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FOR IMMEDIATE RELEASE
For more information please contact:
Bob Newman, CFA
Bankers' Bank Northeast
Bankers' Bank Northeast, Chatham Financial Corp. Enter Into A Cooperation Agreement
June 24, 2013
Will Offer Comprehensive Risk Management Strategies For Community Depository Institutions
Glastonbury, Conn.: Bankers' Bank Northeast and Chatham Financial are pleased to announce that they have entered into an arrangement to provide BBN clients access to risk management solutions including Asset-Liability Management (ALM) Hedging, Fixed Rate Loan Swaps and Borrower Facing (Back-to-Back) Swaps.
In addition to expert advisory services offered in conjunction with the risk management solutions, clients will have access to comprehensive training, Dodd-Frank regulatory compliance assistance, borrower communications, accounting entries, effectiveness testing and billing.
Combining the operational excellence of BBN with the expertise of Chatham will allow community-based depository institutions access to an array of interest rate risk management tools.
"While interest rates have been low for a long time we all know that rates will rise over time. Our new alliance with Chatham will get the risk mitigation tools used by larger financial institutions into the hands of community depository institutions," said Peter J. Sposito, President and CEO of Bankers' Bank Northeast.
J. Robert Newman, Managing Director of Chatham Financial, added: "Chatham is thrilled to assist BBN's network of clients to expand their lending operations and risk management processes to include interest rate hedging. BBN's quality of service and banking knowledge combined with Chatham's derivatives market experience and expertise will make hedging solutions available to institutions that might not have been able to consider the prudent use of swaps previously."
About Bankers' Bank Northeast:
Bankers' Bank Northeast (BBN) offers a reliable source for correspondent services. Our mission is to assist in the growth and prosperity of community based depository institutions. As a result, we are committed to providing high quality, leading-edge products and services. Bankers' Bank Northeast provides credit, operational, risk control and advisory services to investor and non-investor depository institutions. A relationship with Bankers' Bank Northeast offers the opportunity for cost savings, revenue enhancement, improved competitiveness, and scalable growth in a high quality, secure, responsive, consistent and reliable manner. Bankers' Bank Northeast is never a competitor - we are a business partner.
About Chatham Financial Corp.:
Chatham Financial is a full-service risk management advisory services and technology solutions firm, serving clients in the areas of interest rate, foreign currency and commodity hedge advisory, hedge accounting, regulatory compliance, and debt and derivatives valuations. Chatham Financial has actively participated in the regulatory reform debate in the US and Europe and has become a nexus of knowledge for end users. Chatham Financial has provided policy and technical advice to trade associations and clients regarding the impact of derivatives regulation.