How is Legacy Bank doing?

Written by admin   // December 23, 2010   // 0 Comments

Compiled by MCJ Staff

We’ve had some tough times recently but we’re optimistic about the future.

We are actively working to raise capital for the bank and we’ve had a positive response from institutional investors throughout Milwaukee and the country.

Based on the positive interest we’ve received, we are optimistic we will be able to secure and infuse a significant amount of capital into the bank.

We are accepting deposits and making loans on a daily basis and will continue to do so.  In the past 10 years we have successfully provided financing to more than 500 small and medium-sized businesses.

We’re an important community bank in Milwaukee that’s focused on serving individual customers, small and medium-sized businesses, entrepreneurs and the Milwaukee community.

What about the recent newspaper articles?  It sounds like the bank is about to close.

Legacy Bank is not closing.  We have been conducting business for the past 10 years and are looking forward to the next 10 years.

Each day, we are working with our consumer and commercial clients to provide banking services.

You can come to Legacy Bank to open a savings or checking account, apply for a loan, set up an IRA or secure any other banking services you might need.

We’ve had a good response to our capital campaign so we’re optimistic about the bank’s future.

Is my money safe at Legacy Bank?

Absolutely, your money is safe at Legacy Bank.  Legacy Bank’s deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000.

Legacy Bank also participates in the Temporary Liquidity Guarantee Program (TLGP).

The TLGP program allows deposits held in noninterest-bearing transaction accounts to be fully insured, regardless of the amount in the account.

Legacy Bank is a leader in Wisconsin.  In fact, we are the only bank in the state to have received the United States Treasury Department’s Community Development Financial Institution (CDFI) designation.

Combined with the efforts of a dedicated board of directors, management team, and staff, the CDFI designation assists Legacy Bank in being a leader and innovator in community banking.

What’s next for Legacy Bank?

The future is bright for Legacy Bank.  We plan to continue our focus as an innovative and leading community bank.

During our 10 years, we’ve financed more than $200 million in small business, commercial and home loans, leading to more than 6,000 jobs and creating an economic base that didn’t exist previously.

We will continue to serve the needs of individual customers, small and medium-sized businesses, entrepreneurs and the Milwaukee community.

If you’d like to learn more about Legacy Bank and our banking services, visit us at 2102 W. Fond du Lac Avenue, call 414-343-6900 or visit www.legacybancorp.com.


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