FOR IMMEDIATE RELEASE
ICBA Thanks Senate for Passing a New Farm Bill
Washington, D.C. (June 10, 2013)—Bill Loving, chairman of the Independent Community Bankers of America® (ICBA) and president and CEO of Pendleton Community Bank in Franklin, W.Va., released this statement today following Senate passage of a new farm bill, the Agriculture Reform, Food and Jobs Act of 2013 (S. 954).
“ICBA thanks the Senate for passing a new farm bill—a new five-year farm policy that will go a long way toward helping community banks and their farm customers remain viable in both good times and bad. This legislation is vitally important to community bankers and their farm customers because it provides a level of certainty for making farm loans and business-planning decisions, while authorizing important USDA guaranteed loan programs. ICBA also appreciates the bill’s strong focus on crop and revenue insurance programs and the fact that it removes term limits on guaranteed farm operating loans.
“Additionally, the bill reduces the deficit by cutting spending by $23 billion over the next 10 years. Farmers and ranchers need a new multi-year farm bill in place to operate their businesses and repay their loans, and the community banking industry remains steadfastly committed to passing a farm bill this year.”
For more information, visit www.icba.org.
The Independent Community Bankers of America®, the nation’s voice for nearly 7,000 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. For more information, visit www.icba.org.