Rep. Tom Dermody, R-District 20, has been honored as 2013 Legislator of the Year by the Indiana Bankers Association (IBA). The award was presented by Amber R. Van Til, IBA senior vice president-government relations, at the Association’s Annual Convention on Sept. 24 in Indianapolis.

The representative was recognized for his assistance in ushering in the signing of HB 1018 into law. The resulting law reduced the Financial Institutions Tax; repaid funds borrowed from the Public Deposit Insurance Fund (PDIF); established a reversion of interest back to the PDIF; and placed a statutory fence around the PDIF, safeguarding a $300 million pool that protects local taxpayers. The PDIF pool was funded by Indiana banks.