CHICAGO, IL — (Marketwire) — 01/03/12 — PMA Funding (PMA) — Preferred Service Provider of the Independent Community Bankers of America (ICBA) and a leading provider of bank deposit and funding solutions — has announced the expansion of its public funds deposit program within the state of Florida. PMA Funding has placed over $100 billion in public funds deposits since the inception of the Firm-s deposit program in 1988.
“We are excited to be working with local banks in Florida in an effort to collectively serve the needs of Florida-s public entities,” said Mike English, President and Chief Executive Officer of PMA Financial Network, Inc. “Public entities are a vital part of the state-s communities and they often rely on PMA and their local financial institutions to aid in the development and implementation of sound, proven investment strategies. Through PMA, local financial institutions now have access to a stable, predictable and low cost source of attracting deposits to be loaned to customers, which in turn will keep the community-s economic engine moving forward.”
Through its advisory relationships, PMA helps over 1,370 public entities match their assets to their liabilities, creating predictable and defined investment plans. PMA is then able to coordinate with local or national financial institutions to place the investments based on each client-s respective cash flow plan.
“Over the past 23 years, PMA has responded to the needs of public entities and community banks by building one of the leading public funds deposit programs in the country,” said Jim Lutter, Senior Vice President and Head of Trading at PMA Financial Network, Inc. “Today, we believe banks- need for efficient, predictable and diversified funding sources is just as great, and PMA-s deposit program is stronger than ever.”
Local financial institutions are often limited from participating in deposits of political subdivisions due to the cyclicality risk commonly associated with public funds deposits. That is, their deposit base decreases as liabilities come due, and increases as assets (tax dollars) are received. This does not typically provide a steady, core deposit base for banks. Through PMA, banks are able to diversify across various political subdivisions with different revenue streams, replenishing diminished public funds with those from other public entities, and mitigating the volatility associated with a single source of deposits.
PMA Funding — Preferred Service Provider of the Independent Community Bankers of America (ICBA) — is a service of PMA Financial Network, Inc. and PMA Securities, Inc. designed exclusively to help banks efficiently manage liquidity needs and develop diversified funding strategies through proprietary analysis and access to multiple funding solutions. Additional information is available at .
For a quarter-century, thousands of public and private entities have turned to PMA as a trusted partner and integral component of their long-term financial success. Serving both the investment and debt management needs of the public sector and the funding needs of the banking industry, PMA provides its clients with a diverse lineup of customized financial solutions, through a team of experienced professionals and some of the most innovative technology available. Additional information is available at .
Securities, public finance services and institutional brokerage services are offered through PMA Securities, Inc. PMA Securities, Inc. is a broker-dealer and municipal advisor registered with the SEC and MSRB, and is a member of FINRA and SIPC. Prudent Man Advisors, Inc., an SEC registered investment adviser, and provides investment advisory services to local government investment pools. All other products and services are provided by PMA Financial Network, Inc. PMA Financial Network, Inc., PMA Securities, Inc. and Prudent Man Advisors (collectively “PMA”) are under common ownership.
Securities and public finance services offered through PMA Securities, Inc. are available in CA, CO, FL, GA, IL, IN, IA, KS, MI, MN, MO, NE, OH, OK, PA, SD, TX and WI. This document is not an offer of services available in any state other than those listed above, has been prepared for informational and educational purposes and does not constitute a solicitation to purchase or sell securities, which may be done only after client suitability is reviewed and determined. All investments mentioned herein may have varying levels of risk, and may not be suitable for every investor. PMA and its employees do not offer tax or legal advice. Individuals and organizations should consult with their own tax and/or legal advisors before making any tax or legal related investment decisions.
Media Contacts:
Matt Kaufman
630-657-6433
Jim Lutter
630-657-6460