Washington, D.C. (Aug. 20, 2019)—The Independent Community Bankers of America® (ICBA) today announced it has extended its ICBA Preferred Service Provider agreement with PMA Funding (PMA), continuing a long relationship that provides community banks with a valuable service to manage their liquidity needs through stable, flexible funding alternatives.
“The liquidity and funding management program by PMA offers community banks the flexibility they need to maximize fundamental services such as taking deposits and lending,” ICBA Services Network Chief Operating Officer Kevin Tweddle said. “ICBA is pleased to continue this relationship, which gives our member banks access to PMA’s specially designed, cost-effective funding alternatives, minimizing their risk exposure and putting them in a stronger position to serve their customers.”
As a Preferred Service Provider since 2009, PMA Funding draws upon individual public fund depositors and local government investment pools to create a balanced portfolio, enabling financial institutions to diversify their funding option needs. This allows community banks to efficiently and proactively manage funding costs by accessing consistent deposits using proprietary analysis, regardless of size.
“PMA Funding works with community banks to identify their current funding needs and develop a complementary funding strategy in line with their strategic business objectives,” said Jim Lutter, senior vice president of Trading and Operations at PMA Funding. “We are proud of our ongoing relationship with ICBA and proud to provide our services to the nation’s community banks.”