Authorities are investigations a small number of account irregularities and misappropriations recently discovered at First Financial Bank in Winnebago.
In a press release issued Friday morning, bank president Bill Erickson says the transactions were made by a former employee.
“We want to thank our dedicated staff who worked quickly to help identify the responsible party and our loyal customers, including those affected individuals who have helped us gather evidence and are supporting the ongoing investigation,” says Erickson.
The incident has been reported to federal banking authorities and law enforcement, where active investigations are being conducted.
“While 99 percent of our customers and deposits were unaffected by these events, those that are will be made whole with interest,” Erickson says.
First Financial has many internal and external safeguards in place, he says, to protect customers’ accounts.
“We have implemented additional account monitoring measures in the wake of the incident,” he adds.
Because banking services and operations have not been impacted, they are expected to continue running smoothly and efficiently.
Erickson apologizes to customers who may have been affected and says, “As a 150-year-old, family-owned local business, customer trust isn’t just a priority, it is our core business model.
“Our customers are our neighbors, friends and family. To all those we serve and the community at large, we take this matter seriously and will do everything in our power to maintain the trust we have earned.”
Anyone wanting more information may contact Erickson at bill.erickson@1stbago.com.