First Exchange Bank Named Industry Leader

The Independent Community Bankers Association (ICBA) has named First Exchange Bank as a “Top 10” industry performer in relation to equity.

First Exchange Bank was recognized for posting one of the 10 best year-end performances in 2007 for ICBA member banks with $100 million to $250 million in assets. William Goettel, President and CEO of First Exchange Bank, reported that “there are approximately 850 banks in the United States in this category and we are honored to be in the top 10.”

“Community banks, such as First Exchange Bank, are integral to the economic and civic fabric of thousands of towns and cities across America,” said Brent Skidmore, First Exchange Bank’s Senior Vice President/Business Development Officer. Skidmore further stated that “our success can be attributed to our desire to deliver excellent customer service every time.”

Goettel reported that “with the Subprime lending concerns, banking crisis, and stock market meltdown; recent news reports and commentaries have raised concern about the safety of deposits in community banks. These are the facts: First Exchange Bank customers’ insured deposits are safe in their accounts. No one has ever lost a penny of deposits insured by the Federal Deposit Insurance Corporation held in commercial banks. The FDIC has recently significantly increased the insurance limits. Those concerned about FDIC insurance should visit one of our local branches, and we can assist in evaluating their needs.”

Goettel further reported that “First Exchange Bank is a common sense lender, well capitalized, well-regulated and more risk averse than larger banks. We remain strong, safe and stable. This along with excellent customer service is the cornerstone of our Top 10 rating.”

First Exchange Bank is celebrating over 75 years in business and currently serves customers in north central West Virginia with branch offices in Mannington, Fairmont, Fairview, Barrackville, Hundred, Morgantown, and online at www.firstexchangebank.com.