Building Dreams into Reality cont.

Read more in the Evansville Courier & Press about how Independence Bank and other community leaders turn one family’s dream about owning their own home into a reality…

The 41-year-old husband and father of three not only has the abiding love of his family, but also is celebrating the fact that in a few days they can start moving into the first home they’ve ever owned.

That’s a huge event in their lives.

As Joe said last Wednesday while he and Carol and their kids walked from room to room in their spanking new Habitat house, “It’s so great to know that my family will have a place to call our own. It’s gonna’ be ours!”

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Post by Chris Reid at July 7th, 2010

Building Dreams Into Reality

“The highest reward for a person’s work is not what they get for it,
but what they become because of it.” – John Ruskin

Last week while working with the Martinez family on their home, the father Joe asked me, “Why does Independence Bank participate in Habitat Homes?” I answered without hesitation, “Habitat helps dreams come true – together we build homes – not houses. You and your family helped on previous Habitat homes, you have all worked very hard on your home and you will help out the next family and perhaps others on down the line. This is an incredible chain reaction that really builds the community.”

As I stood there last night at the dedication ceremony of Independence Bank’s second Habitat for Humanity home, I couldn’t think of a better way to express the reward that I felt when the family was handed the keys to their new home. All of the hard work, employee and volunteer hours came down to that very moment when one local Henderson family opened the doors to their very first home.

As we went inside to inspect our work the oldest son was standing in the second bedroom announcing, “This is my room – this is MY HOUSE!” He was already visualizing where he was going to put things as he mentioned, “All of my stuff probably won’t fit.” Seeing the excitement on that young man’s face was my reward. For those of you that don’t know Joey, he was one of the hardest working teenagers I know. After school, Joey would be right alongside of you making sure you could keep up. If you ask him, HE built that house.

That is reason why Independence Bank has committed to build seven Habitat for Humanity homes in our seven county area over a seven year period. It’s not for the recognition, or the plaque to hang on our wall. It’s about doing the right thing and sometimes that means stepping outside the four walls of the bank, rolling up your sleeves and digging in.

Just as the home is built on a solid foundation, working with our local Habitat offices gives us the opportunity to continue to build a solid foundation with our employees, directors, shareholders and the communities we serve, which is why community service is so important to Independence Bank. The reward is the joy and fulfillment that comes from helping others. While looking out into the crowd of people present for this exciting time, I would have to say that working with Habitat for Humanity on these first two homes has been one of the best return on investments in the bank’s history. So with that said, “Welcome home Martinez family!”  Thank you for allowing us to be a part of building a place for you to call home.

Remember: Houses are built with tools and sweat… Homes are built with families and love! I hope you consider the Independence Bank family to be part of your home.

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Post by Chris Reid at June 28th, 2010

Revolutionary Ways Land IB in the Top 10 in the Nation

Can doing the right, fair and honest thing for your customers, shareholders, employees and communities parlay into a nice return to investors?  At Independence Bank there are 232 revolutionaries that work at the bank and believe in an Old Banking Formula that has proven two years running that it is more than possible.  ABA Banking Journal announced in its June 2010 issue that Independence Bank has been named  one of the Nation’s Top 10 Performing Banks (page 36) in the  >$100 million <$3 billion category. IB placed #8 this year, bettering last year’s #11 finish.

When you examine the top 25 it might seem odd that a bank whose service charges are less than half of other top performers could be on the list.  It also seems strange that IB could make the top 10 with an “average” loan yield and deposit cost.  And then you examine the efficiency ratio of its employees and notice that it is also higher than normal top performing banks which indicates fairness to its employees which in turn leads to superior performance.  How is it possible IB could perform as one of the top 10 banks in the Nation when we did not follow the crowd?

It is possible because IB’s strategy has ALWAYS been to keep the customers’ best interest in mind when making all financial decisions.  We have recruited the top bankers in every facet of this industry.  This team has worked with our growing client base through the past several years to formulate stronger businesses, communities and personal wealth. When the recession hit, the vast majority of our clients had the strength to weather the milder Western Kentucky economic climate.  IB’s asset quality has remained extremely strong and this allowed the bank to leverage our capital while most banks had to constrict their capital use.

How did we do it?

Early in the Recession…

  • We found a way to grow the bank dramatically
  • IB solicited public deposits the big regional banks no longer wanted
  • Invested in solid US Government securities that had strong yields due to less foreign interest in the US market
  • Help our local governments agencies with deposits
  • Earn a fair return by investing in our government in their time of need

All the while…

  • We were voted as one of Kentucky’s Best Places to Work for 4 years in a row
  • We increased our contributions  to our communities
  • Funded and built 2 Habitat for Humanity Homes
  • And maintained our status as a well capitalized bank (as defined by FDIC – not just internally)

NONE OF THIS WAS DONE at the expense of customers, employees or our communities.

Making the top 10 performers in the Nation was never a strategic goal or even dreamed about by management…. It’s simply a result of our Revolution!

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Post by Chris Reid at June 18th, 2010

A Revolutionary Workplace

Well, we did it again. We have been named one of the Best Places to Work in Kentucky for the fourth year in a row. Of course that brings the public awareness and press coverage which in turn brings in the best bankers in the state as they find out how happy our employees truly are at Independence Bank.

Among all of the accolades and awards that Independence Bank has won over the years, this is the ONE that means the most to me. It is the ONE trophy that I keep in my office. The reason it is so important to me is because it tells me that we, as an employer, are succeeding in creating a family atmosphere and a workplace that our employees are proud to be a part of. Our employees are the third largest shareholder in the company and we value their opinions greatly. Winning this award means that our employees gave positive feedback that set us apart from other Kentucky businesses. The process not only allows us to find out where we stand among other companies in Kentucky but we also get the anonymous feedback once it has been interpreted by the Kentucky Chamber of Commerce.

We understand the hesitation that many companies would have in asking these questions of their employees, but we also know that this is how we better our workplace. We have done this for years and it shows in our advanced rankings over the last 4 years.

So why is Independence Bank the #6 Best Place to Work in Kentucky in the small to medium category? I think it’s because this is a family business and our true intention is to treat every employee as a member of our family.

That’s why…

  • During the 2009 ice storm, we didn’t think twice about driving from Owensboro to Alabama to purchase generators for employees without power.
  • Our employees are paid for their time that they volunteer on a Habitat for Humanity build and band together to support other causes like Relay for Life and Alex’s Lemonade Stand.
  • We chartered a bus on a bank holiday to take our employees Christmas shopping in Nashville.
  • We brought in Three Dog Night for the company Christmas party.
  • We’ve been known to give away a few cars and trips to Disney to our employees.
  • Our employees have formed a running club and attend races and walks together.
  • Our employees write the standards that they are expected to live by and get the opportunity to review them and make changes each year.
  • Our employees get the opportunity to indentify the things that they want to change in the Bank along with the things that should never change in the Bank.

We believe in sharing our success with those that help us achieve it. It may not be the best business practice for our bottom line but sharing is what families really do and THAT impacts our customer service in the best way possible.

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Post by Chris Reid at June 8th, 2010

A Revolutionary Investment

(From L to R) Lindsey Shepardson, David Blanford, Bailey Nelson, Caleb Browning, Jordan Barlow, Chris Reid, Kate McNulty, Kaliff Jones, Courtney Wright, Rachel Hobgood, Krystal Young and Carla Crespo. (Andrew Rivadeneira & Davin Shaw not pictured.)

How is Independence Bank revolutionary? The way we invest our money is revolutionary. We do this by making an investment in the education of our future generations. We believe in giving back to the communities that we live and work in. My father, Charles A. Reid, was determined to get his education but the only way possible was for him to enlist in the navy and use the G.I. Bill.   As he found himself in the nuclear fallout after Hydrogen Bomb tests in the Bikini Atoll Islands, he vowed that he would do everything in his power to send his children to college without putting their lives at risk in order to do so. He later decided that he would extend this commitment to high school seniors in the communities that Independence Bank serves and started the Independence Bank Scholarship Program.

Since the Independence Bank Scholarship Program began in 2001, a total of $229,250 has been awarded to many deserving high school students. This year, 96 high school seniors applied for 23 scholarships totalling $32,250 to the college of their choice. They were judged based on their high school grades, ACT scores, essays, financial need, extracurricular activities and personal interviews. Finalists were selected to compete for various scholarships up to $10,000. Finalists were interviewed by members of our Board of Directors as they too see the importance of investing in the education of our community’s youth. Many members of our board also contributed scholarships of their own to deserving students.

It is an honor to carry on the tradition that began with my father many years ago. I am always amazed by the talent and future leaders that I have the opportunity to meet each year during this process.

To find out more about the Independence Bank Scholarship Program and other revolutionary ways we invest our money, visit www.1776bank.com.

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Post by Chris Reid at April 26th, 2010