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Encouraged to
bank locally
PUTNAM — The Independent Community Bankers of America (ICBA) and Putnam Bank are kicking off ICBA Community Banking Month by encouraging small business owners and consumers to bank locally with a community bank. By doing so, customers will make a hometown investment they can be proud of because community banks put local deposits back to work right where it belongs—in the community.
“We at Putnam Bank rely on the cooperative relationship between the bank and our local community, and that is why it is our mission to be a leader among independent, community banks by delivering responsive, professional customer service paired with high-quality, innovative products.” said Thomas Borner, President & CEO of Putnam Bank.
“Community banks help area families achieve financial stability while also driving small business lending in their communities—all of which helps their local economy and community to thrive,” said Bill Loving, ICBA chairman.
He added, “By driving local economies and creating local jobs, community banks are an integral part of our nation’s financial system. With nearly 5,000 members, representing more than 24,000 locations nationwide and employing 300,000 Americans, ICBA members hold $1.3 trillion in assets, $1.1 trillion in deposits, and $800 billion in loans to consumers, small businesses and the agricultural community. There are almost 7,000 community banks, including commercial banks, thrifts, stock and mutual savings institutions, with more than 50,000 locations throughout the United States. Assets may range from less than $10 million to $10 billion or more. Community banks constitute 96.8 percent of all banks.”