To the Valued Customers of Elkhorn Valley Bank & Trust,

In light of the news of the recent closure of Silicon Valley Bank in Santa Clara, CA, Elkhorn Valley Bank & Trust would like to reassure our customers and our communities of our strong financial standing and our commitment to the communities we serve. It is important to clarify and communicate the facts to our customers as well as the general public and correct the record on the portrayal of community banks currently being depicted by many in the national media.

Elkhorn Valley Bank & Trust as well as many other community banks are the backbone of our local communities and economies. Community banks value their customers and are heavily invested in the communities that they serve. They are prudently managed institutions and manage their risks appropriately. 

It’s not accurate to group Elkhorn Valley Bank & Trust or other community banks into the same category as Silicon Valley Bank. Elkhorn Valley Bank & Trust has different values and a different business model than Silicon Valley Bank. The capital levels that we maintain, the composition of our customer base, and the investments that we make put Elkhorn Valley Bank & Trust in a different category than most national and larger regional banks.

Elkhorn Valley Bank & Trust maintains extremely strong capital levels. As of December 31, 2022 Elkhorn Valley Bank & Trust maintained over two times the capital level that is required by the FDIC. This high level of capital gives our employees, depositors, and owners, the comfort that we would be able to withstand unforeseen events. Additionally, our broad and diverse customer base makes our institution strong. Silicon Valley Bank had an extreme concentration of deposit accounts connected to Venture Capital and start-up businesses, Elkhorn Valley Bank & Trust has a broad customer base made up of local individuals and businesses. Finally, our investment holdings and funding strategy is extremely conservative. We conduct quarterly stress tests to model extreme economic environments to assure that even in a worst-case scenario, we remain sound, and our capital levels remain adequate. Finally, Elkhorn Valley Bank & Trust has access to borrow significant funds if the need for additional liquidity were to arise, as of today we do not have a single dollar borrowed.

Elkhorn Valley Bank & Trust is safe and strong as evidenced by the facts stated above and recently validated by our recent assignment of a 5 Star rating, the highest possible, from Bauer Financial, a nationally recognized, independent bank research firm. 

As a FDIC insured institution, I would like to remind our customers that depending on the composition of your specific account relationships it is possible to maintain FDIC insurance on your total deposit relationship well in excess of $250,000. Additionally, for those customers who seek additional coverage, we offer Insured Cash Sweeps (ICS), this optional product will allow you as a depositor to maintain FDIC insurance on all deposits in excess of $250,000 through reciprocation with other FDIC insured institutions. If you have any questions about FDIC insurance or would like to learn more about structuring your account relationships to maximize your insured amounts, we invite you to stop in any Elkhorn Valley Bank & Trust locations to learn more.

In closing, we value you as a customer, we are committed to managing our bank in a responsible, prudent, and safe manner. If you would just like to better understand the financial structure and strength of Elkhorn Valley Bank, I would welcome the opportunity to speak with you. I invite you to stop by my office at 404 S. 25th Street in Norfolk or contact me directly at (402) 347-6050.

Again, we value your continued patronage of Elkhorn Valley Bank & Trust. We appreciate the confidence & trust you have put in us and look forward to serving you in the future.


Best Regards,

Aaron Otten, Chief Executive Officer
Elkhorn Valley Bank & Trust


Additional information and resources can be found at:

Understanding Deposit Insurance

FDIC Deposit Insurance FAQs

FDIC Calculators


Open Letter - Community Bank Strength 3.13.23