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ICBA Reinsurance Appoints New Officers and At-Large Directors to Board of Directors

Washington, D.C. (Sept. 6, 2012)—ICBA Reinsurance, the captive reinsurance company of the Independent Community Bankers of America (ICBA), announced today the election of two officers and two at-large directors for its 2012-13 board of directors. William E. Wood, chairman, president and CEO of CBT Financial Corp. and Clearfield Bank and Trust in Clearfield, Pa., was elected ICBA Reinsurance chairman; Glen Thurman, chairman, president and CEO of First National Bank of Moody in Moody, Texas, was elected treasurer; Michael R. Martin, president and CEO of Western Bank in Lordsburg, N.M., was elected at-large director; and Nick DiFrancesco, president and CEO of the Pennsylvania Association of Community Bankers (PACB) in Harrisburg, Pa., was elected at-large director.

“We are pleased to announce the election of William Wood as chairman, Glen Thurman as treasurer and Michael Martin and Nick DiFrancesco as at-large directors for ICBA Reinsurance,” said Steve Ello, president and CEO of ICBA Reinsurance. “These new officers bring a vast array of experience and knowledge about the importance of reinsurance and what it means to our member banks. They have worked hard over the years to ensure that ICBA Reinsurance is an asset for community banks by offering their continuous support and expertise. We look forward to working with them closely so we can continue to enhance the value of ICBA Reinsurance for our members.”

ICBA Reinsurance Chairman William Wood is also the president and CEO of Diamond Financial, an investment subsidiary of Clearfield Bank and Trust. He is a former director of the Pennsylvania Bankers Association, where he held multiple leadership roles.

Glen Thurman, treasurer for ICBA Reinsurance, served as a director of the Independent Bankers Association of Texas from 2001 through 2008 and has served on ICBA’s Lending Committee since 2009.

Michael Martin served on the board of the Independent Bankers of New Mexico from 2006 to 2011 and as the group’s chairman from 2009 to 2010. Martin is a director of the New Mexico State Investment Council and serves as the chairman of its Private Equity Investment Advisory Committee.

Nick DiFrancesco, president and CEO of PACB, serves on the board of directors for the Capital Regional Economic Development Corporation (CREDC) in Harrisburg, Pa. He is a former county commissioner for Dauphin County, Pa.

Steve Ello also serves on the board with Wood, Thurman, Martin and DiFrancesco.

About ICBA Reinsurance
ICBA Reinsurance is a credit insurance program you can trust with a proven record of success and profitability. A wholly-owned subsidiary of Independent Community Bankers of America (ICBA), the nation's voice for community banks, ICBA Reinsurance is run by community bankers for the benefit of community bankers. ICBA Reinsurance wrote its first piece of business in 1999, has paid eight consecutive dividends to participating banks and is backed by the strength of ICBA's more than 75 years of providing community bankers with quality products and services. For more information, visit www.icba.org/reinsurance/index.cfm.