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The Coronavirus Aid Relief Economic Security Act (CARES Act)

 

The Coronavirus Aid Relief Economic Security Act (“CARES Act”) was signed into law on the afternoon of Friday, March 27th.  Contained within that Act are provisions which authorize the Paycheck Protection Program which is a federally guaranteed loan program funded and administered by commercial banks.  Friendly Hills Bank will be a participant in this program and will provide local businesses with information on how to obtain these loans through us as soon as we receive direct guidance from the United States Treasury Department.  Please stay tuned to this website for additional information as it becomes available in the coming weeks.

We take the health and safety of our employees and clients very seriously and continue to closely monitor the current health concerns related to the Coronavirus-19.  Our offices are open from 9am to 3:30pm every business day to handle your banking needs but for the safety of our on-site employees we are limiting public access to the entry areas of each office.  Your understanding and cooperation is greatly appreciated.

Clients that have not registered for our online and mobile banking services are encouraged to do so.  Simply call one of our offices during business hours and we will help you with the process. We also have a night drop facility at our Whittier Office where you can safely and securely make deposits to your account at any time day or night.  Simply place your transaction in a sealed envelope and our staff will process your transaction the next business day under dual control.  Many of the basic banking services which you need can be provided through these alternative access points eliminating the need to come into one of our offices.

Our employees are being encouraged to stay home if they have health symptoms which could put others at risk and we ask our clients to do the same.  This could result in periods in which our offices have fewer staff members available to serve you and we appreciate your patience.  Together we can all protect each other by limiting physical contact and taking appropriate personal hygiene actions to minimize the potential spread of dangerous germs.  Being a client-focused company these are difficult standards for us to employ and we look forward to going back to normal operations as soon as conditions warrant.

The banking system as a whole is in very good shape and Friendly Hills Bank in particular is in great shape.  We have always operated well above regulatory guidelines for capital and have strong liquidity to support the continued funding of loans and to meet the needs of our depositors.  Although many of our staff members are working remotely for health and safety reasons they are all highly engaged in the operations of the bank and continued service to our clients.  We continue to monitor conditions and are here to serve you.  For those clients who have questions regarding government support services during this time please feel free to reach out to one of our offices.  Thank you for your continued cooperation and understanding.

Jeffrey Ball

President/CEO

Friendly Hills Bank

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