Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement following the latest acquisition of a tax-paying bank by a tax-exempt credit union.

At the 2024 ICBA Capital Summit, Rep. French Hill (R-Ark.) commended community bankers for their efforts to challenge misguided regulatory initiatives in support of local communities.

Tennessee Governor Bill Lee recently signed state legislation clarifying that the state’s banks may only be acquired by FDIC-insured institutions.