ICBA Securities Corporation (ICBA Securities) is a service of the ICBA Services Network®, a wholly owned subsidiary of the ICBA (Independent Community Bankers of America). ICBA Securities was licensed in 1989 following two years of intensive research by ICBA's Bank Services Committee. As part of its research, the Bank Services Committee hired a bank consulting firm that helped them develop a comprehensive Request-For-Proposal that was distributed to 33 firms nationwide. Based on the proposals submitted and lengthy interviews over a six month period, the Committee selected Vining Sparks to serve as ICBA Securities' clearing broker. Vining Sparks was a logical choice based upon its
- Strong capital base,
- Reputation as a fair and honest broker/dealer,
- Expertise as a bank investment specialist, and
- Analytical tools such as
- A/L Model
- Bond Accounting
- Portfolio Simulator
ICBA Securities has nine directors, eight of whom are community bankers. This board of influential bankers has implemented a number of policies to help insure quality investment products and services at competitive market prices
- Sales representatives must meet minimum education and "clean record" requirements,
- Each trade must be audited against a fair mark-up policy, and
- ICBA members can only be shown previously approved securities that are predetermined to be suitable for community bankers.
Education is an important element of ICBA Securities. ICBA Securities representatives speak at and attend most state independent banking conferences. ICBA Securities conducts an average of 40 educational events per year, and co-sponsors as many as ten update seminars when new regulations are announced. ICBA Securities periodically hosts the Community Bank Investment Institute, which prepares new and upcoming portfolio managers for the responsibility. Every month the President of ICBA Securities, Jim Reber, writes an investment column for the Independent Banker magazine.
ICBA specializes in providing the products and support necessary to remain a competitive value-added broker/dealer for ICBA member banks. Products actively traded and carried in inventory include Treasuries and Agencies, Fixed Rate Mortgage Backed Securities, Adjustable Rate Mortgage Backed Securities, Collateralized Mortgage Obligations, Corporates, Municipals, SBAs and other securities suitable for community bank investments. Some of the services provided to customers include:
- Performance Profile with cashflow, market value, asset liability, and other portfolio analyses
- Bond Accounting
- Online portfolio analytics through myICBASecurities
- Transaction Analysis
- Research on new regulations or products via periodic research publications
- Daily Market Today and Weekly Market Outlook covering the fixed income markets
- Superior analytics from various proprietary systems to evaluate investment characteristics
- Quarterly comparisons of a particular institution to its high performing peer group and/or local competitors
Because ICBA Securities is owned by the nation's largest trade association for community banks, it has a commitment to return all of its profits to the industry, either in the form of royalties or dividends. Through 2010, it had reinvested over $31 million back into its supporting state/regional partners or into the ICBA.
ICBA Securities was founded by the ICBA to provide community bankers with quality investment products, services and education at competitive prices. If you would like to learn more about any of the above services, please contact your ICBA Securities sales representative or ICBA Securities President, Jim Reber at (800) 422-6442.