April 5 – The Independent Community Bankers of America have announced the promotion of Joseph Schneider, director of state relations, to vice president of state relations. In his new role, Schneider, who has been with the association since 2009, will continue to serve as the primary liaison between ICBA and its network of 46 affiliated state and regional partner associations.
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Nov 4 – Pioneer Financial Services, a subsidiary of MidCountry Financial Corp., has announced that Joe Freeman will serve as president of the company effective Oct. 29, 2010. While he has served as president of Pioneer Financial Services’ subsidiary companies, Freeman will now add the responsibility of president of the holding company, as well as continue his role as chief operating officer. Freeman assumes the position from Thomas H. Holcom, who has been named chairman.
August 11 – ICBA Bancard, the payments services subsidiary of Independent Community Bankers of America, announced that its credit card bank, TCM Bank, N.A., has acquired the agent bank portfolio of Fifth Third Bank. The purchase marks the largest credit card acquisition in TCM’s history, bringing its total assets to $292 million.
July 25 – A bipartisan coalition of 70 senators urged the Consumer Financial Protection Bureau to carefully tailor its financial rules to match the unique role of community banks and credit unions in cities and towns across the country. (more…)
By Joe Wheeler
Have you ever considered that what happens in the state capitols and Washington D.C. can result in substantial risk to your bank? The truth is, it can.
May 16 -Ellie Mae, a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, has developed a process with Wells Fargo to enable joint customers to deliver loan data in a streamlined, efficient and secure manner.
April 18 – Five of the largest U.S. commercial banks — Capital One, Fifth Third, PNC, TD, and Wells Fargo — and Safeguard Scientifics have invested a total of $30 million in Transactis, a leading provider of electronic billing and payment solutions. Each bank, along with Safeguard, invested an equal amount in Transactis as part of a Series E financing, demonstrating the banks’ continued leadership in payments innovation. Transactis’ technology reaches more than 100 million households and businesses in North America.
January 25 – FS Bancorp, Inc., the holding company for 1st Security Bank of Washington (“1st Security Bank”), has announced that 1st Security Bank has completed the previously announced purchase of four branches of Bank of America. The four branch locations are located in the communities of Port Angeles (8th Street), Sequim, Port Townsend and Hadlock, Washington. In connection with the purchase, 1st Security Bank acquired approximately $189 million in deposits and less than $500,000 in loans.
December 10 – The Independent Bankers Association of Texas presented three teachers from across the state with its Teaching Excellence in Financial Literacy Award. This year’s recipients are Kay Whitton, who teachers 9th through 12th grades at Jim Ned High School in Tuscola; Cindy Reynolds, who teaches 10th through 12th grades at Dripping Springs High School in Dripping Springs; and Christi Fuchs, who teaches 4th and 5th grades at Cuero Intermediate School in Cuero. As part of the award, each teacher received $1,000.
December 11 – Analysis of Black Friday through Cyber Monday card transaction data by payments processor TMG (The Members Group) shows credit and debit cardholders are increasingly relying on digital means to check off their holiday shopping lists.