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ICBA and QwickRate Add Credit Stress Testing to Preferred Service Provider Agreement

Mar 02, 2015

Orlando, Fla. (March 2, 2015)—Today, the Independent Community Bankers of America® (ICBA) announced that it has expanded the Preferred Service Provider agreement with QwickRate to add their fully automated Credit Stress Test report, which quickly assesses a community bank’s exposure to both major and local economic shifts and estimates their impact on earnings and capital ratios.

“Regulators have expressed to community bankers that under certain situations, stress testing can be a key component of sound risk management,” said Dan Clancy, ICBA executive vice president of services. “QwickRate’s Credit Stress Test allows bankers to focus their energies on the resulting contingency planning rather than information gathering and analysis.”

Using sophisticated algorithms and “what-if” modeling, QwickRate’s Credit Stress Test is able to assess a community bank’s exposure to adverse events in the marketplace. The test evaluates various loss scenarios that incorporate peer group experiences, the individual bank’s historic losses, and a “reverse test” that defines the losses necessary to close the bank. By measuring and controlling vulnerabilities, banks are better able to make adjustments and improve performance over time. The Credit Stress Test automatically incorporates data from the bank’s call report and provides a manual override that allows bankers to adjust assumptions to drive additional scenarios. Banks simply press a button to access a professional, examiner-ready report.

As a Preferred Service Provider for 13 years, QwickRate has served the community bank market through their non-brokered CD marketplace for funding and investing. More than 1,800 ICBA-member banks have benefitted from this service, leading to a combined savings on subscription fees of more than $1 million as a result of member discounts available through the program.

“Regulatory compliance is consuming ever-greater portions of community bankers’ time and focus, and stress testing is no exception,” said QwickRate President Shawn O’Brien. “We have always been committed to creating innovative processes and tools that help banks simplify a wide variety of tasks. The QwickRate Credit Stress Test is one of the latest entries on our ongoing list, providing critical intelligence for management, directors and examiners while eliminating weeks of manual work.”

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About ICBA
The Independent Community Bankers of America®, the nation’s voice for more than 6,500 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services.

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