All 4 Lobbies – November 19, 2008.  Silver Key's Giving Trees are now in the lobbies of all four The Bank at Broadmoor locations.  Simply select an ornament from the Giving Tree, purchase the gift, attach the ornament to the outside of the gift.  Place the gift back under the tree and light up the holidays for a senior in our community!

– November 18, 2008. 

FDIC Deposit Insurance Coverage
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC-insured funds.

FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit (CDs). FDIC insurance does not, however, cover other financial products and services that insured banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities.

There is no need for depositors to apply for FDIC insurance or even to request it. Coverage is automatic.

To ensure funds are fully protected, depositors should understand their coverage limits. The FDIC provides separate coverage for deposits held in different account ownership categories. The coverage limits shown in the chart below refer to the total of all deposits that an accountholder has in the same ownership categories at each FDIC-insured bank. The chart shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.

Basic FDIC Deposit Insurance Coverage Limits*

• Single Accounts (owned by one person) $250,000 per owner
• Joint Accounts (two or more persons) $250,000 per co-owner
• IRAs and certain other retirement accounts $250,000 per owner
• Trust Accounts $250,000 per owner per beneficiary subject to specific limitations and requirements
• Corporation, Partnership and Unincorporated Association Accounts $250,000 per corporation, partnership or unincorporated association
• Employee Benefit Plan Accounts $250,000 for the non-contingent, ascertainable interest of each participant
• Government Accounts $250,000 per official custodian
• Non-interest Bearing Transaction Accounts Unlimited coverage – only at participating FDIC-insured banks and savings associations **

* On January 1, 2010, the standard coverage limit will return to $100,000 for all deposit categories except IRAs and Certain Retirement Accounts, which will continue to be insured up to $250,000 per owner.

** Unlimited deposit insurance coverage is available through December 31, 2009, for non-interest bearing transaction accounts at institutions participating in FDIC’s Temporary Liquidity Guarantee Program.

If you have questions about FDIC coverage limits and requirements, visit www.myFDICinsurance.gov, call toll-free 1-877-ASK-FDIC or ask a representative at your bank.

– November 05, 2008. 

– October 27, 2008.  The Rotary Club of Broadmoor District (Colorado Springs) has been awarded the Presidential Citation for demonstarting how Rotary Shares its talents, skills, energy and resources in order to create a better world.  John Webster, Senior Vice President at The Bank at Broadmoor, is President of the Broadmoor District Rotary Club.

– September 03, 2008. 

College is back in session and your students are back on campus. Now is the time to come into The Bank at Broadmoor and open a College Savings Account for your favorite student:

· No minimum balance to open the account

· Minimum balance of $25.00 earns interest

· Subject to withdrawal fees, in excess of six

· Less than six electronic transfers per month incurs NO FEE

– August 05, 2008. 

The wave of doubt supported in the media about the potential failure of “banks” in our country is a very important issue for The Bank at Broadmoor to address with our customers. In order to assure you that The Bank at Broadmoor is a solid financial institution and a very safe bank to deposit and retain your personal and business funds, I felt compelled to write this letter.

No one has ever lost a penny of deposits insured by the Federal Deposit Insurance Corporation held in community banks. No one! (Barbara Walker, Executive Director, Independent Bankers of Colorado)

Let me personally assure you that The Bank at Broadmoor is well capitalized and positioned in this economy. We have adequate reserves and minimal delinquency and a very strong loan portfolio.

Banking capital, which serves as a buffer against any losses, is at historic highs. At year–end 2007, nationally, the industry held $1.35 trillion in capital plus $102 billion in reserves for a total buffer of $1.45 trillion, all to safeguard our deposits! (Statistics provided by Colorado Bankers Association) In Colorado, there are $81 billion in deposits, so our Colorado banks have plenty of resources to meet the lending needs in their communities.

Commercial banks in general have limited origination of subprime mortgages, don’t hold many in their loan portfolios, and don’t own significant mortgage backed securities. Since banks generally don’t deal much in this subprime market and to the extent that they do, banks do so with these distinctions: banks foster relationships and want “healthy” customers using many services; therefore, banks have cautious underwriting and promote customers’ financial health in good times and bad. Banks focus on long term relationships which prioritize customers’ financial health rather than maximizing profit from one or a few transactions. Banks have diversified loan and income sources resulting in strong balance sheets due to these long term and solid relationships. Bank relationships are based on trust. Banks earn trust and prosper as a result; without trust they don’t. Banks are heavily regulated with rigid capital requirements and are routinely examined to assure safe and sound banking practices.

In standard terms, we believe banks will be little impacted compared to many other parties by this subprime mortgage issue; furthermore, The Bank at Broadmoor does not hold any subprime real estate loans.

One final point is the difference between investment banks and commercial banks. Since “bank failures” have been highlighted in the media as a strong possibility in our country, it is important to understand that the media is generally referring to investment banks. Commercial banks provide financial services to their customers such as deposits and withdrawals of funds, loans and numerous other such services. An investment bank such as Bear Stearns is not a bank and does not provide these types of retail services.

You can rest knowing that The Bank at Broadmoor is a very solid financial institution and we look forward to continued strength and growth in our community during these challenging times. I encourage you to pick up our 2007 annual report the next time you are in one of our lobbies, and feel free to contact me with any questions you have.

Sincerely,

D. Edward Sauer

President/CEO

– August 02, 2008. 

The Bank at Broadmoor offers comprehensive wealth management services through an arrangement with Colorado State Bank and Trust. These services are provided by Trust Officer David Groe, CFP, CTFA and Portfolio Manager Marcia Kyral, CFA.

David and Marcia are proud to be local fiduciaries, held to the highest standards of care, providing clients with skill, dedication and expertise only experienced officers can deliver.

At The Bank at Broadmoor, you will receive personalized service with flexibility promising:

Ø A team approach – each account is assigned an administrator, portfolio manager and an assistant. This approach ensures that we can respond quickly to your requests and questions regarding your trust and investments. There is a full-time trust officer and portfolio manager in Colorado Springs to serve you specifically.

Ø Superior Capacity – we are faster and more responsive than larger institutions with no minimum investment on accounts.

Ø Technology – Technology is used as a tool, not a substitute for personal service.

With over thirteen years of experience in financial planning, trust administration and asset management, David Groe, CFP, CTFA is here to serve your financial needs. David’s primary area of expertise is within the estate, retirement planning, tax and investment planning arenas. David is also highly capable in working with your heirs to set expectations, keep your finances completely confidential and avoid contentious claims.

You can reach David Groe today at The Bank at Broadmoor, (719) 633-2695.

– May 21, 2008. 

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