FOR IMMEDIATE RELEASE 
FOR MORE INFORMATION CONTACT:
David Oliver, GBA, (404)420.2036, [email protected]
Josh Miller, KeyState, (702) 598-3738, [email protected]

GEORGIA BANKERS ASSOCIATION ANNOUNCES ENDORSEMENT OF KEYSTATE’S BANK CAPTIVE PROGRAM

Atlanta, Georgia — The Georgia Bankers Association, through its subsidiary, GBA Services Inc, has endorsed the KeyState Captive Management’s Bank Captive program. For over 10 years KeyState has worked with Georgia banks providing Nevada investment subsidiary services and asset liability management (ALM) consulting services and is a respected vendor and business partner for many Georgia banks.

KeyState’s bank captive program provides Georgia banks over $450 million in assets with an opportunity to form their own captive insurance company to cover risks that are not currently commercially insured and enhance the risk management process at their bank. The captive insurance company is implemented by Crowe Horwath LLP, a national CPA firm, and then managed on ongoing basis by KeyState Captive Management. If properly structured, the captive can provide a bank with over $380,000 in annual, permanent tax benefit.*

“We have seen the success of KeyState’s bank captive program in Indiana, where the program was initially launched in partnership with the Indiana Bankers Association. After less than two years, 70 percent of banks in Indiana that fit the profile for forming their own captive insurance company have done so. The benefits of the captive are so compelling that the banker-led GBA Services, Inc. board voted to partner with KeyState to bring the captive program to our members” said Joe Brannen, CEO of the GBA.

“We are very pleased that the GBA has chosen to endorse KeyState for this innovative program for Georgia banks
and look forward to introducing this to GBA members” said Josh Miller, CEO of KeyState Companies.

*Potential savings is an after-expense estimate and will differ based on premiums paid to and claims paid by the captive in a given year.

About the Georgia Bankers Association

Founded in 1892, the Georgia Bankers Association promotes the general welfare and usefulness of banking and the preservation of a sound banking system. For 122 years, GBA has been the resource that empowers Georgia’s banks, providing effective government relations and public advocacy, a community of professional peers, top-quality education and professional development, and revenue-enhancing products and services.

About KeyState Companies

Founded in 1990, The KeyState Companies are based in Las Vegas, NV and provide banks with innovative and independent services and expertise in risk management, investments, treasury, regulatory compliance and corporate governance. KeyState is not a broker dealer. Learn more about KeyState Companies at http://www.key-state.com or call (702) 598-3738.