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About Us
The Concept
Directors
Investor Banks
Advisory Board
Peter J. Sposito, CEO
Allen L. Nielsen, EVP & CFO
Richard B. Lockwood III, SVP
Richard J. Nurge, VP
August A. Oliveira, VP
Elissa G. Reynolds, VP
Susan W. Salecky, VP
Megan L. Desso, AVP
Peter T. Garland, CCO
Support Staff
Contact Us
What's New
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The Concept
The Bankers' Bank Concept
The first bankers' bank was formed in Minnesota
in 1976. Presently, there are 21 bankers' banks in operation.
Bankers' Bank Northeast opened September 8, 1998. Bankers'
banks, as reported by the Bankers' Bank Council, provide services
to over 8,000 banks in 50 states. Bankers' banks attempt to
aggregate the processing volumes and activities of client banks
to achieve economies of scale. In addition to being cost effective,
bankers' banks develop and provide products and services to their
client banks that may not be readily available or too costly to
develop individually.
Bankers' banks are owned by investor banks and may provide services only to community banks. Further, an investor bank is not permitted to own more than 5% of the voting stock of a bankers' bank and may not invest an amount greater than 10% of its capital. State-chartered commercial and savings banks, savings and loan associations and national banks may invest in a bankers' bank.
Quarterly aggregated financial data compiled by the Bankers' Bank Council highlights the ability of bankers' banks to profitably and effectively deliver products and services. In the aggregate, bankers' banks provide services to over 58% of the banks in their respective markets.
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