Washington, D.C. (Sept. 29, 2021) — ICBA Securities® Inc., the broker-dealer subsidiary of the Independent Community Bankers of America (ICBA), released the following statement in response to the announcement that its exclusive broker Vining Sparks has been acquired by Stifel Financial, Inc.
“We have appreciated the decades-long relationship with Vining Sparks as ICBA and its members have benefitted from the products, services and education that Vining Sparks and ICBA Securities have provided,” said ICBA Securities Chairman Derek Williams, who also serves as president and CEO of Century Bank & Trust in Milledgeville, Ga. “We look forward to working with Vining Sparks and Stifel as we enter a new phase for our wholly-owned broker-dealer.”
Since 1989, ICBA Securities, a wholly owned subsidiary of ICBA, has offered broker-dealer services with an inventory of portfolio investment products to community banks through its exclusively endorsed broker Vining Sparks, one of the nation’s top 20 underwriters of agency securities.
“ICBA members will see no change to their day-to-day dialogue with Vining Sparks,” said Jim Reber, ICBA Securities President/CEO. “Expect Vining to continue to deliver its full-service platforms of analytics, products, and services to our nation’s community banks. ICBA Securities will also remain a ready source of support, financially and educationally, to its 34 endorsing state association affiliates.”
For more information, visit www.icbasecurities.com
About ICBA Securities
ICBA Securities provides a full suite of investment products and services for community banks through its exclusively endorsed broker, Vining Sparks. Included are traditional debt securities, interest rate products, whole loans, and M&A and bank valuation services. Vining Sparks also has state-of-the-art asset/liability and bond accounting products. ICBA Securities, a wholly owned subsidiary of ICBA, provides a full calendar of educational events for community bankers and investment professionals. ICBA Securities is the only broker/dealer owned by the community banking industry.
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 $5.8 trillion in assets, over $4.8 trillion in deposits, and more than $3.5 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.