In light of recent industry events over the last few days, we want to reinforce your confidence in the safety and stability of Central Bank. For more than 120 years, Central Bank has held true to a community banking model that is grounded in basic principles designed to keep our liquidity strong and protect us from the impact of an economic downturn. We have weathered every financial crisis, including the Great Depression in the 1930s and the Financial Crisis of 2008. Moreover, our conservative financial management practices keep our capital and reserves well above industry norms.
The specific reasons for the failure of both Silicon Valley Bank and Signature Bank do not apply to Central Bank. Our liquidity remains robust with the vast majority of our deposits remaining insured and secured, which was unfortunately not the case with these two institutions. Additionally, we are well-diversified without any over concentration in a specific sector or funding source. And lastly, our total capital ratio is twice the regulatory requirement and at least 1.5 times higher than those of our peer financial institutions.
Our bank ended 2022 extraordinarily strong due to our disciplined and customer-centric approach. This approach has put us on the Forbes Best Banks list for 14 consecutive years.
While the media has been highlighting negative stories pertaining to the banking industry, we would like to reassure our customers that the majority of banks today are indeed safe and secure places to entrust your funds. It is natural for the financial markets to experience fluctuations from time to time; however, we remain confident that the industry will stabilize quickly and remain strong. In the meantime, we want to emphasize that your money is secure and protected in our care at Central Bank. We pride ourselves on our steadfast commitment to the financial well-being of our customers and stand ready to assist them in achieving their financial goals.
S. Bryan Cook
Chairman & CEO