People keep talking about "It's a Wonderful Life," and it's not Christmas. Why? Because it's the freshest memory most of us have of a run on a bank... until lately. The recent troubles of Silicon Valley Bank and Signature Bank showed once again that banks and their regulators have not planned for every contingency.
15 years after the subprime mortgage crisis and the Great Recession, we're looking anew at the places and people that store money. Medford-based People's Bank of Commerce, like many banks, has been answering more than the usual number of questions from customers about solvency and other issues.
CEO Ken Trautman and President Julia Beattie visit to answer our questions, and to talk about seeing their bank to its recent 25th birthday.