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ICBA: Community Banks Key to Strong National Economy

ICBA Community Banking Month Recognized in April

Washington, D.C. (April 6, 2009)—As the Independent Community Bankers of America (ICBA) recognizes April as ICBA Community Banking Month, our nation’s more than 8,000 community banks continue to serve their communities as the engines that drive local economies in cities and towns throughout America.

“Local community bankers understand community needs and continue to provide loans in their communities for housing, small businesses and other local economic needs,” said R. Michael Menzies, ICBA chairman and president and CEO of Easton Bank and Trust Co., Easton, Md. “As locally owned and operated institutions, community banks are integral to their communities and engage in community reinvestment and development on a daily basis—one of our key missions is to ensure our local communities are vibrant and thriving.”

Community banks offer important savings products and services to help their customers fulfill their financial goals. One advantage of saving at a community bank is that because they are local, they want to build lasting relationships with their customers so they work hard to deliver superior customer service. A house down payment, retirement, college, adoption expenses, vacation, emergency funds—to name a few—are all goals families and individuals may have that require savings and are great reasons to start a savings nest egg at a community bank now.

Menzies also called attention to the important relationship between community banks and small businesses. “We understand the needs of small business owners because community banks are also small businesses,” he said. “Community banks are vital to small businesses, providing funding for their expansion and innovation. Small businesses have been and will continue to be critical for new job creation and economic growth in our nation.” Each year, thousands of community banks recognize ICBA Community Banking Month in a variety of ways. Whether they host special events with local charities, promote economic development initiatives or offer programs to boost financial literacy, community banks continue to enrich their communities and lives of the customers they serve.

Read more about ICBA and ICBA’s Community Banking Month at www.icba.org.