ABA and ACB to merge
Two powerful bank trade groups today announced plans for a merger.
The American Bankers Association and America’s Community Bankers today approved a merger between the two lobbying organizations.
The new group will operate under the American Bankers Association moniker.
Current ABA president and CEO Ed Yingling will retain his titles, while Diane Casey-Landry, president and CEO of ACB, would become executive vice president and chief operating officer of the new entity.
An umbrella association that addresses the interests of both community banks and holding companies is just what the industry needed, ACB chairman Mark E. Macomber said in a statement.
“As I have traveled the country the past few years, it has become clear from the bankers I’ve talked with that they were ready for a combined association,” he said.
Additionally, he said, banks that are members of the organization will generally pay less in dues.
The merger is expected to go into effect in fourth quarter.
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