FDIC Federal Register Citations

From: Robert Gorsuch
Sent: Tuesday, November 11, 2008 10:03 AM
To: Comments
Subject: TLGP RIN #3064-AD37

I have serious reservations about the impact on our small, community bank with what may come out of the TLGP program and how it would impact our ability to borrow overnight Fed Funds and the associated cost to do so.

We rarely use overnight funds.  But during heavier needs for credit to serve our businesses and consumers, we do so occasionally.  It is an important part of our liquidity planning.

We are a shareholder and client of Bankers’ Bank of Wisconsin.  We want them to be able to continue to provide us with the correspondent banking services so important to us.  The Bankers’ Bank and we have developed an efficient model to deal with liquidity needs and our preference is that it will continue.

The TLGP has a significant cost associated with it and we have always found an available market for overnight funds without the necessity of insuring such.  Why should we be forced to fund the costs of other operations?

We prefer the TLGP either be reduced in costs or is eliminated completely.

We are a well capitalized bank.

Robert C. Gorsuch
Chairman & CEOOak Bank
Fitchburg, Wisconsin