Notice from Rick Parks, President & CEO – Silicon Valley Bank & Signature Bank – 3/14/2023

First National Bank of Waterloo Customers:

With the news in the past few days related to the collapse of Silicon Valley Bank (SVB) in California and closing of Signature Bank in New York, we want to reinforce your confidence in the safety and stability of First National Bank of Waterloo.  Your money is safe with us because we are significantly different from either of these two institutions.

The reasons for the failures of both banks do not apply to First National Bank of Waterloo.  Our liquidity remains strong with most of our deposits being FDIC insured or secured, which was not the case with either failed bank.  Furthermore, both banks held concentrations in loans and deposits in one or two industries.  Our bank is well diversified in both our deposit customer mix as well as in our loan portfolio.  We are a strong community bank with thousands of individual and business customers representing many different industries and employers throughout our bank’s geographic footprint.  Lastly, our capital levels put us in the “well capitalized” classification as defined by our banking regulators, the highest capital rating possible.  Our financial strength has been built through many turbulent economic seasons over the past 110 years with a sound business strategy of conservative banking.  That focus will never change!

As you know, there has been significant media hype and propaganda surrounding the SVB and Signature Bank failures and we want to reassure you that the majority of banks today are safe and secure places to hold your hard-earned money.  First National Bank of Waterloo is no exception.  You can rest assured knowing that you bank with a strong, stable community bank and your deposits carry FDIC insurance.  We stand ready to serve the financial needs of our communities just as we have done the past 110 years.

Rick R. Parks

President & CEO

Notice from the Office of the Comptroller of the Currency (OCC)

The OCC has been informed that an entity using the name “FNB” is misrepresenting itself as a national bank. While the entity may represent that they are affiliated with a legitimate financial institution, they are not. This fictitious entity has been robocalling and robotexting consumers to obtain information to likely perpetrate identity theft.

First National Bank of Waterloo has interchangeably used FNB since its existence, and because of that, we want to make sure our customers are aware of this warning. We know this name is familiar to you, and we don’t want you to let your guard down because of that. We want to reinforce that you should never respond to text, emails or calls wanting personal information.

We want to assure you that this notice from the OCC is a national notice and was published all across the country. This has no direct correlation to First National Bank of Waterloo, and they are not specifically targeting our customers. As of now, we’ve not had any reports from our customers of calls or texts representing this entity. Due to the familiarity of the name, though, we wanted to be proactive with our customers and make sure they are aware of the scam.

If you receive any correspondence claiming to be from FNB, hang up, and contact us at 888.231.3165 to report the issue. It is also encouraged by the OCC that consumers that have been victimized file a complaint with several agencies. For this information and for the full notice from the OCC, please read here.

Security Reminders

As a reminder, never respond to requests for personal information unless you initiated the conversation yourself. First National Bank of Waterloo will never ask you to provide confidential information (your account number, Social Security Number, debit card number, PIN number, online banking login information, etc.) in emails or by a phone call to you. If you receive communication asking for this information, just hang up or delete the email!

Remember that cyber criminals can try to reach you via text messages too. Do not respond to unsolicited text messages. If you receive a text message claiming to be from the bank and asking for information, do not respond and contact the bank to report it.

Additionally, if you receive an email from the bank stating that your email address or password has been changed and you have not changed it, please contact the bank immediately to report it. You can contact us at 888.231.3165 or by sending an email to

As always, thank you for choosing First National Bank of Waterloo!

Scams involving Economic Impact Payment checks

With many Americans receiving Economic Impact Payment checks (also referred to as stimulus checks),  scammers are using this as another opportunity to attempt to trick consumers, using tactics like sending counterfeit checks and making phishing attempts.

Some people are receiving these funds directly deposited into their bank account, while some will get a paper U.S. Treasury check in the mail. If you get a paper check, be sure to look for security features like the U.S. Treasury seal, microprinting, bleeding ink and a U.S. Treasury watermark.  If you have concerns about the check that you receive, please contact us toll-free at 888.231.3165 and we can help you verify it.

Anyone who offers early or faster payment in exchange for personal information is most likely a scammer.  Do not let them persuade you otherwise.  Other scams are centered on the possibility of receiving financial assistance from the government, and some scammers are pretending to be from the Social Security Administration to try to get access to your Social Security number or your money.

Tips to stay safe from phishing

  • Be cautious of anyone attempting to prey on your emotions by using fear or threatening messages. Emails may contain urgent-sounding messages that can make you think you need to act quickly. This is a common tactic of phishers and could indicate an attempt to gain access to your information.
  • Use extreme caution with emails containing links. Clicking a link in a phishing email may direct you to a fraudulent site – or worse, install malware on your device. Be sure to fully examine the message and sender before opening any included links or other content.
  • Watch for misspelled words. Phishing emails often contain bad grammar and misspelled words, occasionally misspelling the name of the company they’re attempting to imitate or intentionally excluding one or two letters to make it look legitimate and close to the right spelling.
  • Do not provide confidential information. Never respond to requests for personal information unless you initiated the conversation. We will never ask you to provide confidential information (your account number, Social Security number, password, your debit card number, PIN number,  online banking login information, etc.) in emails or by a phone call to you.
  • Remember that cyber criminals can try to reach you via text messages too. All of the email tips mentioned in this list also apply to unsolicited text messages that you might receive. Watch for messages that contain pushy tactics or use bad grammar and misspelled words.

Some other sources of information include:

American Bankers Association – Protect your Economic Impact Payment: Top 5 Scam to Watch Out For

IRS Warning About Coronavirus-Related Scams

Avoiding SSA (Social Security Administration) Scams During COVID-19

American Bankers Association: Tips to Avoid Coronavirus Scams and Protect Your Money

FTC: Avoiding Coronavirus Scams


Equifax Security Breach Information

Equifax had personal information compromised for approximately 143 million U.S. consumers due to a system breach. The information included names, social security numbers, birthdates, addresses and in some cases drivers license numbers. Equifax set up a dedicated website,, where you can check if your information was compromised. From the website, click on “Potential Impact” and put in the information required. The website also has FAQ’s regarding the incident.

Same Day ACH Debits

Effective Friday, September 15th, 2017, direct payments authorized online, over the phone, or written checks converted to electronic debits, could post to your account the same day they are authorized.  This is a new rule governing all direct payments and affects all financial institutions, including First National Bank of Waterloo.

Payments that in the past may have taken one or two days to post, can now post the same day they are made.  (Pre-authorized drafts or recurring payments will continue to post on the effective date based on the transaction agreement.)  Please have the funds available in your account to allow for same day ACH posting to avoid overdraft fees and return items.  We encourage you to utilize the services we offer to help manage your account, such as FNBonline Banking, Mobile Banking and our 24-hour telephone banking, Dial-A-Bank.   If you are not currently enrolled in any of these services, please feel free to contact us and someone will be happy to assist you.

Thank you for banking with First National Bank of Waterloo.  We value and appreciate your business!


Consumer Alerts

FDIC Consumer Alerts
FDIC Consumer News and Information
FDIC Consumer Protection
Health Insurance Marketplace Fraud
IRS Tax Scams/Consumer Alerts
Federal Trade Commission Scam Alerts

Security Tips

Click here to read some interesting security tips about home burglaries.  You may think twice about some things you do every day after reading these tips!

Types of Fraud
Best Practices to Protect Yourself
Fraud FAQs

Below are the latest fraud alerts and security recommendations:

Fraudulent “FDIC Notification” E-mail

Suspicious Emails Claiming to be from the FDIC

Online Job Posting Email Scam

NACHA Phishing Alert

Don’t Be Scared of ‘Scareware’

Please contact us at 618-939-6194 if you become aware of a scam or believe you are a victim of any of these types of fraud.  You may also contact us if you have any questions regarding fraud.

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