INDUSTRY BANCSHARES IN ‘SAFE AND SOUND CONDITION’

  

A spokesperson for an area banking group is assuring its depositors and the public that they are in good shape despite the current challenging interest rate environment.

Industry Bancshares, which owns six main banks located in Industry, Brenham, Bellville, Fayetteville, Shiner and Buffalo, was the subject of a recent newspaper article by a freelance business writer.  A bank spokesperson says every bank in the country has been challenged by this year’s rapid rise in interest rates.  However, he says that Industry Bancshares is in a strong, "safe and sound condition" financially with the assets and liquidity to meet the needs of their customers in the area communities they serve.  He went on to say that Industry Bancshares’ community banks have a different type of customer than many other banks…a generational customer from families who have a trusted banking relationship with them for three, maybe even four generations.

All of Industry Bancshares banks are insured by the FDIC, which covers accounts not exceeding $250,000.  However, the spokesperson said local bankers are able to structure accounts so that a family could have up to $3 million insured in one of their banks, and a total of $18 million in all six banks if necessary.  He went on to add that since the FDIC’s creation 90 years ago, no depositor has lost a penny of their insured deposits.