NewsLocal News


Nebraska banks ensure customer confidence amid national bank closures

Pinnacle Bank has seen a 20% increase in phone calls over the weekend
Posted at 7:31 PM, Mar 13, 2023
and last updated 2023-03-13 20:31:32-04

OMAHA, Neb. (KMTV) — Mark Hock is the CEO of Pinnacle Bank and said the phones have been ringing all weekend with questions about the health and stability of the bank and its deposits.

Richard Baier with the Nebraska Bankers Association is fielding similar questions; they both want to put fears to rest for anyone with money in a Nebraska bank.

He said Monday, all 168 banks in the state are protected.

"Every bank doing business is a state or federally chartered bank in the state of Nebraska," he said. "From Falls City out to Chadron and just about everything in between."

The banks are FDIC insured, which means the federal government covers funds in an account up to $250,000.

The FDIC insures checking and savings accounts, money orders and cashier’s checks. Investments, mutual funds and crypto assets are not insured.

Baier said people with assets not insured should consider depositing any funds in an FDIC-insured bank.

In the case of Pinnacle Bank, Hock said there are options for people to insure their money if they have more than the $250,000 threshold. Pledging securities and utilizing exchange networks are potential options for securing funds through the bank, he said.

Both want Nebraskans to remain confident in the local banking industry.

"Banks in general are here to take care of those needs," Hock said.

Download our apps today for all of our latest coverage.

Get the latest news and weather delivered straight to your inbox.