Community Bank Month Highlights Benefits and Differentiators at Important Time

Washington, D.C. (April 5, 2023) — In recognition of Community Banking Month in April, the Independent Community Bankers of America (ICBA) and the nation’s community banks are reminding consumers of the benefits of banking locally with a community bank. Community Banking Month comes on the heels of last week’s launch of ICBA’s National Campaign, which delivers a powerful and timely message to consumers: Where you choose to bank matters, and community banks are best positioned to serve your financial needs.

“Community banks embrace their role as trusted, local financial advocates who help their customers throughout their financial journeys and who take great pride in building stronger and more vibrant communities through local lending to consumers, small businesses and farmers,” ICBA President and CEO Rebeca Romero Rainey said. “Community banks are unique in their approach to lending and customer service, and the unrivaled access they provide in answering their customers’ needs and questions, along with their strong ties to the community, mean that they are on your corner and in your corner for the long haul.”

Collectively, community banks make more than 60% of small-business loans, more than 80% of agriculture loans, and contribute tax dollars that help maintain local municipalities. Additionally, community banks:

• Are favored by small businesses, earning an 81% satisfaction score compared to 68% for large banks, 62% for finance companies, and 48% for online lenders.

• Are committed lenders with loan growth that has outpaced noncommunity banks for a decade.

• Demonstrate safety and soundness with higher capital ratios and better loan quality than the largest institutions.

• Offer high-touch, high-tech service. This gives consumers access to modern-day conveniences and technical capabilities while maintaining the personal service for which community banks are known.

• Have a track record in helping underserved Americans by providing greater flexibility to low-income and minority borrowers. Community banks serve 93% of majority-minority communities and 96% of low-income designated counties.

• Give back to their communities. Civic service is a way of life for community bankers as reflected in ICBA’s National Community Bank Service Awards.

“The facts speak for themselves when it comes to why community banks are so integral to our nation’s financial system and the customers and communities they serve,” ICBA Chairman and President and CEO of Century Bank & Trust in Milledgeville, Ga., Derek Williams said. “As a community banker for more than 35 years, I can tell you without a doubt that community banks will always stand shoulder to shoulder with customers to stimulate the economy and support local communities with compassion, courage, and commitment. I’m so honored to represent and celebrate the actions of this incredible industry during ICBA Community Banking Month.”

For more facts about community banks, click here. To find a community bank near you, visit banklocally.org. Follow the ICBA Community Banking Month conversation on social media with the #BankLocally and #CommunityBankingMonth hashtags.

About ICBA

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 employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding $5.8 trillion in assets, $4.8 trillion in deposits, and $3.8 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.

###