With communities in eastern Kentucky devastated by catastrophic floods that have killed at least 35 people over the last week, the American Bankers Association is encouraging bankers across the country to support disaster relief efforts by contributing to the Kentucky Bankers Association’s Kentucky Bankers Relief Fund, which is providing direct assistance to bank employees impacted. As of Monday morning, parts of the state still remained under a flood warning and the forecast called for more rain.
At least 23 bankers from six Kentucky institutions have been directly affected by the disaster. KBA has already been working to provide immediate financial assistance to bank employees, including one whose home was completely destroyed by the flooding. KBA has also sent $5,000 directly to First National Bank of Manchester to aid local relief efforts in the community. The association will continue to monitor the situation and provide relief to Kentucky communities through the fund as the full extent of the damage becomes known.
In related news, the OCC today issued a proclamation allowing national banks and federal savings associations affected by the weather conditions to close. The OCC reminded banks of its supervisory guidance on natural disasters and other emergency conditions.