FOR IMMEDIATE RELEASE
ICBA Announces Alliance with Crowe Horwath, 2013 Financial Institution Compensation Survey
Washington, D.C. (October 7, 2013)—The Independent Community Bankers of America® (ICBA) today announced an alliance with Crowe Horwath LLP that allows the association to bring ICBA members results from the 2013 Crowe Horwath Financial Institutions Compensation and Benefits Survey. The findings comprise salary and bonus benchmarks for nearly 230 job positions and include information on benefits and human resource practices. Crowe is one of the largest accounting and consulting firms in the United States.
“The 2013 compensation survey is a great offering that ICBA is making available to its members across the country,” said Bill Loving, ICBA chairman and president and CEO of Pendleton Community Bank, Franklin, W.Va. “ICBA is dedicated to offering community banks the most up-to-date and relevant information that will help them run their businesses effectively and efficiently.”
Among the key findings from the compensation survey:
- Approximately 49 percent of smaller banks expect to maintain staffing levels, compared with 34.6 percent of larger banks.
- “Finding and hiring the right employees” and “retaining and motivating the right employees” have been consistently ranked as the most important human resource concerns.
- Salaries and total compensation for chief credit officers, residential mortgage loan officers and chief human resources officers have had faster growth than most other positions.
“Crowe Horwath’s professionals were able to identify key financial industry trends, including salary increases and comparative analysis, compensation and benefits packages, and cost-cutting strategies,” Loving said. “I think ICBA members will find the full survey beneficial, and I encourage them to find out more.”
A total of 293 financial institutions contributed to the compensation survey. Survey results are broken down by asset size and population of the headquarters city. Institutions with less than $1 billion in assets made up 232 of the 293 companies surveyed.
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.