Statement on the closing of Silicon Valley Bank

March 13, 2023

As many of you may have read, last Friday, March 10th, the FDIC closed Silicon Valley Bank due to unique liquidity events they were experiencing. Native American Bank does not have any relationship with Silicon Valley Bank and we do not foresee any development from this situation negatively impacting our day-to-day business operations. Over the weekend Signature Bank in New York was also closed due to its own unique issues dealing with cryptocurrency. Native American Bank does not deal in cryptocurrency and we do not see this affecting our operations as well.

Our liquidity position remains very strong and we are well capitalized to support our many customers and further the advocacy and stated mission of the bank. Regulators have issued a joint statement stressing that all depositors of those institutions will be made whole with no loss to taxpayers.