Peter J. Sposito, CEO
Charlotte Hansen CPA, SVP/CFO
Elissa G. Reynolds, SVP
Susan W. Salecky, SVP
Peter T. Garland, SVP/CCO
Crystal Sides, SVP/Enterprise Risk Manager
Richard J. Nurge, VP
Charles Maynard, AVP/ Relationship Manager
Richard C. Layman, AVP/Senior Credit Analyst
Geoffrey S. Gibbons, Loan Administration Officer
Rachel Carlson, AVP/Information Systems Security Officer
Roxann Boyce, Accounting Officer
April MacClain, Client Services Officer
Lora L. Prior, Operations Compliance Officer
Anne H. Jones, Corporate Secretary / Office Manager
|| The Concept
The Bankers' Bank Concept
The first bankers' bank was formed in Minnesota
in 1976. Presently, there are 17 bankers' banks in operation.
Bankers' Bank Northeast opened September 8, 1998. Bankers'
banks, as reported by the Bankers' Bank Council, provide services
to over 6,000 depository institutions in 50 states. Bankers' banks attempt to
aggregate the processing volumes and activities of clients
to achieve economies of scale. In addition to being cost effective,
bankers' banks develop and provide products and services to their
clients that may not be readily available or too costly to
Bankers' banks are owned by investor financial institutions and may provide services only to financial institutions. Further, an investor 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, national banks and credit unions 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 depository institutions in their respective markets.