A New York Times article with the headline “Smaller banks are scrambling as share prices plunge” might have some Kentucky bankers, customers and investors worried. However, John Soper who spent 43 years in the banking industry in central Kentucky, said Kentucky banks should be OK because they’re funded primarily by community members.
“Even our largest banks in Kentucky, like a Community Trust, or a Central Bank, or, you know, banks in Northern Kentucky, they primarily are funded by their depositors, who all fall under the $250,000 FDIC insurance level.”
