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Navigating Economic Risks and Continuing to Serve Our Community

by Matthew | Mar 27, 2023 | News & Announcements

Park State Bank & Trust Position Statement As a local community bank, we hold ourselves accountable to all our stakeholders which includes our shareholders, board of directors, community, businesses, individuals, families, and bank regulators. Our shareholders...

Failures Friday of SVB (Silicon Valley Bank) and Signature Bank in New York

by Matthew | Mar 13, 2023 | News & Announcements

Re: Failures Friday of SVB (Silicon Valley Bank) and Signature Bank in New York As a community bank, Park State Bank & Trust remains well-capitalized and stronger than we have ever been, serving you and our community since 1965. As a community bank, we take pride...

Paycheck Protection Program (PPP) Update – 05-04-2021

by Matthew | May 4, 2021 | News & Announcements

As of May 4th, the SBA depleted all funds for PPP lending and abruptly shut the application portal. We are no longer accepting new applications for PPP funds. Should Congress decide to allocate more funds to this program, we will reopen the application process....

Paycheck Protection Program (PPP) Update – 03-23-2021

by Matthew | Mar 23, 2021 | News & Announcements

The PPP round 2 is scheduled to close on March 31st! FORGIVENESS – For first-round loans, all borrowers have been sent a forgiveness application to sign electronically. The SBA has forgiven 100% of the loans applied to date. TAX IMPLICATIONS – You need to work...

Paycheck Protection Program (PPP) Update – 01-11-2021

by Matthew | Jan 11, 2021 | News & Announcements

The PPP reopened Monday, January 11, 2021! FORGIVENESS – For loans under $150,000 there will be a new one-page form to sign for complete forgiveness. The SBA has until January 20th to release this form, so it is NOT available this week. Just as soon as it is...
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Recent Posts

  • Navigating Economic Risks and Continuing to Serve Our Community
  • Failures Friday of SVB (Silicon Valley Bank) and Signature Bank in New York
  • Paycheck Protection Program (PPP) Update – 05-04-2021
  • Paycheck Protection Program (PPP) Update – 03-23-2021
  • Paycheck Protection Program (PPP) Update – 01-11-2021

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