April is Community Banking Month, and the Independent Community Bankers of America (ICBA) and Lincoln Savings Bank are encouraging consumers and small business owners to Go Local by banking locally with a community bank. Because community banks put local deposits back to work in the community, and are financial first responders both in good times and in bad, consumers will be reinvesting in their neighborhood and making it a better place to live and work for generations to come.
States, local governments, and community banks recognize Community Banking Month. Some community banks partner with local charities to host special events, while others promote economic development initiatives. Many community banks traditionally mark the month by highlighting their community service or financial education programs.
"Community banks proudly embody the American spirit of Main Street by lending to local small business owners, helping area families achieve financial stability and enabling their local economy and community to thrive. And this isn't a new phenomenon. Many community banks have been around for over a hundred years, and like mine, many are still family owned and operated," said Jeff Gerhart, ICBA chairman and chairman of Bank of Newman Grove, Neb. "I'm so proud to be a community banker and I'm thrilled to celebrate Community Banking Month by encouraging consumers and small business owners to Go Local so they too can realize the benefits of banking locally, and make a real difference in their community and local economy."
By driving local economies and creating local jobs, community banks-which are small businesses themselves- are an integral part of our nation's financial system. Of the more than 7,000 community banks across the country, nearly 5,000 are ICBA members. Representing more than 24,000 locations nationwide and employing nearly 300,000 Americans, ICBA members hold more than $1 trillion in assets, $1 trillion in deposits, and nearly $750 billion in loans to consumers, small businesses and the agricultural community. Located in small towns, suburbia and big-city neighborhoods, community banks improve the nation's communities by lending to local customers and funding nearly 60 percent of all small businesses under $1 million.
To follow the conversation on Community Banking Month, follow the hashtags #iLuvMyCB, #golocal and #banklocal on Twitter. To learn more about community banks, please click on the following links or visit www.icba.org.
About Lincoln Savings Bank
LSB Financial and Lincoln Savings Bank together comprise a $500,000,000 financial services organization serving customers in Central and Northeast Iowa through a 17-office, 150-employee network. LSB Financial offers coordinated financial solutions including personal and commercial insurance; investment services; trust & estate planning; employee benefit programs; and real estate services. Lincoln Savings Bank provides a wide array of full-service banking solutions and financial planning services, visit www.MyLSB.com
The Independent Community Bankers of America, the nation's voice for community banks, represents nearly 5,000 community banks of all sizes and charter types throughout the United States and is dedicated exclusively to representing the interests of the community banking industry and the communities and customers we serve. For more information, visit www.icba.org