FOR IMMEDIATE RELEASE

For More Information Contact:  

Bill Holmes, Arkansas Bankers Association, (501) 978-3602, bill.holmes@arkbankers.org

Josh Miller, KeyState Companies, (702) 598-3738, jmiller@key-state.com

 

 

Arkansas Bankers Association endorses KeyState’s Bank Captive Program

 

LITTLE ROCK, Ark. (May 2015) Arkansas’ banks will soon be presented with the benefits of a captive program due to the endorsement of KeyState’s Bank Captive Program by the Arkansas Bankers Association (ABA).

 

Arkansas banks with over $1 billion in assets will have the opportunity to form their own captive insurance company through KeyState’s 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.

 

“Several banks in Arkansas are currently exploring the structure and this program has been extremely successful in other states.” explained Bill Holmes, ABA President/CEO. “Over 90 percent of Indiana’s eligible banks have already formed or will form their own captive insurance company since the Bank Captive Program was introduced by KeyState, a little more than two years ago.”

 

The KeyState Captive Program has been endorsed by ten state banking associations or their for profit subsidiary with several other endorsements in progress.

 

 

 

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About Arkansas Bankers Association

Arkansas Bankers Association (ABA) is the advocate for Arkansas banks of all sizes and charter types before the governmental bodies and the public. The ABA’s mission is to promote the banking industry, function as the government relations liaison, offer educational opportunities and promote services to its membership. Learn more about the ABA at www.arkbankers.org or call 501-376-3741.

 

 

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.