New Mexico Banks Receive $19,926 in Distributions from American Bankers Mutual Insurance Ltd.
American Bankers Mutual Insurance Ltd., the reinsurer for the insurance program co-endorsed by the American Bankers Association (ABA) and the New Mexico Bankers Association (NMBA), declared a $3.5 million distribution to be shared by qualified ABA member banks insured through ABA Insurance Services, a member of Great American Insurance Group.
This is the 34th consecutive year that the industry’s leading professional liability and bond insurance provider has declared distributions to eligible ABA member banks, bringing the total to $100.8 million since the program’s inception. ABA member banks that purchase their directors and officers (D&O), bond, cyber, property and casualty, and related insurance from this program are eligible to receive a distribution.
“We are proud of this program and its major milestone achievement of more than $100 million distributed to participating member banks,” said Rob Nichols, ABA president and CEO. “Between the reliable, annual distributions and the high-quality insurance products available, we believe this to be a valuable member benefit and hope others will consider participating.”
“Year after year, for more than three decades, this program has provided eligible ABA members with meaningful distributions and a long-term, stable source of quality insurance and risk services,” said Gary Hemmer, chairman of American Bankers Mutual Insurance Ltd. and chairman of the board of First National Bank of Waterloo in Waterloo, Illinois. “We hope members will look closely at the ABMI offerings as they evaluate their insurance needs going forward.”
To receive a distribution, a bank had to be a member of ABA with qualifying D&O, financial institution bond, property and casualty, and/or cyber insurance with ABA Insurance Services on Tuesday, January 16, 2024. Distributions took place in February 2024.
Kansas City Fed President Diane Raley Retires
Diane Raley, senior vice president, chief of staff and corporate secretary, retired from the Kansas City Fed in November 2023 after 25 years of service.
Raley’s career included pivotal leadership roles in communications, programming and district-wide relationship-building that increased the public’s connection to the bank and the Federal Reserve System.
Raley joined the Bank’s Public Affairs Department in 1998 after working in media and public relations roles for organizations in Cincinnati, Ohio, and Memphis, Tennessee. She was appointed to the position of assistant vice president in 2001, to vice president in 2004, and to senior vice president to the Regional, Public, and Community Affairs Division and corporate secretary in 2009, also serving as a member of the bank’s Management Committee. In 2005, Raley founded TEN magazine to highlight the bank’s research and public engagement work and share stories about how economic trends are affecting people, communities and businesses across the district.
In her time at the bank, Raley helped establish the branch executive roles in Denver, Oklahoma City and Omaha, further promoting regional outreach and connection with communities and industries. For 23 years, she also led strategy, planning, development and communications for the bank’s annual Economic Policy Symposium in Jackson Hole, Wyoming.
In addition to her leadership duties, Raley directly supported media relations for Bank Presidents Thomas Hoenig and Esther George and oversaw the bank’s recruitment of directors across the district, resulting in an increasingly diverse representation of the communities that the bank serves.
