FOR IMMEDIATE RELEASE

For More Information Contact:          

Steve Turkiewicz, Montana Bankers Association, (800)-541-5126 steve@montanabankers.com

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

 

Montana Bankers Association endorses KeyState’s Bank Captive Program

 

HELENA, MT. (June 2016) The Montana Bankers Association’s Insurance and Services, Inc. has endorsed KeyState’s Bank Captive Program.  Montana Bankers is one of twenty-three state banking associations to endorse this program.   The program is the largest and fastest growing bank captive program in the country.  

 

Montana banks with over $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.

 

“We are excited to bring this program to Montana banks.  We have one bank currently participating and look forward to more joining the program,” said Steve Turkiewicz, President/CEO. 

 

KeyState’s program was established in December 2012 and has been implemented by over 50 banks in 15 states and 9 fed districts. 

 

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About Montana Bankers Association

The mission of the Montana Bankers Association is to enhance the role of community banks as preeminent providers of financial services.  This mission is accomplished through efforts such as state and federal legislative and regulatory activities, legal action, communications, research, and education. Learn more about the MBA at http://www.montanabankers.com/ or call (800)-541-5126.

 

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.