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ICBA Reinsurance Elects New Officers

Washington, D.C. (Aug. 6, 2008)—ICBA Reinsurance, the captive credit life insurance company of the Independent Community Bankers of America (ICBA), announced the election of two officers and two at-large directors to its 2008-2009 board of directors at its annual meeting.

Steve Stenehjem, chairman, president and CEO of First International Bank & Trust in Watford City, ND, was elected ICBA Reinsurance chairman. Stenehjem is also a director on the ICBA Services Network board of directors. Prior to joining First International Bank & Trust, Stenehjem worked as a commercial loan officer at Dakota Northwestern Bank. He is the vice chairman and Compensation Committee chairman of Investors Real Estate and Trust, the secretary and treasurer of the Watford City Community Benefit Association, the Watford City Rotary Club, and past master of the Fort Union Masons Lodge.

Kent Carruthers, CEO and president, The Citizens Bank of Clovis, Clovis, N.M., was elected treasurer. President of The Citizens Bank of Clovis, NM, since 1985, Carruthers’ leadership roles with ICBA include tenure on the ICBA Board of Directors as the N.M. representative, the Policy Development Committee and the Regulation Review Committee. He is a past president and current director of the Independent Community Bankers Association of New Mexico (ICBANM). Carruthers was instrumental in the reorganization of economic development for Clovis/Curry County as president of the Clovis Industrial Development Corp, and was recognized for his efforts in 2000 when he received the Award for Outstanding Economic Development. In 2003, he was named Citizen of the Year of Clovis/Curry County.

William E. Wood, chairman, president and CEO of CBT Financial Corp. and Clearfield Bank and Trust Company, Clearfield, Pa., was elected at-large director. Wood is also president and CEO of Diamond Financial, an investment subsidiary of Clearfield Bank and Trust. Wood is a former director of the Pennsylvania Bankers Association where he held multiple leadership roles. Currently chairman of Clearfield Hospital’s Board of Directors, Wood has served as a director for Goodwill Industries of North Central Pennsylvania, Major Gifts Campaign Chair for Clearfield United Way and director and vice chairman of the Clearfield County Economic Development Corporation.

Jerry Walker, executive director, Independent Community Bankers Association of New Mexico (ICBANM), was also elected at-large director. Walker has held his position with ICBANM since 1996. He over sees the political, educational and administrative function provided by the association to its members. Walker was also president and CEO of the Association of Commerce and Industry of New Mexico. Prior to ICBANM, Walker served two terms in the New Mexico House of Representatives. He served as a contract lobbyist for a host of business and government organizations including the New Mexico Financial Services Association, the Manufactured Housing Association of New Mexico, and San Juan County. Walker remains active in state politics.

About ICBA Reinsurance
A wholly owned subsidiary of the Independent Community Bankers of America, ICBA Reinsurance is directed by a board of community bankers and provides access to new profit opportunities through credit life and disability insurance offerings that allow community banks to meet virtually any borrowing need.