David W. Tralka was named the new president and chief executive officer of InsurBanc, a thrift institution owned by the Independent Insurance Agents & Brokers of America and W.R. Berkley Corporation.
The Farmington, Conn.-based bank said Mr. Tralka, 44, replaces Michael Herlihy, who left the institution to pursue new opportunities.
Mr. Tralka has over 20 years experience in banking and financial services, InsurBanc said. Until recently, he was with Merrill Lynch, where he served as chairman of Merrill Lynch Business Financial Services, part of the Merrill Lynch Global Bank Group.
In an interview with National Underwriter, Mr. Tralka said he has no intention of changing the service model of the institution, which focuses on servicing independent insurance agents.
"Our ambition is to add to the service suites to produce a better and more flexible product," he said. "It is all about growth. The idea is to grow the bank in both deposits and lending."
He said the bank will continue to keep the focus on serving independent agents.
"It is the business we understand, and to put their mind at ease, we plan to keep the focus on them," he noted. "We will continue to provide products and services to agents that other institutions can't match."
Among the services InsurBanc announced recently was a special loan program for qualifying agency principals affected by Hurricane Katrina. The bank is offering special pricing on short-term loans for hurricane-related expenses in Mississippi, Alabama, Louisiana and Florida.
"It is important for all to realize that we are here to service the agent community," said Mr. Tralka. "We want to be the one to help agents out."
InsurBanc is also handling the collection of donations for the Big "I" Hurricane Katrina Relief Fund.
Checks for contributions to the IIABA fund should be made payable to "Big 'I' Katrina Relief Fund" and mailed to: Big "I" Katrina Relief Fund, c/o InsurBanc, 10 Executive Drive, Farmington, CT 06032.
The bank said donations can also be made online with a credit card through the Big "I" Katrina Relief Fund site on the InsurBanc Web site, www.insurbanc.com. Contributions to the fund are tax deductible, InsurBanc added.
For more information about the loan program, call 1-866-467-2262 or e-mail [email protected].
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