Washington, D.C. (Dec. 16, 2020) — The Independent Community Bankers of America (ICBA) today announced that a dividend of $4.3 million will be shared by more than 1,200 community banks based on their participation in the 2019 ICBA/Travelers insurance program. This is the 19th consecutive dividend for participating community banks, which demonstrates the effectiveness of community banks in managing their businesses.
“ICBA is pleased to provide this valuable benefit to member community banks during these challenging times, as these funds can be redistributed back into the community to help customers who may have been impacted by COVID-19,” ICBA Senior Executive Vice President of Community Bank Solutions Kevin Tweddle said. “The Travelers group dividend program helps community banks manage their insurance coverage needs, and even provides access to risk management resources and claims management services so that bankers can focus on helping their customers reach their financial goals.”
Travelers helps community banks manage and mitigate risks and exposures through a wide variety of services. Insurance protection from Travelers can address vulnerabilities in areas that include property, general liability, auto, workers’ compensation, crime, cyber risks, fiduciary liability, employment practices liability, bankers’ professional liability, and directors’ and officers’ liability, among others.
“We’ve had a wonderful partnership with ICBA for more than 35 years and are proud of the dividend payouts that have been distributed to participants, which total nearly $70 million since the program started,” said Laura Lundin, vice president of Financial Institutions at Travelers. “Serving our community bank customers with all of the benefits we can offer is what continues to drive us at Travelers.”
For additional information about community banks, visit www.icba.org.
The Independent Community Bankers of America creates and promotes an environment where community banks flourish. ICBA 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.
With nearly 50,000 locations nationwide, community banks constitute 99 percent of all banks, employ more than 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5 trillion in assets, over $4.4 trillion in deposits, and more than $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation, and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.
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