Independence Bank Named 30th on List of Best Banks to Work For by the ABA
Being named a Best Bank to Work for by American Banker Association isn’t a fluke; when it happens seven times. Instead, this accolade is the culmination of extensive efforts on the part of a company that cares deeply about their employees and works hard to create a culture that reflects that.
In fact, employees are the second largest shareholder of the Bank through the company’s 401 (k) ESOP plan. So to say they are invested in the success of Independence Bank would be an understatement.
“We tell every new employee that they have something to add that will make our Bank better. Feedback from all employees is encouraged, they are asked to reflect on their previous experiences and tell us what works and what doesn’t,” said Jacob Reid, President.
So what does it take to get recognized on a national scale as a Best Bank to Work for? That’s what Independence Bank attempts to answer each year in their “5 Things Survey.” This tradition dates back to the early days, when CEO, Chris Reid, took over at the helm of the company and knew that for the revolution to be a successful one, it had to be spearheaded by the very best people who wanted to create a great organization. With that acknowledgement came the responsibility and understanding that to recruit those people, and keep them, the Bank had to be invested in providing a workplace where they could thrive.
From there, the “5 Things Survey,” was born. Employees are asked annually to provide five things they hope never change about the culture at Independence Bank, five things they wish would change and five projects they believe the Bank should take on in the future.
“This truly is a revolutionary way to approach culture and employee satisfaction,” said Nick Smith, Human Resources Director. “What this survey does, is not only reveal to us the opinions of our employees, but it does so in a constructive way that allows them to express themselves while contributing to the company’s overall strategic plan. This isn’t just an empty effort on the part of management; we carefully examine these results and consider each and every one we receive. Many of them lead to policy changes, operational shifts and our focus for the next year.”
This acknowledgement from American Banker comes on the heels of a state designation of Independence Bank as a Best Place to Work in Kentucky for the 12th year just last month.
“It may sound simple, but I have always believed that if you take care of your people, everything else will fall into place. I tell our managers, ‘Make it fun. Let your staff know they are appreciated and do something out of your way for them.’ This advice has really molded our culture and I could not be more proud of the result,” said Chris Reid, Chairman and CEO. “We truly are a family. We work hard, and it shows. But we play hard too, and celebrate every success.”
As the Bank reflects on what could only be described as a unique year, the recognition they received as a place of employment is among the top five things they don’t intend to ever change.
“Being named as a Best Bank to Work for is affirmation that we are staying true to who we are as a financial institution,” said Jacob Reid. “That the people who are the face of our revolution know just how special they are. I’m proud of our team and proud to call them my Bank family.”
Independence Bank is a regional community bank with 25 locations in Calloway, Daviess, Franklin, Graves, Hancock, Henderson, Hopkins, Jefferson, McCracken, McLean, Warren and Webster counties. One of the fastest growing banks in Kentucky and fifth largest, Independence Bank possesses the size and experience to serve the largest and most complex clients and offers trust and investment services and agricultural services. As a banking revolution for the people, by the people, central to Independence Bank’s mission is doing what is right and fair for customers, communities and employees. Independence Bank has been recognized in multiple categories by the American Bankers Association, including being named a Top Performing Bank and Best Bank to Work For, for 11 consecutive years, a Best Place to Work in Kentucky for 12 years and has assets totaling $2.9 billion.