Nebraska banks secure customer confidence amid national bank closures
OMAHA, Nebraska (Nebraska) — Mark Hock, CEO of Pinnacle Bank, said phones have been ringing all weekend asking about the health and stability of the bank and its deposits.
Richard Byer of the Nebraska Bankers Association answers similar questions; they both want to allay the fears of anyone with money in a Nebraska bank.
On Monday, he said all 168 state banks were under protection.
“Every bank doing business is a state or federally registered bank in the state of Nebraska,” he said. “From Falls City to Chadron and everything in between.”
The banks are FDIC insured, which means the federal government covers up to $250,000 in the account.
The FDIC insures checking and savings accounts, money orders, and cashier’s checks. Investments, mutual funds and crypto assets are not insured.
Bayer said people with uninsured assets should consider placing any funds in an FDIC-insured bank.
In the case of Pinnacle Bank, Hock said people have the option to insure their money if it exceeds the $250,000 threshold. Pawning securities and using exchange networks are potential options for securing funds through a bank, he said.
Both want Nebraska residents to remain confident in the local banking industry.
“Banks in general are here to take care of these needs,” Hawk said.
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