For More Information Contact:          

Scott Miller, Alabama Bankers Association, (334) 244-9456 [email protected]

Josh Miller, KeyState Companies, (702) 598-3738 [email protected]



Alabama Banking Services endorses KeyState’s Bank Captive Program


MONTGOMERY, AL. (January 2016) Alabama Banking Services, a subsidiary of the Alabama Bankers Association, voted unanimously to endorse KeyState’s Bank Captive Program.  ABA is the latest of 19 state banking associations to endorse this fast growing program.


Alabama banks with more than $1 billion in assets will have the opportunity to form their own captive insurance company through KeyState’s Bank Captive Program.  The captive augments a bank’s commercial policies by covering the existing commercial deductible layers, increasing coverage levels on existing policies (excess layers), and identifying other currently unfunded risks to insure where commercial insurance is not available to the bank. The captive insurance company is implemented by Crowe Horwath LLP, a national CPA firm, and then managed on an ongoing basis by KeyState Captive Management.  If properly structured, the captive may also allow the bank to take advantage of a significant small business incentive available under a section of the tax code.


“There is a lot of enthusiasm by our board and our bankers for KeyState’s program.  We already have one Alabama bank in the program and we look forward to more Alabama banks joining in 2016 and beyond,” Scott Latham, president and CEO of the Alabama Bankers Association, said.


KeyState’s program was established in December 2012 and since has been implemented by more than 40 banks in 13 states and seven fed districts.  The program is the largest bank captive program in the country. 




About Alabama Bankers Association

The Alabama Bankers Association represents 150 member banks throughout the state. Banks in Alabama have combined deposits of more than $83.5 billion and have 1,554 locations across the state. Learn more about the ABA at or call 334-244-9456.



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 or call (702) 598-3738.