NEBRASKA BANKERS ENDORSES KEYSTATE’S BANK CAPTIVE PROGRAM – DEC 2015

 


FOR IMMEDIATE RELEASE
For More Information Contact:
Scott Yank, Nebraska Bankers Association, (402) 474-1555 ext 213,scott.yank@nebankers.org
Bill Smythe, Nebraska Bankers Association, (402) 474-1555 ext 237, bill.smythe@nebankers.org
Josh Miller, KeyState Companies, (702) 598-3738, jmiller@key-state.com


Nebraska Bankers Association endorses KeyState’s Bank Captive Program


LINCOLN, NE. (December 2015) The Nebraska Bankers Insurance and Services Company is pleased to announce that it has endorsed KeyState’s Bank Captive program. The Association is now one of 17 state banking associations to endorse the program with several more endorsements in progress.

With this endorsement, banks with over $1 billion in assets will have the opportunity to form their own captive insurance company. The captive insurance company 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.

“This program has been very successful in other states and we are very pleased to bring its value to Nebraska Banks” says Scott Yank, NBISCO EVP, says.

The KeyState Captive Program will have 40 banks from 13 states participating by the end of 2015. The program expects to add up to 30 and another 10 state banking association endorsements in 2016.

###

About Nebraska Bankers Association
The association constantly monitors the banking scene, watchful for new ideas and approaches to help Nebraska’s financial institutions respond to an ever-changing environment. The NBA strives to respond quickly to events that impact its member institutions. Priorities include legislative representation, education, industry promotion and public relations, cost-saving products and services, and an array of other services designed to meet the needs of Nebraska’s banks and savings and loan institutions. Learn more about the NBA at http://www.nebankers.org/ or call 402-474-1555.


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.