FOR IMMEDIATE RELEASE
Community Banks Serve Essential Role in Supporting Small Businesses and Jobs
April Is Community Banking Month
Washington, D.C. (April 8, 2013)— The Independent Community Bankers of America ® (ICBA) and community banks nationwide continue to recognize April as ICBA Community Banking Month. The association and its nearly 5,000 community bank members are reminding everyone of the vital role community banks serve in supporting local small businesses. Community banks are crucial in helping local economies thrive because they operate locally and put local deposits back to work in the community through loans to local residents and small businesses.
“Community banks are small businesses too, which puts them at a huge advantage because they can relate with the challenges and needs small businesses face better than anyone else in the marketplace,” said Bill Loving, ICBA chairman and president and CEO of Pendleton Community Bank in Franklin, W.Va. “Small business lending has always been the bread and butter of community banking. Community banks serve a vital role in lending to fellow small businesses, in good times and in bad, to keep local economies thriving.”
By driving local economies and creating local jobs, community banks are an essential part of our nation’s financial system. Community banks are the primary source of lending for small businesses and farms. For their size, community banks are prolific small business lenders—providing a substantial number of small business loans across the country, including Small Business Administration loans. In fact, even though they comprise just 10 percent of the banking industry by assets, community banks provide nearly 60 percent of loans to small businesses.
To find your community bank, visit ICBA’s Community Bank Locator at www.banklocally.org. Simply type in your ZIP code and you will see community banks in your area. Customers can also download the free ICBA bank locator apps on their iPhone, Android or BlackBerry devices.
To follow the conversation on Community Banking Month, follow the hashtag #golocal on Twitter. To learn more about community banks, 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.