Pub. 16 2019 Issue 1

24 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S BANK NEWS Visit us online! www.nmbankers.com www.facebook.com/pages/New-Mexico-Bankers-Association/371559049590485 American Bankers Mutual Insurance Ltd. Declares $2 Million Distribution to ABA Member Banks American Bankers Mutual Insurance, Ltd., the reinsurer for the directors and officers (D&O), bond and cyber insurance program endorsed by American Bankers Association (ABA) and New Mexico Bankers Association, declared a $2 million distribution to be shared by qualified ABA member banks insured through ABA Insurance Services. This is the 29th consecutive year that the indus- try’s leading professional liability and bond insurance provider has declared distributions to eligible ABA member banks, bringing the total to $86.3 million since the program’s inception. Over $767,000 of that has been shared with New Mexico banks. Banks that purchase their D&O, bond, cyber and related insur - ance from this program and are current ABA mem- bers are eligible to receive a distribution. “ABA works tirelessly to provide the greatest pos- sible value for our member banks,” said Rob Nichols, ABA president and CEO. “We are proud that we can continue to offer this stable, reliable and innovative source of insurance to our members that also pro- vides meaningful distributions year after year.” “This is a one-of-a-kind program designed specifi - cally for the unique needs of banks,” said Jeff Plagge, chairman of American Bankers Mutual Insurance Ltd. and president and CEO of Northwest Financial Corp. in Arnolds Park, Iowa. “Nearly three decades of annual distributions speaks to the program’s contin - ued strength and consistency.” n