The Independent Bankers Association of Texas (IBAT) and the Subchapter S Bank Association, Inc. of San Antonio, Texas, have agreed to a management services contract to better serve the 2,453 Subchapter S banks in the United States.  The agreement was announced Wednesday by Subchapter S Bank Association President Patrick J. Kennedy, Jr.  and IBAT President and CEO Chris Williston.

Under the terms of the agreement, IBAT will provide certain management services including membership recruitment, accounting and education services.  Mr. Kennedy’s law firm, Kennedy & Baris, LLP of San Antonio will continue to provide educational content as well as legal, legislative and regulatory support.  The firm will also continue to publish the Subchapter S Bank Report, a quarterly professional publication covering substantive topics of interest to Subchapter S Bankers.

“We are thrilled to enter into this agreement with IBAT,” said Pat Kennedy.  “Working with one of the premiere banking trade associations in the country to provide administrative support will allow our firm to concentrate on important legislative and regulatory enhancements for community banks operating as Subchapter S banks throughout the United States.”

“This is a natural extension of the many services we currently offer to community banks,” said IBAT President and CEO Chris Williston.  “Kennedy & Baris is uniquely qualified to assist all community banks with current and emerging legal issues, just as they have done for the past twenty-five plus years.”

The IBAT Board of Directors approved terms of the agreement in a meeting last month.

The Subchapter S Bank Association will maintain its corporate offices in San Antonio and is dedicated to its exclusive representation of Subchapter S banks and their unique legislative, regulatory and education needs.

Contacts:
For IBAT:  Christopher L. Williston, President and CEO, 512.474.6889
For Kennedy & Baris, LLP:  Patrick J. Kennedy, Jr., Principal, 210.228.9500
For Subchapter S Bank Association:  Bruce Toppin, Executive Director, 210.228.9961