NORFOLK, Neb. -- After the failure of Silicon Valley Bank and Signature Bank, many wondered if stronger headwinds could follow across the whole U.S. banking system.

President and CEO of the Nebraska Bankers Association Richard Baier said that Nebraskans can continue with full confidence in their deposits in regional and national banks.

"We're talking about a much different environment," he said. "Those institutions have very different business models than our banking community does in the state of Nebraska."

Rep. Mike Flood of Nebraska’s first district echoes a similar sentiment, saying that Nebraska banks don’t actively operate in the volatile industries that led these banks to failure.

"What happened at Silicon Valley Bank and Signature Bank, not good," he said. "But it does not impugn the rest of our system. Nebraska banks are very safe."

Flood, who sits on the U.S. House Committee on Financial Services said an investigation into these banks will probe how regulators didn’t catch warning signs of failure.

Baier said he believes Nebraska remains in one of the best positions, with banks that experience controlled growth, invest in a diverse set of industries, and are regulated heavily to ensure smart business practices are maintained.

"We (Nebraska banks) aren't concentrated in any one industry," he said. "That concentration matters and is a reflection of Nebraska's diversified, strong economy."

Mike Flood is the founder and an owner of Flood Communications and News Channel Nebraska.