April 1, 2022 – In recognition of Community Banking Month in April, Community First Bank of Indiana (CFB) and the Independent Community Bankers of America (ICBA) are reminding consumers about why banking locally with a community bank matters.
“At Community First Bank we value the relationships we have with our customers and are always striving to provide the very best customer service and product offerings to meet their financial goals and needs,” said Robb Blume, President and CEO at Community First Bank. “The communities we serve are home to us. This is the basis of our banking philosophy and a point of distinction that is reflected in everything we do.”
CFB has been named the ‘Best Bank in Kokomo’ for 15 consecutive years by local residents, named a ‘Best Places to Work in Indiana’ company for 8 consecutive years by the Indiana Chamber of Commerce, and received the 2020 ‘Commitment to Community’ Award by the Indiana Bankers Association. These recognitions are a result of the way that the bank’s employees give of their time, talents, and treasures to serve their customers and local nonprofits, creating a culture that employees are excited to be a part of. In 2021 alone, CFB donated over $85,000 in bank contributions, gave almost $12,000 in employee contributions, served over 300 veterans, and served many additional nonprofit organizations with direct service.
Community banks also take in local deposits and redistribute them back into the community—consistently making more than 60 percent of small-business 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 customers 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.
About Community First Bank of Indiana Community First Bank was chartered in 2003 in Kokomo, Indiana where it currently has banking centers in Indianapolis, Kokomo, Noblesville, and Westfield. Additional information can be found at www.CFBIndiana.com. MEMBER FDIC, Equal Housing Lender. NMLS #614034.
About ICBA The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.
With nearly 50,000 locations nationwide, community banks constitute roughly 99 percent of all banks, employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding nearly $5.9 trillion in assets, over $4.9 trillion in deposits, and more than $3.5 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.
