Author: Tim Schneider Date: 06/10/2020

What Makes a Community Bank?

It was back on March 17, 1997, when we opened our doors in Manitowoc, WI. A group of banking entrepreneurs had seen that the business of banking was changing, so we took a chance and started a bank built on the philosophy that people bank with people, not with banks. We understand that taking care of our clients is mission number one, and that was the driving force from the very beginning.

Take a moment to watch our video if you’d like to learn a little more about the ICB story.

We’re often asked why we chose the name Investors Community Bank. A common misconception is that you need to be an investor to bank here. Rather, our name is an homage to those investors who have supported the bank from the beginning – those who took a chance on four entrepreneurs in the bank’s first years, and helped us become who we are today.

We’re a community bank because we support the communities in which we live and work. It's the local communities in each of our markets that are at the heart of what we do. They've put their trust in us, so we're honored to be able to give back to the communities we serve, whether that's by putting the deposits we receive in each market back to work for farms and businesses in those same communities, or by the contributions we provide locally.

So, what makes a community bank?

Community banks are an integral part of “main street.” We reinvest local dollars back into the community and help create local jobs. Our relationship banking philosophy is ingrained in the way we conduct business, one customer at a time. Local reinvestment ensures small businesses grow by helping them finance expansions and major purchases, both of which contribute to financial security.

How do community banks support local economies?

Community banks like ours take local deposits and redeploy them in the form of loans in the communities we serve. A strong community-minded bank is often the lifeblood of economic activity in a community. These loans provide economic activity in the community, whether it be the contractor working on a project funded by the bank, providing employment to the contractor’s employees, buying materials locally to construct a facility, or adding to the tax base with each new facility built with our financing. Community banks create a cycle of economic activity which is felt at a local level, but when you multiply these effects across the thousands of community banks in the United States, you really see how we help make up the broader national economy.

Community banks have a critical role in keeping our local economies vibrant and growing by lending to creditworthy borrowers in our region. We often respond with greater agility to lending requests because of our detailed knowledge of the needs of our customers, and our close ties to the communities they serve. Such lending helps foster the economy by allowing businesses to buy new equipment, add workers or sign contracts for increased trade or services.

In fact, we recently embarked on creating a video series of client testimonials sharing their stories of why Investors Community Bank plays a key role in their success – starting with Harry Sydney of My Brother’s Keeper, Green Bay. View Harry's story below to learn how Investors Community Bank walks in his organization’s shoes.

 


We also support our communities through sponsorships and donations. Over the past three years, Investors Community Bank has provided over $1.1 million in donations and sponsorships to the communities we serve. In addition, our team provides many, many hours of volunteer time in the community supporting Chambers of Commerce, Economic Development and multiple other nonprofits. We support and embrace this activity from our team members, offering each employee four paid hours per year to volunteer with an organization of their choice.

Twenty-three years after opening our doors, we still walk in our customers' shoes each and every day. Because without the success of our customers, WE would not succeed. We take great pride in seeing businesses, farmers and families prosper, knowing the bank played a role in their success. Thank you for making us who we are!

Benefits of Community Business Bank

Topics: Business Growth, General Business, Nonprofit

 

Written by Tim Schneider

Tim is CEO of Investors Community Bank and one of ICB’s four founders. He has more than 25 years of banking experience in agricultural and commercial banking. He volunteers with many business, financial and charitable organizations, including serving as a NEW North Co-Chair, Wisconsin Business Development Corporation board member and is active with the Manitowoc/Two Rivers YMCA.

 

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