Putnam Bank and ICBA

IMG_2187 (2) (2)Community Banks Support Small Business

Washington, D.C. – During ICBA Community Banking Month, the Independent Community Bankers of America (ICBA) celebrates Putnam Bank and the nation’s more than 6,000 community banks, which build stronger communities by lending to local small businesses and helping local entrepreneurs get their start or continue in their career as small business owners.

“Community banks make over half of all small business loans in this country, serving a vital role in maintaining the flow of credit to small businesses in their neighborhoods, which in turn creates local jobs and local economic stability,” said Thomas A. Borner, President & CEO of Putnam Bank, “Often when other banks won’t lend, it is the local community bank that steps up and helps Main Street succeed. And since community banks are small business themselves, we are able to provide our small business customers with localized business perspective and advice.”

“By driving our local economy and creating local jobs through lending to small businesses and entrepreneurs, Putnam Bank helps keep Eastern Connecticut thriving. Locally based banks like Putnam Bank, are an integral part of our country’s financial system, and we will continue to serve our communities well into the future—making Main Street a better place for all residents as we have demonstrated over and over, since our founding more than 150 years ago.” stated Borner.

Mr. Borner was in Washington for the Independent Community Bankers of America (ICBA) Washington Policy Summit, which occurs annually, and where bankers meet with regulators and their members of Congress to discuss issues that impact community banks, local economies and the customers they serve on Main Street USA. Key issues include regulatory relief for community banks, data and cyber security, and repealing taxpayer-funded subsidies for credit unions and Farm Credit System lenders.

“Community banks nationwide are the bright spot in this country’s economic system as they create local jobs, fuel local economies and help entrepreneurs and small business thrive,” said ICBA Chairman Jack Hartings, President & CEO of The Peoples Bank Co., Coldwater, Ohio. “We look forward to meeting with our members of Congress and regulators to move the ball forward on issues that are vital to our communities’ well-being.” stated Hartings.

“ICBA’s Washington Policy Summit is an event we are proud to be part of. It was helpful to meet with Senator Blumenthal, Senator Murphy, Representative Joseph Courtney, other federal regulators and members of Congress and fellow community bankers from across the nation to discuss ways in which we can continue to best serve our customers and communities,” said Borner “I was pleased to be in Washington to provide a much-needed voice for the community banking industry and for our customers.”

Putnam Bank, in existence for over 150 years, is a $481 million state chartered and insured stock bank. Putnam Bank has branch offices in Putnam, Pomfret Center, Danielson, Plainfield, Griswold, Gales Ferry, and Norwich. It also operates a full-service loan center in Putnam. For more information call (800) 377-4424 or visit our website at putnambank.com.