Independent Banker - August 2017 - 18

With Interest
INDIE BANKER
This is your
grandfather's
bank
Kentland Federal Savings & Loan Association, ICBA's
smallest member, pleases customers the oldfashioned
way. CEO James Sammons explains how.
By Ed Avis
M
any community
banks compete
with giant institutions
by trying to
match their technology
and services tit for tat. When
the big bank down the road offers a
smartphone app or video ATM, community
banks follow suit.
Not so Kentland Federal Savings &
Loan Association in Kentland, Ind.
" On one side of our balance sheet,
you see real estate mortgages, period.
And on the other side, you see
CDs and savings accounts, period, "
explains CEO James Sammons, the
fourth generation of the Sammons
family to run the institution, which
was founded in 1920 in northwestern
Indiana's rural Newton County. " We
have no checking accounts, no ATMs.
And there are just two part-time
employees here besides myself. "
Kentland Federal Savings has
$4.7 million in assets, making it the
smallest ICBA member. That doesn't
seem to bother Sammons one bit.
" We feel that this size is right for us, "
he says. " It's allowed us to serve our
niche well. I'm dealing with thirdand
fourth-generation investors and
mortgagees. There are customers
here whose folks took out a mortgage
with my granddad. " Kentland, a
Kentland Federal Savings
& Loan Association
Kentland, Ind.
Assets: $4.7 million
Retail locations: One
Employees: Three
Founded: 1920
18 ICBA IndependentBanker August 2017

Independent Banker - August 2017

Table of Contents for the Digital Edition of Independent Banker - August 2017

Table of Contents
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