We’re Here For You – Response to Recent Banking News

What happened with the recent bank failures?

Two banks failed over the weekend of March 10, 2023, Silicon Valley Bank in Santa Clara, California, failed on Friday, and Signature Bank in New York City, New York, failed on Sunday. Regulators closed these banks after large depositors withdrew significant funds from these banks in recent days.

It is important to note that NO DEPOSITORS LOST ANY FUNDS in these failures. The FDIC has backed all depositors, regardless of whether their balances were in excess of FDIC limits. All depositors have access to their full account balances today. These banks are very different from community banks like Colony Bank. They had unique business models that focused on a small number of customers with very large deposit accounts. Colony bank is a community bank, with a diversified customer base serving consumers and small businesses all across our footprint. We have a large number of customers with smaller average balances than the banks that failed. Our business model is inherently less risky than the business models of the banks that failed.

Is my money safe with Colony?

Colony Bank is an FDIC insured bank. Nobody has ever lost a dime of FDIC-insured deposits up to $250,000.The FDIC insures certificates of deposit and money market accounts, along with traditional checking and savings accounts.

If you have questions about your coverage, or would like to learn more about FDIC insurance and how it works, we encourage you to access the following resources, give us a call directly at 800-873-6404, or come visit us at one of our banking centers.

FDIC Insurance : https://www.fdic.gov/resources/deposit-insurance/

Deposit Insurance FAQ’s: https://www.fdic.gov/resources/deposit-insurance/faq/

Are My Deposit Accounts Covered by the FDIC: https://www.fdic.gov/resources/deposit-insurance/financial-products-insured/

Is Colony Bank safe and sound?

As a community bank, Colony Bank remains well capitalized and well positioned to continue to serve our customers and community. We were founded 48 years ago and expect to serve our communities for generations to come.

  • Colony Bank is a well capitalized bank, with ample liquidity to meet the needs of our customers.

  • We are very different from the bank that failed. We bank a wide variety of customers, from individuals, small businesses and corporate customers throughout Georgia and the Southeast.

  • Our broad and diverse customer base and markets provide us with a stable deposit base.

What does well capitalized with ample liquidity mean?

  • A well capitalized organization has the ability to access the cash necessary to cover its short- and long- term obligations.

  • Liquidity means how quickly you can get your hands on your money. Liquidity reflects a financial institution's ability to fund assets and meet financial obligations.Banks must ensure that sufficient funds are available at a reasonable cost to meet potential demands from both depositors and borrowers.

What is deposit insurance? How much is actually insured through FDIC insurance?

Deposit insurance is one of the significant benefits of having an account at an FDIC-insured bank—it's how the FDIC protects your money in the unlikely event of a bank failure. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.

The following are examples of deposit products which are insured by the FDIC:

  • Checking accounts

  • Savings accounts

  • Money market deposit accounts

  • Certificates of deposit (CD)

  • Prepaid cards (assuming certain FDIC requirements are met).

For questions about FDIC coverage limits and requirements, visit www.fdic.gov/deposit/deposits/

FDIC Deposit Insurance Estimator: https://edie.fdic.gov/calculator.html

What products are not Insured by the FDIC?

There are a number of non-deposit investment products that are not insured by the FDIC, even if they were purchased from an insured bank. These include:

  • Stock investments

  • Bond investments

  • Mutual funds

  • Crypto Assets

  • Life insurance policies

  • Annuities

  • Municipal securities

  • Safe deposit boxes or their contents

  • U.S. Treasury bills, bonds or notes*

*These investments are backed by the full faith and credit of the U.S. government.

Financial Products that are Not Insured by the FDIC


Can I have more than $250,000 of deposit insurance coverage at one FDIC-insured bank?

Yes. The FDIC refers to these different categories as "ownership categories." This means that a bank customer who has multiple accounts may qualify for more than $250,000 in insurance coverage if the customer's funds are deposited in different ownership categories and the requirements for each ownership category are met.

Deposit Insurance FAQ’s: https://www.fdic.gov/resources/deposit-insurance/faq/

What if I’m married, have a small business, etc? How much of our deposits are insured?

It is possible to qualify for more than the current $250,000 in coverage depending on type of account and ownership category; you should ask your banker about your specific situation or visit the FDIC for more information.

Are Credit Unions safer than Banks?

Just like banks, credit unions are federally insured; however, credit unions are not insured by the Federal Deposit Insurance Corporation (FDIC). Instead, the National Credit Union Administration (NCUA) is the federal insurer of credit unions, making them just as safe as traditional banks.

Questions about Financial Planning?

If you have questions about your financial positioning, Colony Bank offers an investment services program through Ameriprise Financial Institutions Group, a channel of Ameriprise Financial Services, LLC. Through Ameriprise Financial, you’ll have access to wide-ranging advice — from customized investment recommendations and asset allocation strategies, to comprehensive financial planning.Your financial advisor can provide access to an extensive suite of solutions to meet your specific needs.


Ameriprise Financial has a partnership with this financial institution to provide financial planning services and solutions to clients. The financial institution is not an investment client of Ameriprise, but has a revenue sharing relationship with Ameriprise, which creates a conflict of interest. Details on how we work together can be found on ameriprise.com/sec-disclosure.

Ameriprise Financial cannot guarantee future financial results.

Ameriprise Financial Planning Services are optional, offered separately, and priced according to the complexity of your case and your financial advisor’s practice fee schedule. Your fees and financial advisor may be subject to change.

Financial planning is generally appropriate if you have financial goals, sufficient assets and income to address your financial goals, and are willing to pay an investment advisory fee for recommendations to help you achieve those goals. Please review the Ameriprise Financial Planning Client Disclosure Brochure or, for a consolidated advisory relationship, the Ameriprise Managed Accounts and Financial Planning Service Disclosure Brochure, for a full description of services offered, including fees and expenses.

Helpful Links:

FDIC Insurance : https://www.fdic.gov/resources/deposit-insurance/

Deposit Insurance FAQ’s: https://www.fdic.gov/resources/deposit-insurance/faq/

Are My Deposit Accounts Covered by the FDIC: https://www.fdic.gov/resources/deposit-insurance/financial-products-insured/

FDIC Deposit Insurance Estimator: https://edie.fdic.gov/calculator.html

Colony Bank Financial Advisors: https://colony.bank/financial-advisors

President Biden Delivers Remarks 3/13/2023: https://youtube.com/watch?v=dLVbVqqsXF8