The KeyState Companies...a small captive insurance company advantageous for your bank. If you have further interest in evaluating the formation of a small captive insurance company,

18 Hoosier Banker July 2013

availability and potential tax benefits may make the formation of a small captive insurance company advantageous for your bank. If you have further interest in evaluating the formation of a small captive insurance company, please contact Josh Miller or Travis Holdman with The KeyState Companies at 702-598-3738; or Rod Lasley at the IBA at 317-387-9380, email: [email protected]. We would be happy to schedule an introductory meeting with Crowe Horwath LLP to discuss the benefits of a captive. t

NOTE: Banks interested in forming a captive should consult with legal and tax advisers familiar with captive insurance company structures. Key-State makes no representations as to the effective-ness of any particular captive insurance structure. KeyState does not offer legal or tax consulting services.

What Is a Preferred Service Provider? A primary responsibility of the Indiana Bankers Association is to develop and maintain products and services that will benefit the IBA membership. In discharging this responsibility, there can be benefits to entering into a Preferred Service Provider (PSP) relationship.

The PSP designation has been awarded exclusively to fewer than 10 percent of IBA associate members. IBA’s rigorous selection process includes a thorough due diligence review: company

history, financial statement analysis, reference checks and search of business records. Criteria for PSP designation include:

• Value-added benefits available only to IBA members: cost savings and/or income enhancements;

• Business opportunity for the IBA: Each PSP contributes financial support to the Association through marketing fees and royalty payments.

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Northwest Indiana Business Quarterly Magazine has published its annual “Best of” list in its spring edition. Winning in the category of Best Bank for Business, Customer Service and Obtaining a Business Loan with locations across the region, the winner was Centier Bank, Northern Indiana. In the Greater South Bend/Michiana area, the winner was 1st Source Bank, South Bend. In the category of Best Investment and Financial Advisor Company, the winner was Peoples Bank Wealth Management, Munster.

Lynx Capital Corp., Indianapolis, has elected new board members that include Tim Massey, BMO Harris Bank, Indianapolis; David McNeely, PNC Bank, NA, Indianapolis; and Mark Pishon, Indiana Economic Development Corp.

Keefe, Bruyette & Woods Inc. has named the following IBA-members to its “Bank Honor Roll” of superior performers in recognition of strong performance over the past 10 years:

1st Source Corp., German American Bancorp Inc., Horizon Bancorp; JPMorgan Chase & Co., Lakeland Financial Corp., Republic Bancorp Inc., S.Y. Bancorp Inc., UMB Financial Corp. and Wells Fargo & Company. Honor Roll winners are publicly traded banking institutions with more than $500 million in total assets that meet the conditions of no annual loss reported in net income per share before extraordinary items over the past 10 years; 2012 annual reported net income per share before extraordinary items equal to or greater than peak net income per share over the past 10 years; and consecutive increases in net income per share before extraordinary items since 2009.

Seifried & Brew LLC, a community bank risk management firm, has named the following IBA-member banks in its recent listing of the top 15th percentile of community banks:Centier BankElberfeld State BankFirst Farmers Bank & Trust

First Robinson Savings Bank, NA1st Source BankFirst State Bank, BourbonFowler State BankFriendship State BankGerman American BancorpGreenfield Banking CompanyHorizon Bank, NAMainSource BankState Bank of BurnettsvilleState Bank of MedoraStock Yards Bank & Trust Company

American Banker magazine has published a list of the nation’s Top 200 Community Banks, including the following IBA members:Benton Financial Corp.Community Bank Shares of IndianaFarmers & Merchants BancorpFirst CapitalFirst Internet BancorpFirst Robinson Financial Corp.F.S. BancorpHorizon BancorpIndependent Alliance BanksNortheast Indiana BancorpNorthWest Indiana BancorpRiver Valley BancorpTower Financial Corp. t

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