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The failures of Silicon Valley Bank and Signature Bank became the second and third largest bank failures in history and is likely a warning of what’s to come. Although these are the first bank failures since 2020, bank failures typically come in waves.
Over 400 banks closed in the four years following the 2008 recession, which impacted many businesses and communities.
Bond portfolios and bank deposits have been devastated by rapidly rising interest rates. More bank failures are likely.
Proverbs 22:3 teaches, “The prudent sees danger and hides himself, but the simple go on and suffer for it.”
If your business has excess cash over the $250,000 FDIC insured amounts, or you are heavily dependent upon future bank loans, be warned, danger may be on the horizon.
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