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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, said: "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 percent 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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