Plumas Bank and ICBA Celebrate Community Banking Month
In recognition of Community Banking Month in April, Plumas Bank and the Independent Community Bankers of America (ICBA) are reminding consumers about why banking locally with a community bank matters.
“At Plumas Bank we value the relationships we have with our clients and are always striving to provide the very best banking services and product offerings to meet their financial goals and needs,” said President and Chief Executive Officer Andrew J. Ryback. “We’re proud of the important role we play in the communities we serve. Our close relationships with our clients and communities are the basis of our banking philosophy and a point of distinction that is reflected in everything we do.”
Ryback continued, “Last year many of our clients and community members were devastated by the Dixie Fire. In partnership with the Community Foundation of Northern Nevada, Plumas Bank helped establish the Dixie Fire Fund to provide disaster relief and long-term revitalization for the communities affected by California’s largest wildfire in history. Plumas Bank joined forces with the Federal Home Loan Bank of San Francisco to donate $75,000 toward this fund which to date, has raised over $247,000.”
Community banks take in local deposits and redistribute them back into the community—consistently making more than 60 percent of small-business loans and more than 80 percent of agriculture loans. They also contribute tax dollars that help maintain local municipalities and keep local neighborhoods viable and strong because serving the best interests of their clients is fundamental to their business philosophy. Community banks:
• Are highly favored by small businesses, earning a 74 percent net satisfaction score compared to 60 percent for large banks, 46 percent for finance companies and just 25 percent for online lenders, according to a Federal Reserve study.
• Are committed lenders with loan growth that has outpaced noncommunity banks for eight years.
• Demonstrate safety and soundness with higher capital ratios and better loan quality than the largest institutions.
• Offer high-tech, high-touch service, giving consumers access to modern-day conveniences while maintaining the superior customer service for which community banks are known.
• Have a strong track record in helping underserved Americans by focusing a relatively large share of their resources in low- and moderate-income tracts.
“During ICBA Community Banking Month we are proud to recognize community banks as financial first responders who continue to demonstrate their flexibility to address unique financial needs while performing acts of community service that create healthy, resilient and vibrant communities, which benefit Americans nationwide," ICBA President and CEO Rebeca Romero Rainey said.