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FDIC Assessment Credits

Years of ICBA advocacy on behalf of community banks have once again paid off! Thanks to the collective efforts of community bankers nationwide, community banks like yours are now due significant FDIC assessment credits. The FDIC has begun distributing roughly $764 million in credits to offset the cost of deposit-insurance assessments for community banks under $10 billion in assets.

These bottom-line savings are a shining example of why we must never stop advocating exclusively for our great industry. In the wake of the Wall Street financial crisis, ICBA, community bankers and affiliated state associations fought hard to ensure community banks like yours wouldn’t be stuck footing the deposit-insurance bill for a crisis you didn’t cause.

News

ICBA Backs Plan for Assessment Credits

Oct 01, 2019
ICBA expressed support for an FDIC proposal to suspend community bank credits to deposit-insurance assessments only if the Deposit Insurance Fund reserve ratio falls below 1.35 percent, rather than 1.38 percent.

In a comment letter, ICBA said it also supports the FDIC’s idea of fully remitting any remaining credits after eight quarterly assessment periods.

The FDIC recently announced that roughly $764 million in assessment credits are headed to community banks with assets under $10 billion. In a recent Main Street Matters post, ICBA's Chris Cole details the long-awaited assessments, which were triggered when the DIF reserve ratio surpassed 1.38 percent.