ICBA News Release
FOR IMMEDIATE RELEASE
Ten Community Banks Join ICBA Bancard Total Card ManagementTM Agent Programs
May 21, 2004
ARLINGTON, VA. - Ten more banks have joined ICBA Bancard's Total Card Management program to offer customers an array of credit card products and reward features under their own brand. ICBA Bancard and TCM Bank, N.A. are pleased to announce that the following banks have recently become participants of one of Total Card Management's agent bank programs: Cygnet Private Bank of Ponte Verda Beach, Fla.; South Ottumwa Savings Bank of Ottumwa, Iowa; American Gateway Bank of Port Allen, La.; First State Bank of Saginaw, Mich.; Community Bank of Shell Knob of Shell Knob, Mo.; Kennett National Bank of Kennett, Mo.; The Guide Rock State Bank of Guide Rock, Neb.; Clover Community Bank of Clover, S.C.; River City Bank of Mechanisville, Va.; and Eagle Valley Bank of St. Croix Falls, Wis.
Total Card Management's programs are delivered through ICBA Bancard's wholly owned subsidiary, TCM Bank, N.A., which is headquartered in Tampa, Fla. ICBA Bancard is the payment services corporation of the Independent Community Bankers of America (ICBA), the only national banking trade association that exclusively serves community banks.
Total Card Management's programs include the 20/20 and Participation Plus Plan. 20/20 is designed for community banks that want to offer a credit card plan to further develop their customer relationships, without the staff expense and risk management associated with traditional credit card programs. With 20/20, Total Card Management assumes all credit risk and fraud losses. The program also has a competitive revenue structure that equals or exceeds the best payouts in the industry. Participation Plus, similarly helps community banks increase and protect their customer bases, by allowing banks to share in a portion of their card program's liability in exchange for increased earnings. ICBA Bancard and TCM Bank N.A. also purchase credit card portfolios from issuers that have decided to exit the credit card business. In these instances, the original issuer's name remains prominently on their customers' cards.
South Ottumwa Savings Bank has joined the Total Card Management 20/20 Plan. Bank president and CEO, Thomas M. Awtry, says that his bank has been serving its community since 1903 by offering customers quality service and competitive products. "Decisions are made here, funds are reinvested here, and the service that is provided here is just what you'd expect from a home town bank. Of the agent bank options our board considered, the consensus was that ICBA Bancard and TCM Bank's Total Card Management 20/20 program best fit with our 101 year tradition of offering our customers convenience, service, and benefits."
Total Card Management's newest participants have joined over 350 community banks that participate in one of ICBA Bancard and TCM Bank N.A.'s Agent programs, representing over 1150 banking offices nationwide.
About ICBA Bancard & TCM Bank, N.A.TM
ICBA Bancard is a wholly owned subsidiary of the Independent Community Bankers of America, "The Nation's Leading Voice for Community Banks." Since 1985, ICBA Bancard has provided more than 2,000 community banks with equitable access to payment system products and services. In addition to ATM, credit and debit cards, banks have access to merchant services, ATM driving, risk management services, Internet banking and marketing services.
In 1998, ICBA Bancard founded TCM Bank, N.A. The bank exists to meet the needs of community banks that wish to participate in the credit card market and to help them protect their customer relationships by offering a competitive, professionally managed agent bank card program, Total Card Management. For issuers wishing to exit the credit card business, TCM Bank purchases portfolios, but keeps each bank's identity before its customers through the agent program.