Heritage Bank of St. Tammany and ICBA Celebrate Community Banking Contributions That Help Local Communities Thrive
In recognition of Community Banking Month in April, Heritage Bank and the Independent Community Bankers of America (ICBA) are reminding consumers about why banking locally with a community bank matters.
COVINGTON, La., April 12, 2022 (Newswire.com) - "At Heritage 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 David Crumhorn, President and CEO at Heritage Bank in Covington, LA. "We're proud to be a member of this community because we, along with our customers, call it home. It's the basis of our banking philosophy and a point of distinction that is reflected in everything we do."
Heritage Bank is proud to support its local community, and has partnered with the following organizations and sponsored the following events in recent years:
- Sunset at the Landing Concert Series
- First Responders Luncheon
- Shred Days
- Pumpkin Patch
- Santa at the Bank
- Habitat for Humanity, St. Tammany West
- East St. Tammany Habitat for Humanity
- Hospice House
- Miracle League Northshore
- Boy Scouts of America
- Northshore Food Bank
- Children's Advocacy Center - Hope House
- St. Tammany Chamber of Commerce
- East St. Tammany Business Alliance
- Local Private and Public High Schools
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 customers is fundamental to their business philosophy.
Additionally, 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.
ICBA pays tribute to community banks for their ongoing contributions to their communities with ICBA's annual National Community Bank Service Awards, which showcase the invaluable role that community banks serve by reinvesting their customers' hard-earned dollars to support urban, suburban and rural communities throughout America.
Source: Heritage Bank of St. Tammany