ICBA and Kanaly Trust Announce Strategic Partnership

LAS VEGAS, NV  (March 11, 2013)— The Independent Community Bankers of America® (ICBA) today announced a new strategic partnership with Kanaly Trust to provide community banks with a unique option to maximize their existing trust and wealth management assets. The announcement was made during the 2013 ICBA National Convention and Techworld® at the Wynn Las Vegas and Encore.

“Many community banks have successful and growing trust and wealth management offerings, but others face challenges, including succession, compliance and a difficult operating environment. Too often these banks are faced with divesting these valuable assets and risking client relationships,” ICBA Services Network President and CEO Gary Teagno said.

Kanaly Trust is a wealth management firm with more than $2 billion in assets under management. In addition to wealth management services, the company provides trust/estate services to families, individuals and estates. The firm is independent of any banking or corporate relationships and does not promote specific financial products or services. Along with ICBA, the new solution is backed by Lovell Minnick Partners, a private equity firm that invests in financial service companies and SEI (NASDAQ: SEIC), a leading global provider of outsourced processing and wealth management solutions for institutional and private clients.

With more than 35 years of experience, along with access to substantial capital, technology and human resources, Kanaly Trust will deliver comprehensive offerings and targeted expertise to clients. “This is a truly unique partnership that offers community banks a new solution for their trust wealth management businesses,” Bill Rankin, CEO of Houston, Texas,-based Kanaly Trust, said.

“Through this strategic partnership, ICBA member banks will now have a strategic alternative with a non-depository—without risk of losing deposits or related lending,” Cynthia Blankenship, ICBA Services Network chairman and vice chairman and chief operating officer, Bank of the West, Grapevine, Texas, said. “In the end, this is an opportunity for community banks who may wish to free up capital while continuing to provide unparelled services to their most valued trust clients.”

About Kanaly Trust

Kanaly Trust is a wealth management firm with approximately $2 billion in assets under management. The company provides comprehensive financial planning and trust/estate services to families, individuals and estates with assets in excess of $1 million. The firm is independent of any banking or corporate relationships and does not promote specific financial products or services. Kanaly Trust serves as the trustee or executor for estates totaling more than $2.5 billion, and works with clients worldwide. Based in Houston, Kanaly Trust was founded in 1975 by Deane Kanaly. For more information, visit www.kanaly.com.

About Lovell Minnick Partners LLC

Lovell Minnick Partners is an independent private equity firm providing equity capital for private company leveraged buyouts and recapitalizations, and growth capital for developing companies.  From offices in Philadelphia and Los Angeles, Lovell Minnick Partners manages private equity partnerships with committed capital totaling over $850 million.  Portfolio companies operate across a broad array of financial services, including asset management, banking, specialty finance, financial product distribution, securities brokerage, financial consulting services, and specialized outsourcing solutions.

About ICBA

The Independent Community Bankers of America®, the nation’s voice for nearly 7,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit www.icba.org.

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