First Financial Bank in Winnebago recently discovered and reported a small number of account irregularities and misappropriations made by a former employee.
First Financial Bank, Winnebago President Bill Erickson released the following statement, “While 99% of our customers and deposits were unaffected by these events, those that are will be made whole with interest. Bank services and operations are unimpacted and will continue to run smoothly and efficiently for customers.
The Bank has many internal and external safeguards in place to protect customer’s accounts, including regular audits and examinations by federal regulators, but even robust protective measures are not failsafe. We have implemented additional account monitoring measures in the wake of this incident. We have reported the case to federal banking authorities and law enforcement, where active investigations are underway. The Bank continues to support and cooperate with these investigations.”
Erickson went on to say, “Our customers are our neighbors, friends and family. We apologize to those who have been affected. To all those we serve and the community at large, we take this matter seriously and will do everything in our power to maintain the trust we have earned. In order to protect the integrity of the ongoing investigations, First Financial Bank in Winnebago is unable to provide more details at this time but will continue to work closely with bank customers to address any account questions they may have.
Read the entire statement here