Memphis, Tenn. (July 1, 2014)—ICBA Securities Corp., the broker/dealer subsidiary of the Independent Community Bankers of America® (ICBA) that provides fixed-income investment services to the nation’s community banks, announced today that it has signed an agreement with its clearing broker Vining Sparks to extend their long and mutually successful relationship.
Jim Reber, president and CEO of ICBA Securities, said that the continuation of this partnership means that community banks can depend on a stable source of fairly-priced, quality, fixed-income investment products for many years to come.
“Thousands of community banks have turned to ICBA Securities to help them manage their investment portfolios over the last 25 years,” said Reber. “We are pleased to continue working with Vining Sparks, a company who shares our single-minded commitment to offering exceptional education, resources and tools that assist community bankers with the investment portfolio decision making process.”
Mark Medford, chairman, CEO and president of Vining Sparks, stated, “One of the major reasons I chose to come to Vining Sparks was the relationship with ICBA. It gives our sales representatives instant credibility with their community bank clients, and differentiates us from other broker/dealers. I am delighted that we are continuing this alliance.”
Wayne Cottle, chairman of Dean Bank in Franklin, Mass. and chairman of ICBA Securities added, “Community banks like mine continue to navigate a challenging regulatory and market environment. Without tools like ICBA Securities’ Performance Profile it would be impossible to estimate market risk or analyze expected cash flow under various interest rate assumptions. I very much value ICBA Securities’ relationship with Vining Sparks and appreciate the innovation and market knowledge they bring to the table.”
Thirty-five state and regional partners across the country endorse ICBA Securities— the only institutional broker in the country that is owned by a trade association.
About ICBA The Independent Community Bankers of America®, the nation’s voice for more than 6,500 community banks of all sizes and charter types, 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.
About ICBA Securities ICBA Securities, a wholly owned subsidiary of ICBA, specializes in providing quality investment products, services and education to community banks to help to create and maintain a high performing investment portfolio. For more information on ICBA Securities, visit www.icbasecurities.com.
About Vining Sparks Vining-Sparks IBG is nationally recognized as a leading broker/dealer in serving the investment needs of institutional investors. Vining Sparks has offices throughout the United States with headquarters in Memphis, Tennessee. The firm has over 300 employees in cities across the United States. It has over 4,400 active customers, which include depository institutions, public entities and money managers. The firm also ranks in the top 20 underwriters of new U.S. Agency debt. Member FINRA/SIPC.