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.