Banking Groups Announce Merger Plans

ABA Chairman Earl McVicker noted that both associations have long and proud histories, with ABA having been formed in 1875 and ACB celebrating its 115th anniversary this year. He said that the merger would combine the best attributes of both organizations.

“The new ABA will be a unified association that will achieve a broad consensus on industry issues and serve as the advocate for the banking industry.” McVicker, who is also chairman, president and CEO of Central Bank and Trust Company in Hutchinson, Kan., added that, “We will be politically stronger with broader grassroots representing a strong majority of all size banks and the vast majority of the industry -- commercial banks, thrifts and mutual savings institutions. Our depth of staff after the merger will expand our expertise and our ability to address the significant challenges that come with being a banker today. Together, we will be able to provide enhanced tangible benefits and services for our combined membership.”

ACB Chairman Mark E. Macomber noted that this was a banker-driven decision. “As I have traveled the country the past few years, it has become clear from the bankers I’ve talked with that they were ready for a combined organization.” Macomber, who is also president and CEO of Litchfield Bancorp, Litchfield, Conn., added, “As the ACB and ABA have become philosophically aligned on many issues, and with the successful mergers of a number of state organizations, it simply makes sense for two great organizations with extensive histories, engaged members and experienced staff to become one great organization -- the unquestioned premier banking association in our great industry.”

Yingling stated that the two organizations have agreed to principles that will guide the process during the coming months. Yingling emphasized that, “This merger is all about benefiting the members, present and future. No bank will pay more in dues tomorrow than it is paying today, and we would expect that banks will generally pay less in dues under the new structure being developed.”

Casey-Landry noted that the time was right for the two organizations to get together. “Both of us are very proud of our record of service to our members, and when you combine our strengths, this new organization will be the clear industry leader that is dedicated to preserving charter choice, including the thrift charter.” Casey-Landry added that, “We are also pleased that ACB’s name will live on through the America’s Community Bankers NASDAQ Index and the newly named America’s Community Bankers Council. This merger makes good business sense and good banking sense for all of our members,” she declared.

McVicker emphasized that by using the “best of both” philosophy, “The combined organization will shape the future of the entire banking industry with strength, service and leadership for all of its members.” He added, “The new ABA will be a formidable advocate for all banks, and will become, in name and action, America’s Banking Advocate.”