You
may have wondered what a Bankers Bank actually is.
Here are answers to some commonly asked questions.
Q.
Why a Bankers Bank?
A.
It's true that community banks generally have
advantages over holding company competitors in
local knowledge and quality of service. But when
it comes to matters such as cash letter and sophisticated
electronic services, credit card programs, participations,
overline loans and technology issues, even a well-managed
community bank can find itself at a disadvantage.
Bankers banks are the answer. Bankers banks can
do everything a major holding company upstream
correspondent bank can do, while offering superior
service and often more competitive pricing. There
is a big difference though; bankers banks don't
compete for your customers!
Q.
Who owns a Bankers Bank?
A.
Any community bank within the geographic area served
by a bankers bank has the right to buy bank stock.
Virtually all shareholders do business with their
bankers bank, but a community bank does not need
to be a shareholder to take advantage of a bankers
banks services.
Q.
What's so different about a Bankers bank?
A.
Correspondent banking isn't a sideline for a bankers'
bank - it's our only business. And because many
customers are also shareholders, we're answerable
to them not only as our customers, but also as investors.
Superior service and competitive pricing are the
result.
Moreover, a community bank that works with a bankers'
bank is never providing income to, or dealing with,
a potential competitor. And the products and services
offered are precisely those most desired by community
banks, delivered the way you want them.
Q.
Exactly what products and services are offered?
A.
They vary a bit from state to state, but here's
a typical menu:
Cash Letter /Sweep Account
Electronic Banking
Services
Federal Funds Transactions
(Buy or Sell)
Bank Stock, Participation
and Overline Loans
Loans Direct to Officers
& directors of Community Banks
Investments, Safekeeping
and Portfolio Accounting
Credit Card Programs
Compliance and Audit
Consulting
Volume Discounts on
Endorsed Products
Focus Groups and Resource
Sharing
International Services
Internet Banking Services
We
hope you may now have a better
understanding of what a bankers bank can do for
you.
Correspondent
banking is our first and only business, and we'd
like to hear from you. Please call us at our headquarters
in Camp Hill, Pennsylvania.
(717) 737-9335 or (717) 441-4700
