SAN FRANCISCO--(BUSINESS WIRE)--Bank Financial Services Group (BFS Group) announced today that it has been awarded the Western Independent Bankers (WIB) official endorsement for bank-owned life insurance (BOLI) and executive and director benefits consulting. WIB’s endorsement is granted by the WIB Service Corporation (WIBSCO), a subsidiary of WIB, for products and services that help community banks achieve success through education and advance sustainability through innovation.
This endorsement comes after a rigorous review and vetting process of BFS Group and its competitors. To be awarded such, companies must meet or exceed exacting standards designed to address the unique challenges of community banks, enhance customer relations, and contribute to the financial strength of the institution. Upon completion of an extensive due-diligence process, the BFS Group has been affirmed and awarded WIB’s exclusive endorsement.
"For the past 20 years, BFS Group has focused exclusively on serving and strengthening community banks and tailoring our service and products to their needs,” said Larry Rowley, Regional Managing Director of BFS Group. “And because WIB shares that same mission and set of values, we felt it to be a perfect partnership. We are 100% behind community banks and excited to move forward with WIB to better support these institutions which remain the backbone of growth and commerce in our communities and nation."
“Executive compensation and succession planning are at the top of many of our members’ list of priorities. In this time of industry change, attracting and retaining bank leadership is fundamental to sustainability,” said Michael Delucchi, President and CEO of Western Independent Bankers. “A partnership with BFS Group will deliver the exceptional design, implementation, and servicing of executive benefits necessary to meet the growing needs of our membership.”
About Western Independent Bankers and WIB Service Corporation
Established in 1937, Western Independent Bankers (WIB) is the premier banking trade association dedicated to achieving the highest standards of personal and organizational development through three channels of success: Informing, Educating, and Connecting bankers. With over 22,000 individual members across the Western United States, WIB focuses on serving the educational needs of the more than 550 independent community banks headquartered in the 13 Western state footprint. Western Independent Bankers Service Corporation (WIBSCO) is the wholly owned subsidiary of WIB. For more information, visit www.wib.org.
About BFS Group
BFS Group is a national leader in providing BOLI products, services, administration, and consulting. With an exclusive focus on community banks, BFS Group supports the management of all BOLI portfolios with the primary goal of providing unparalleled customer support, increasing the bank’s bottom line earnings, increasing shareholder value, and funding meaningful benefits for all bank employees. BFS Group delivers unmatched expertise in the design, implementation, and servicing of executive benefits to attract and retain key employees.