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ICBA Selects WebEquity® ALLL as Preferred Solution for Community Banks

Washington, D.C. (Nov. 29, 2011)—The Independent Community Bankers of America (ICBA) today announced that it has selected WebEquity® ALLL as a Preferred Service Provider (PSP) solution. This new relationship provides nearly 5,000 ICBA-member community banks with discounted pricing for WebEquity ALLL, a new solution that helps banks systematically and accurately calculate an allowance for loan and lease losses (ALLL).

“ICBA’s Preferred Service Provider program offers valuable products and services to meet the unique needs of community bankers,” said Dan Clancy, ICBA executive vice president of services. “Our member community banks are under increasing regulatory pressures to establish clearly defined processes for calculating an appropriate allowance for loan and lease losses. WebEquity ALLL will help our members address this critical credit risk management issue by automating and streamlining the collection of loan data and providing comprehensive documentation to meet regulatory and executive management reporting needs.”

Today, most banks still rely on Excel and manual processes for determining their loan loss reserves, increasing the risk of calculation errors, poor documentation and inconsistencies. WebEquity’s cloud-computing-based software solution provides banks with a clear audit trail to support accurate ALLL reserve decision-making with regulators, auditors and bank boards of directors.

“A board must ensure that the bank has a program for developing, maintaining and documenting a comprehensive, consistently applied process for determining the amounts of the ALLL,” said William McDaniel, chairman of the Community Bank of Raymore, Mo., and chairman of the ICBA Bank Services Committee. “The WebEquity ALLL system will help fulfill this responsibility by ensuring proper controls are in place to determine the ALLL in accordance with generally accepted accounting principles, the bank’s stated policies and procedures, management’s best judgment and relevant supervisory guidance.”

“We are pleased to receive ICBA’s stamp of approval for WebEquity ALLL,” said Doug McGregor, CEO of WebEquity. “We listen closely to the needs of community banks, and as a result of the recent credit crisis, determining an appropriate loan loss reserve has become critical for banks of any size. Our solution provides an efficient way to establish a consistent, well-defined ALLL process and to determine an accurate, defendable reserve amount.”

About WebEquity Solutions
WebEquity® is the proven leader in on-demand lending software. More than 700 financial institutions and 20,000 lending professionals use WebEquity to automate and streamline their lending process and reduce operational costs, while making more uniform and profitable credit decisions. The company offers financial institutions a distinct advantage with a single solution that works for all loan types, an on-demand model that provides centralized, anywhere access, and the flexibility to configure the system so it fits their lending practices. WebEquity serves institutions in the U.S., Canada and Australia. WebEquity is a Preferred Service Provider of the Independent Community Bankers of America for commercial lending software. For more information call 800.264.0787 or visit www.webequitysolutions.com.