informational purposes only. For complete, official details please refer to the FDIC (https://www.fdic.gov/deposit/covered/categories.html or 1-877-ASK-FDIC (1-877-275-3342).