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In an
agreement made with the FDIC late Thursday the Lincoln bank agreed
to assume all assets and deposits of the failed John Warner Bank.
Steve
Aughenbaugh, President of State Bank of Lincoln stated, “State Bank
of Lincoln
now has
assets of over $250 million, has a very strong capital base, and has
been around
since
1904. It has earned the highest ratings possible from both
bankrate.com and Bauer
Financial. Both organizations rate banks primarily based on their
capital, earnings and asset quality. At the end of 2008 State Bank
of Lincoln had 10.9% of Tier 1 capital. This is more than twice the
amount of capital needed for bank regulators to consider it to be
well capitalized.”
Aughenbaugh concluded by saying “The John Warner Bank has a lot of
fine people working for it, and we are glad to have them as part of
our team.”
[Text from file received from State Bank of
Lincoln]
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