A Letter to Our Clients

To Our Valued Clients,

During this uncertain time, we would like to affirm Amboy Bank’s financial strength and commitment to our community.

Currently, the Bank is well-capitalized with strong earnings, asset quality, and numerous sources of liquidity. Since our founding over 135 years ago, we have seen World Wars, Depression, inflation, and the Great Recession; throughout, we’ve been committed to our clients and helping you protect your deposits. This commitment is reinforced by the fact that we are a privately held community bank and we do not have the same pressures as a publicly traded bank. 
Amboy Bank manages for the long-term. Banks have to make business decisions, and Silicon Valley Bank took too much of their short-term funds and invested them into long-term assets to enhance their returns. Amboy Bank has not engaged in this critical error. Our recent deposit growth was manageable, and we are conservative with our capital and your deposits.
Amboy Bank does not engage in high-risk investments. We do not invest in high-risk technology nor cryptocurrency.
Amboy Bank financials remain safe and sound. Our capital is significantly higher than the regulatory requirements for being considered well-capitalized. Our Tangible Common Equity (11.43%) is close to industry high and the Bank has over $450 million of short-term securities available to support any liquidity needs. (See our financials below) 

We are here to serve you. I, and the rest of the Amboy Bank executive management team, are available at any time to assist you if you have questions about the industry, the Bank or maybe how best to consolidate all your relationships at Amboy. We are honored to be a reliable partner in your financial journey, and we look forward to continuing to exceed your expectations in the years to come.

G. Gregory Scharpf
President and CEO
Amboy Bancorp Financial/Capital
As of December 31, 2022
(Numbers in thousands)
Cash $58,388
Securities $897,668
Due 1 Yr or Less $450,000
Due Greater than 1 Yr $447,668
Loans $1,568,557
Other Assets $194,392
Total $2,719,005
Liabilities and Equity
Deposits $2,306,729
Other Liabilities $130,497
Equity $281,779
Total $2,719,005
Key Numbers
Net Income $42,870
Loan to Deposits 67%
Bank Capital Ratios Actual Well-Capitalized
Tangible Common Equity 11.44% N/A
Leverage 11.49% 5%
Total Risk Based 16.62% 10%


Additional Resources

  • FDIC Deposit Insurance Coverage Overview
  • FDIC Deposit Insurance FAQs