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W W W. M A I N E B I Z . B I Z 15 A P R I L 3 , 2 0 2 3 F O C U S B A N K I N G / F I N A N C E / I N S U R A N C E "e Federal Reserve is trying to tame inflation and has jammed short-term rates up faster than they have in over 43 years of rate policy," he says. "at action is putting a strain on nearly all banks." On top of that, deposits are going down across the banking sector, giving banks less capital to manage through times of trouble, he says. "With the Fed poised to continue raising rates, we will see an increased liquidity crunch in the banking sector, as deposits tend to get scarce at this point in the economic cycle," he says. "Banks are all fighting over deposits, which is helping the deposit customer's interest rates that have been very low for a long time, but for banks it's more about maintaining deposit balances to keep the delicate balance that relies on trust, faith and stability in the system." Keeping their distance Seeking to distance themselves from the SVB debacle and ensuing bank failures, Maine banks wasted no time issuing public statements seeking to reassure depositors their money is safe. "We're here for you — and have been since 1875," Camden National Bank said in a LinkedIn post. "We bear no resemblance to the troubled banks in the news," Maine Community Bank posted. "We remain healthy, well-capitalized, diversi- fied and prepared to support your ongoing needs," Machias Savings Bank, told its LinkedIn followers. CEO Larry Barker commented, "Relax Mom, your money is safe." P H O T O / T I M G R E E N WAY Andrea Shaw, a lawyer with virtual law firm Practus LLP, boils down Silicon Valley's missteps as an "asset-liability mismatch." C O N T I N U E D O N F O L L OW I N G PA G E » POWERFUL Communication Skills! MAY 3 / 7:30–10:30AM / HANNAFORD HALL, USM, PORTLAND LEARN MORE AND REGISTER AT MAINEBIZ.BIZ/WLF23 WEDNESDAY, MAY 3 SP ONSORED BY MOD ER ATOR PA N EL IS T S Hear from a panel of female executives as they provide their unique experiences and perspectives on leadership. They will discuss ideas and solutions as it relates to powerful communication skills that have helped them succeed in their careers and as leaders. Quincy Hentzel Portland Regional Chamber of Commerce Meredith Strang Burgess: Burgess Advertising & Marketing Carolyn Nishon Portland Symphony Orchestra Leigh Saufley University of Maine School of Law Laura Shen Chief Diversity and Inclusion Officer, WEX FOLLOW U S @M AI NEBI Z #MBWLF23

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