At Independent Community Bankers’ Bank, our longstanding relationships with community bank customers across the region are some of our greatest assets. To us, these relationships are more than a transaction, but a mutually beneficial opportunity for growth. That’s why many of our customers stay with us for decades. This year, Auburn Banking Company, located in Auburn, Kentucky, celebrates 32 fruitful years with ICBB as their correspondent banking partner.
Auburn Banking Company wasformed in 1929, with the merger of G.W. Davidson & Co. Bank and the Bank of Auburn. More than 60 years later, in April 1990, ABC entered a correspondent relationship with Independent Community Bankers’ Bank (then Bankers’ Bank of Kentucky). That partnership, according to president and CEO Brian White and chief financial officer Tammy Collins, has led to significant growth.As evidence of this growth, the bank added a second branch in Russellville, Kentucky in 1998.
“We would absolutely recommend (partnering with) ICBB to other community banks,” said Collins. “The partnership allows us to provide a number of financial services to our customers while streamlining our operations and enhancing our operational efficiency.”
Throughout its 32-year correspondent relationship, ICBB has served as Auburn Banking Company’s primary Correspondent by processing ACH transactions, check adjustments/returns, wire transfers, foreign item collections, currency order processing, investment of excess funds, and access to a line of credit. According to White, these services provide the bank leadership and staff to focus on what matters most. “We’re not spending time in these areas, so we can spend it on our customers.”
It’s no secret that rapid changes in consumer needs and financial technologyhave pressuredfinancial institutions to adapt.With limited resources and small markets, community banks often feel that pressure most keenly. For Auburn Banking Company, a correspondent partnership with ICBB is a large part of the solution.
“Over the years we have seen continual enhancements in the areas of ACH processing, including ACH origination and same day origination, allowing ABC to adapt to the ever-changing needs of our customers. We have also seen several security enhancements in ICBB systems to ensure that our customers information remains secure in times of heightened security concerns,” Collins shared.
ABC expanded their partnership with ICBB with the addition of participation loans. “Acting as a participating bank in times of excess liquidity has allowed us to maximize the returns on our excess funds,” said Collins.
A key ingredient to the success of ABC and ICBB’s relationship, according to White, has been ICBB’s friendly and personalized approach to customer service.
“I have rarely tried to make a phone call in which someone didn’t pick up and give me the answer I was looking for,” said White. “You need answers and results quickly, and we’ve always gotten that. To me, that’s important.”
Getting the right support from a correspondent banker can help your community bank thrive, too. Independent Community Banker’s Bank serves clients throughout Illinois, Indiana, Ohio, Kentucky, West Virginia, and Tennessee with a variety of services, including credit card solutions and help with loans. Visit ICBB online to learn more about their services or email solutions@icbb.bank.