ICBA News Release
FOR IMMEDIATE RELEASE
ICBA Securities Capital Markets Announces Its First Community Bank Unit Investment Trust
Washington, D.C. (Nov. 13, 2007)—The Independent Community Bankers of America (ICBA) announced that Howe Barnes Hoefer & Arnett, ICBA Securities Corp.'s Capital Markets provider has closed the ICBA Capital Markets Trust, Series 1, a unit investment trust (UIT) that invests in publicly traded ICBA member banks. The ICBA Capital Markets UIT is the first UIT invested solely in ICBA member bank holding company stocks.
"ICBA Capital Markets is very pleased to have offered this innovative unit investment trust," said Jim Reber, ICBA Securities Corp. president and CEO. "In essence, by investing in community banks through the ICBA Capital Markets Trust, you are investing not only in your own future but also investing in America's communities."
The trust invests solely in common stocks of bank holding companies whose subsidiaries are ICBA member-banks. The trust's objective is to provide capital appreciation. ICBA has about 600 publicly traded member-banks. Eligible investors include individuals and other bank holding companies. Howe Barnes Hoefer & Arnett, Chicago, Illinois selected the stocks for the portfolio.
"This is a milestone for ICBA Securities and the ICBA membership," said Marti Rodamaker, ICBA Securities chairman and president of First Citizens National Bank of Mason City, Iowa. "For the first time, people associated with the ICBA and bank holding companies can share in the growth of our industry in general, and in a number of our publicly traded members in particular."
ICBA Securities is a service of the ICBA Services Network®, a wholly owned subsidiary of ICBA. ICBA Securities was licensed in 1989 following two years of intensive research by ICBA's Bank Services Committee. ICBA Securities was founded by ICBA to provide community bankers with quality investment products, services and education at competitive prices.
This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.