Confusion over Similar Names - No Confusion over Good Health of AZ Bank
PHOENIX, Oct. 10 /PRNewswire/ -- An Arizona Bank with more than $2 billion
in assets has had some phone calls from customers concerned that their
Meridian Bank (of AZ) is the same bank as one that was closed by regulators in
Illinois.
"We can understand the confusion," said Meridian Bank (of AZ) Chairman and
CEO Doug Hile. "While we share a name, that's where the similarities end. We
are owned by a family that has been in the banking business since the 1950s.
The bank's owners, the Pohlad family, own diverse investments including the
Minnesota Twins of Major League Baseball. With substantial capital they can
see us through a challenging economy."
Meridian Bank of Arizona has a 30 year history in the Valley with nine
branches serving several thousand customers.
"One thing to emphasize is that all of the deposits of banks are protected
by the FDIC -- Federal Depository Insurance Corporation -- up to $250,000 or
more per account owner depending on the titling," said Hile. "That's what
should give folks with money in the bank assurance more than anything else."
For more information on Meridian Bank of Arizona, please contact
Jason Rose or Jim Sharpe.
SOURCE Meridian Bank of Arizona
Jason Rose, +1-602-791-4488, jrose@roseandallynpr.com, or Jim Sharpe,
+1-602-363-4780, jimsharpe@roseandallynpr.com, both of Rose and Allyn Public
Relations, for Meridian Bank of Arizona
