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News
John Seiber is a member of this year's Leadership Anderson County class and a loan officer at our bank. His leadership group took a two day trip to Nashville. In addition to meeting with Governor Bredesen, John met with many state senators and legislators, toured the state's capital and attended several sessions of the legislature. John is a graduate of The University of Tennessee with a degree in finance and marketing and has been with our bank since 2006. You can normally find him at our Norris-Clinton office.
Peoples Bank would like to thank everyone that assisted in making the 2008 Campbell County Relay for Life a big success. Congratulations to Team Captain Linda Orick and the rest of the Peoples Bank Relay for Life team for raising $2,584.
Our Scott County Office was well represented at this year's Scott County Chamber of Commerce Business Expo. Tammy Sexton, Ashley Kidd, Laura Day and Gerald Pike answered questions about our new branch and the various products and services we offer. Ashley said, "the event was a big hit and we received a lot of compliments on our booth. The bank has received several follow-up calls regarding information participants received at the expo."
Peoples Bank Secures Grant for Habitat for Humanity
Peoples Bank of the South working hand in hand with the Campbell County Habitat for Humanity was able to secure an affordable housing program grant for $29,855 from The Federal Home Loan Bank of Cincinnati. This money will be used to build homes in LaFollette and Jellico. Peoples Bank and Campbell County Habitat for Humanity received one of ten grants awarded in 2007 for the state of Tennessee.
The Federal Home Loan Bank of Cincinnati plays an important role in supporting the affordable housing and economic development initiatives of member institutions and community lending partners throughout the Fifth District - Kentucky, Ohio and Tennessee.
Through its recognition awards, the Federal Home Loan Bank honors member institutions and community-based organizations that have demonstrated exemplary effort and commitment in providing housing and economic opportunities for families and communities. Bank President David Reynolds stated, "Our bank is proud to be a member institution and use our relationship with the Federal Home Loan Bank to support our local chapter of Habitat for Humanity."
The Affordable Housing Program (AHP) was created to help provide affordable housing for low and moderate income residents. Since inception in 1990, the Federal Home Bank has contributed $266 million for the creation of nearly 42,000 housing units through its AHP.
Temporary Liquidity Guarantee Program
Our institution has chosen NOT to participate in the FDIC's Transaction Account Guarantee Program. Our customers with non-interest bearing transaction accounts will continue to be insured through December 31,2013 for up to $250,000 under the FDIC's general deposit insurance rules. Not one penny of insured deposits has ever been lost by a customer of a federally insured bank. Only federally insured institutions can make this statement, "backed by the full faith and credit of the United States government."
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© 2008 Peoples Bank of the South. All rights reserved. Equal Housing Lender. Member FDIC.