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    Gov. Justice awards $9.7 million in trails program grants across West Virginia, including over $1.6 million for Greenbrier County projects

    Lewisburg City Council to meet in special session June 2

    Lewisburg City Council announces that river trail will be fully open this summer

    WVSOM students achieve 100% residency placement

    WVSOM students achieve 100% residency placement

    City of White Sulphur Springs offering free spring pickup

    City of White Sulphur Springs offering free spring pickup

    A backhoe operator works his machine atop a pile of debris, as he pulls down the walls of the old Seneca Health building in downtown Lewisburg. Photo by Sarah Mansheim

    Crews demolish old Seneca Health building, municipal parking lot to be built

    A vehicle crashed into City National Bank in Rupert on Saturday, March 18.

    Vehicle crashes into City National Bank in Rupert

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    Annie Whited in mid run during her overall high scoring day in Pikeview (Photo by Meredith Whited)

    Gbr East Girls Track Team Places 2nd Overall in Pikeview Meet

    Josi Ervin, pictured here in a game earlier this week, struck out 13 Woodrow hitters in East's 2-1 win. (Photo by Photography by Maddi Richmond)

    Josi Ervin shines as East beats Smallwood, Beckley

    Marcus Constantino / Courtesy Mister Bee Potato ChipsThe James Monroe Mavericks celebrate with the state championship trophy after the West Virginia boys single-A championship game at the Charleston Coliseum and Convention Center, Saturday, March 18, 2023, in Charleston.

    James Monroe: 2023 Class A WV state champions

    Smoot Field after Renovations

    Locals rebuilding fields for Western Greenbrier Little League

    Greenbrier East's 8 seniors on senior night (Photo by Fly304 Productions)

    Greenbrier East boys’ basketball 2023 recap

    Ian Cline (21) (Photo by Greenbrier East football social media)

    Spartans’ Ian Cline named top 5 RB in state

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    Greenbrier County Commission to meet March 28

    WSS City Council hears pedestrian bridge concerns; police chief warns about vehicle break-ins

    White Sulphur Springs City Council to meet March 13

    Greenbrier County Commission to meet Monday, March 13

    A Greenbrier County grand jury handed up the following indictments in Greenbrier County Circuit Court on June 9.

    Greenbrier County Board of Zoning Appeals to meet March 7

    Ronceverte Woman’s Club to hold candidate forum

    Ronceverte City Council to meet March 6

    Lewisburg Parks Commission to meet March 7

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    Gov. Justice awards $9.7 million in trails program grants across West Virginia, including over $1.6 million for Greenbrier County projects

    Lewisburg City Council to meet in special session June 2

    Lewisburg City Council announces that river trail will be fully open this summer

    WVSOM students achieve 100% residency placement

    WVSOM students achieve 100% residency placement

    City of White Sulphur Springs offering free spring pickup

    City of White Sulphur Springs offering free spring pickup

    A backhoe operator works his machine atop a pile of debris, as he pulls down the walls of the old Seneca Health building in downtown Lewisburg. Photo by Sarah Mansheim

    Crews demolish old Seneca Health building, municipal parking lot to be built

    A vehicle crashed into City National Bank in Rupert on Saturday, March 18.

    Vehicle crashes into City National Bank in Rupert

    Trending Tags

    • Lewisburg
    • Alderson
    • White Sulphur Springs
    • Rainelle
    • Ronceverte
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    • Beckley
    • Smoot
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    Annie Whited in mid run during her overall high scoring day in Pikeview (Photo by Meredith Whited)

    Gbr East Girls Track Team Places 2nd Overall in Pikeview Meet

    Josi Ervin, pictured here in a game earlier this week, struck out 13 Woodrow hitters in East's 2-1 win. (Photo by Photography by Maddi Richmond)

    Josi Ervin shines as East beats Smallwood, Beckley

    Marcus Constantino / Courtesy Mister Bee Potato ChipsThe James Monroe Mavericks celebrate with the state championship trophy after the West Virginia boys single-A championship game at the Charleston Coliseum and Convention Center, Saturday, March 18, 2023, in Charleston.

    James Monroe: 2023 Class A WV state champions

    Smoot Field after Renovations

    Locals rebuilding fields for Western Greenbrier Little League

    Greenbrier East's 8 seniors on senior night (Photo by Fly304 Productions)

    Greenbrier East boys’ basketball 2023 recap

    Ian Cline (21) (Photo by Greenbrier East football social media)

    Spartans’ Ian Cline named top 5 RB in state

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    Greenbrier County Commission to meet March 28

    WSS City Council hears pedestrian bridge concerns; police chief warns about vehicle break-ins

    White Sulphur Springs City Council to meet March 13

    Greenbrier County Commission to meet Monday, March 13

    A Greenbrier County grand jury handed up the following indictments in Greenbrier County Circuit Court on June 9.

    Greenbrier County Board of Zoning Appeals to meet March 7

    Ronceverte Woman’s Club to hold candidate forum

    Ronceverte City Council to meet March 6

    Lewisburg Parks Commission to meet March 7

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Gov. Justice awards $9.7 million in trails program grants across West Virginia, including over $1.6 million for Greenbrier County projects

March 24, 2023
Annie Whited in mid run during her overall high scoring day in Pikeview (Photo by Meredith Whited)

Gbr East Girls Track Team Places 2nd Overall in Pikeview Meet

March 24, 2023
Charles Benton “Benny” Elmore

Obituary: Charles Benton “Benny” Elmore, 87

March 24, 2023
Shanté Ellis

Community conversations on diversity continue with Shanté Ellis 

March 24, 2023
Area students named to New River CTC president’s and dean’s list students

Fantastic Fridays writing workshop planned at New River CTC 

March 24, 2023

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W.Va. state treasurer confirms no Silicon Valley Bank exposure, expresses confidence in state’s regional and community banks

WV Daily NewsbyWV Daily News
in State News
March 17, 2023
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CHARLESTON, W.Va. (WVDN) – On Tuesday, March 14, State Treasurer Riley Moore confirmed the West Virginia Board of Treasury Investments, which manages the $10 billion consolidated fund of short-term investments for the state and local governments, has no exposure to Silicon Valley Bank or other recently failed banks.

“I want our taxpayers to rest assured we did not have any funds or holdings invested in Silicon Valley Bank or the two other high-profile bank failures, Silvergate and Signature Bank,” Moore said. “Our Board of Treasury Investments works with well-respected investment management firms and maintains a rigorous credit process and extremely conservative approach with our investments. Our citizens can have confidence their public dollars are invested in a safe and secure fashion.”

Moore said the Board of Treasury Investments and his office are closely monitoring the situation in the national banking system. He believes West Virginia’s banking sector – particularly the regional and community banks that serve the state – will be largely unaffected by the Silicon Valley Bank fallout.

“I have absolute confidence in the regional and community banks that serve our state,” Moore said. “These banks are based in our communities and do a tremendous job of protecting consumer and business assets and managing risk in the interest rate markets.”

Moore said the Silicon Valley Bank collapse was an extreme circumstance that left that bank and those closely tied to it especially vulnerable.

“Silicon Valley Bank did an extraordinary amount of lending in the high-risk venture capital and technology space,” Moore said. “As the Fed hiked interest rates and tightened financial conditions in response to the extreme inflation of recent years, this bank simply could not keep up with the liquidity demands to adjust to this rising rate environment.”

Moore, who is running for Congress in 2024 to represent West Virginia’s Second Congressional District, also said the Silicon Valley Bank collapse exposed the risks of the Environmental, Social and Governance (ESG) movement in the banking sector.

“Silicon Valley Bank set lofty social goals of being carbon-neutral by 2025 and targeting diversity, equity and inclusion standards and lending practices, yet this company failed to employ a chief risk officer for the majority of 2022 as the Federal Reserve raised rates at the fastest pace in generation – a colossal failure for any lending institution,” Moore said. “This demonstrates what I and others have been saying for years: Banks need to return to being simply banks and focus on actual financial matters rather than subjective social and political goals. This is the best way to ensure our banking system remains sound and secure and reliably serves the people of our country.”

WV Daily News

WV Daily News

West Virginia Daily News has been serving Greenbrier and Monroe Counties since 1852.

Tags: BoardBusinessCharlestonCommunityFederalGovGovernmentLocalNYRiley MoorerunningSignature BankSilicon Valley BankStateUSVAVenture capitalWest VirginiaWV

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