Dear C&F Customers:
We take the responsibility to protect your hard-earned money very seriously and I wanted to send you a personal message given the collapse of Silicon Valley Bank in California, Signature Bank of New York, and the resulting media coverage that has unsettled financial markets. Silicon Valley Bank, in particular, experienced a significant outflow of customer deposits after sustaining large losses in its investment portfolio and a subsequent exodus of many deposit customers.
In contrast, C&F Bank and the overall U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth.
  • C&F is and has been among the most strongly capitalized banks in the country for over 95 years with a consistent record for financial performance, customer service, and prudent decision making.
  • Our deposits, unlike those of the banks that collapsed in recent days, represent a broad customer base of individuals and businesses here in Virginia, and have no exposure to high-risk “crypto-currency” investments.
  • We have consistently exceeded requirements to be considered well capitalized by Federal regulators and, although highly unlikely, C&F has additional access to significant sources of liquidity should the need arise.
  • We have earned the highest possible rating by Bauer Financial – five stars – for financial strength and performance amongst banks nationwide. Bauer Financial is completely independent. It does not get paid to rate any institution, nor can any institution avoid its rating.
Strong as our bank is, I still understand that you, our customer, may have concerns about these recent developments and how we will continue to protect your financial security just as we have for so many years. Please visit any of our branches or call our Customer Support Team at (800)296-6246 and we’ll be happy to assist you, including advice on maximizing your FDIC coverage.
Thank you for your business and being a part of the C&F family.
Tom Cherry Signature
Tom Cherry, President & CEO



Understanding Deposit Insurance
FDIC Deposit Insurance FAQs
FDIC Calculators

 FDIC Insurance Important Facts

The FDIC is an independent agency of the United States government. It, along with other federal and state regulatory agencies, regularly review all FDIC-insured banks, such as C&F Bank, to ensure standards are met. It’s also the FDIC’s role to preserve and promote the public confidence in the U.S. financial system by insuring deposits in financial institutions.

Why is FDIC insurance important to you? FDIC insurance protects deposits from loss up to the FDIC insurance limit, including principal and accrued interest. Deposits include checking accounts, NOW accounts, savings accounts, money market accounts, individual retirement accounts (IRAs) and certificates of deposit (CDs).

Understanding FDIC Insurance Coverage. The standard insurance amount is $250,000 per depositor, per insured bank, for each ownership category. This means that by having accounts in different ownership categories, like single accounts and joint accounts, you can get more than $250,000 in coverage. You can calculate your current coverage amount using the FDIC's Electronic Deposit Insurance Estimator (EDIE). If your balance is higher than your current FDIC insurance coverage amount, consider these strategies to maximize your coverage:

  • Open a single account for each adult family member. If you and your spouse or partner each have a single account insured up to $250,000, together, you’ll have a total of $500,000 coverage.
  • Pool your money into joint accounts. Joint accounts are insured separately from accounts in other ownership categories, up to a total of $250,000 per owner. This means you and your spouse can get another $500,000 of FDIC insurance coverage by opening a joint account in addition to your single accounts. And adding another joint account owner—like a parent—adds another $250,000 in coverage, and so on.
  • Save for your child. You may be able to get an additional $250,000 of coverage for your family by opening a custodial account (also known as a Uniform Transfers to Minors Act or Uniform Gift to Minors Act account) in a minor’s name. For insurance purposes, the FDIC treats these as single accounts owned by the minor. 
  • Save for retirement with an IRA Online Savings Account or IRA CD. In addition to helping you plan for your future, a retirement account can help you increase your FDIC insurance coverage — retirement accounts are insured up to $250,000.
  • Add beneficiaries to your accounts. You can increase your FDIC insurance coverage by creating a payable-on-death account (also known as an informal trust, in-trust-for, or Totten Trust account) or titling an account in the name of a formal revocable trust. For these account types, each unique beneficiary adds $250,000 of coverage up to FDIC limits. For example, a payable-ondeath account with 1 owner and 5 beneficiaries could be insured up to $1,250,000. 

EDIE the Estimator

An example of $1,250,000 in coverage:

Account Owner  Deposit Type  Account Balance


 Certificate of Deposit  $250,000 
 Jim  Money Market Account  $250,000 
 Jim & Mary  Savings Account   $500,000
($250,000 per person)
 Jim POD Kathy   IRA Account   $250,000 
Total Deposits   $1,250,000
 Amount Insured    $1,250,000

 *Additional coverage may be available to you depending on the ownership status of your account. This page is for informational purposes only. We don’t give legal, tax, investment, or financial advice. If you have questions about FDIC insurance, consult a financial professional or check out the FDIC’s educational materials. 

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