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ICBA: Community Bankers Congratulate Treasury Secretary Timothy Geithner

Washington, D.C. (January 27, 2009)—Cynthia L. Blankenship, chairman of the Independent Community Bankers of America (ICBA) and vice chairman and chief operating officer of Bank of the West in Grapevine, Texas, and Camden R. Fine, president and CEO of ICBA, today issued the following statement.

“ICBA and our nation’s more than 8,000 community banks congratulate Treasury Secretary Timothy Geithner on his confirmation. As our country continues to weather economic hardship, we look forward to working collaboratively with Secretary Geithner and his team to find solutions that will return economic prosperity to cities and towns throughout America.

“The continued vitality and strength of our country’s community banks in the midst of this crisis proves that community banks are the part of our financial fabric that still works. As Treasury works to help our economy recover, we urge that any new solutions put in place do not penalize community banks for problems they did not create and activities they did not participate in. To act quickly and efficiently, all community banks, including mutual institutions, need to be considered and have access to programs that will help them better serve their customers. We also urge Treasury to find solutions that prepare us for a better future. Our current crisis clearly shows that no financial institution should be so large that it can cause the collapse of our entire financial and economic system.

“ICBA and our nation’s community banks are eager to help our nation recover, and we look forward to working with Secretary Geithner and the entire Treasury team as they navigate our country through these uncharted waters.”