ICBA Celebrates Community Banks Powering Local Communities During Community Banking Month in April

Washington, D.C. (April 2, 2024) — In honor of Community Banking Month in April, the Independent Community Bankers of America (ICBA) is highlighting community bank efforts to power local communities and fuel economic prosperity for Americans nationwide.

"As financial stewards and relationship lenders, community banks pride themselves on delivering exceptional service through a wide range of offerings that meet the unique funding needs of consumers, small businesses and farmers," ICBA President and CEO Rebeca Romero Rainey said. "ICBA stands with the nation's community banks, championing their vital role in our financial system and celebrating their unwavering commitment to fostering economic growth and prosperity in our local communities."

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

• Are favored by small businesses, earning a 74% net satisfaction score compared to 53% for large banks, 42% for finance companies and 15% for online lenders.

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

• Offer high-touch, high-tech service. This gives consumers access to modern-day conveniences and technical capabilities in addition to 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.

"Community banks serve a critical role in supporting small businesses and farmers that fuel our economy and nourish our families," ICBA Chairman and President of The Fountain Trust Co. Lucas White said. "As a fourth-generation community banker and fervent advocate for our industry, it's my honor to highlight the remarkable contributions of community banks, particularly during ICBA Community Banking Month."

For more facts about community banks and 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® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.