Welcome to Bankers' Bank
New BANKERS’ BANK Offices in Illinois and IndianaJanuary 25, 2010 — BANKERS’ BANK will staff and open additional offices in Illinois and Indiana. This expansion will poise BANKERS’ BANK to better serve the Midwest region and the customers of the closed Independent Bankers’ Bank (IBB) in Springfield, Ill. This move increases our presence, creating greater efficiencies for both existing and new customers.
Joining the BANKERS’ BANK staff are:
BANKERS’ BANK has served Illinois and Indiana since 2005 in response to market demand. While details of the new locations have not yet been finalized, the offices will provide support in each state and will serve as meeting locations for community bankers. The addition of experienced relationship managers in Illinois and Indiana demonstrates our commitment to the banks that were displaced by the closure of IBB. Not only do we have the management, capital and capacity to best serve them, but now we also offer them correspondent representatives who are already their trusted business partners.
For more information, please see
Media inquiries should be directed to
Barbara Zurbuchen
(608) 829-5785
December 31, 2009-Since the FDIC closed Independent Bankers’ Bank (IBB) on December 18, we’ve been getting a lot of questions from the bankers IBB served. While we don’t have all the answers in this quickly changing situation, we wanted to share a few of the common questions and our responses. Again, we extend our assistance in your transition to a new correspondent.
- If I wait for the bridge bank to be sold, will I recover some of my investment as a shareholder?
IBB shareholders are in 4th position to receive gains from the sale…(more) - Why not wait to see if another institution purchases the bridge bank?
YOU should choose your correspondent…(more) - How are IBB services handled when switching to BANKERS’ BANK?
A comfortable transition to BANKERS’ BANK…(more) - How do your services and costs compare to that of IBB?
Guaranteed to cost you less…(more)
“Bankers’ Bank of Madison, Wis., is in the best position to pick up the business of community bankers who will be looking for a new correspondent,”
— Tom Bengtson, Editor, NorthWestern Financial Review
We’re a strong Midwestern institution with 28 years of experience in serving banks like yours. We hope that you will consider our management, capital and capacity as you make the decision to transfer your correspondent relationships.
May we earn your business?
Sincerely,
Ronald L. Slater
President & CEO
BANKERS’ BANK, Madison, Wis.
FDIC Announces Failure of Independent Bankers’ Bank
December 18, 2009 -- Today the FDIC announced the failure of Independent Bankers’ Bank (IBB) in Illinois, a first in the 34-year history of the nation’s bankers’ banks. IBB played a valuable role for its financial institution customers throughout Illinois, Indiana and in other states.
Like you, we know the troubles that preceded today’s announcement about the failure of IBB were, to a large extent, due to the economic environment in which we all find ourselves.
Ronald L. Slater,
President & CEO
BANKERS’ BANK, Madison, Wis.
For more information, please see
Media inquiries should be directed to
Barbara Zurbuchen
(608) 829-5785
OWN.IT™ - Image Cash Letter Solution
OWN.IT™ is the industry leading cash letter solution provided by Bankers' Bank. More than 300 client banks are enjoying the benefits that OWN.IT offers. This client-to-client item exchange enables banks to clear checks at reduced fees with improved availability of funds. Bankers' Bank is one of the Midwest’s largest image exchange networks with more than 11 million checks cleared each month.
To learn more about this exciting product that can reduce your clearing costs, help you gain operational efficiencies and improve your availability contact your Correspondent Officer today.
CAPITAL MARKET PROGRAMS
Bankers' Bank has introduced a DTC Eligible Certificate of Deposit Funding Program for community banks. Well capitalized banks have the ability to receive CD deposits that are DTC eligible. Banks can take $1 – 50 million in deposits and Bankers' Bank will facilitate clearing through DTC, meaning one payment will take care of all deposits. Settlement generally occurs as quickly as 8 days after the order is placed with no additional fees through Bankers' Bank. Settlement will occur through your DDA account at Bankers' Bank. Unlike FHLB advances, no collateral is required.
Bankers' Bank also continues to provide a Municipal Certificate of Deposit Program. This program is eligible only to Wisconsin banks as funding is derived through 7 different Wisconsin municipalities and Government Agencies. Currently, over $560 million is placed in nearly 200 banks through these programs.
For more information on these alternative funding programs, please contact the Investment Department at (800) 955-4468.
PRIME RATE DECREASE
The Prime Rate has decreased by .75% from 4.00% to 3.25% effective December 17, 2008
An Equal Housing Lender