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Read what bankers are saying about the CDARS service. CDARS
helped us substantially improve our liquidity by enabling us
to reduce the amount of securities we had to pledge to secure
public fund deposits. CDARS also helped us to build stronger
relationships with public fund depositors; they are pleased
that they can access $20 million in FDIC insurance by working
with just our bank."
-- Kevin R. Mullins, EVP and Chief Financial Officer
Monticello Banking Company, Monticello, KY
CDARS is a low-hanging fruit. It's easy to understand, simple to implement, and has helped us to attract business--including deposits from a highly sought-after local school building fund--that we otherwise would not have gotten."
-- Richard Coe, Chief Executive Officer
Portage Community Bank, Ravenna, OH, 8/06
We were one of the first members of the Promontory Network, we joined even before it began offering CDARS, we were among the first banks to do a CDARS transaction, we have placed tens of millions of dollars through CDARS transactions, and we have always been pleased with the results."
-- Earl McVicker, President and CEO
Central Bank and Trust, Hutchinson, KS
Chairman, American Bankers Association
Because CDARS makes it possible
to provide depositors with access to $20 million in FDIC insurance,
we have been able to cancel the private insurance we had in
place for certain of our customers—mostly individuals
and trusts—that required their deposits to be fully insured.
That saved us 15 basis points (or $1500) on every million dollars
placed through the Network."
-- Kevin R. Mullins, EVP and Chief Financial Officer
Monticello Banking Company, Monticello, KY
We didn't see deposits leave
and go to CDARS. We saw new money come in."
-- Tim McAdam, Vice President and Director of Marketing
Community Bank, Pasadena, CA
We realized that the toughest
part of keeping up with our asset growth is finding deposits.
CDARS is the answer to a prayer."
-- William A. Donius, Chairman and CEO
Pulaski Bank, St. Louis, MO
The whole process of implementing
the CDARS program from start to finish was handled efficiently
and quickly by the Promontory staff. We plan to include
CDARS as a major funding source for years to come."
-- Mike Anderson, Chief Operating Officer
Premier Bank, Jefferson City, MO
We think it will be very helpful
to consumers who are saving for retirement, a home mortgage,
or college tuition, as well as to small businesses, non-profit
groups, and churches."
-- William A. Donius, President and Chief Executive Officer
Pulaski Bank, St. Louis, MO
You owe it to your franchise to spend one hour with the Promontory Team learning how CDARS can impact your balance sheet, expand your customer relationship and improve your bottom line."
-- James P. Ghiglieri, Chairman
Alpha Community Bank, Toluca, IL
Chairman, Independent Community Bankers of America
This service will give us the
opportunity to grow our core deposits. By using the exchange
service, we will be able to obtain more deposits in our own
community and effectively have more dollars to lend within the
community."
-- Earl McVicker, Chairman and President
Central Bank, Hutchinson, KS
The benefit for investors is
they don't have to run all over town; the benefit to the bank
is we don't have to stop at $100,000."
-- Jim Walker, Vice President
El Paseo Bank, Palm Desert, CA
Palm Springs Desert Sun, March 5, 2004 CDARS is a wonderful service for
our bank customers. Our Business Development Advisor and
the rest of the staff at CDARS have helped us from day one.
Their training has been fantastic and we can always count on
them for any support we need. Our deposits have increased
as a result of having the CDARS service and our customers are
very happy to have this available to them."
-- Jorge F. Gonzalez, Executive Vice President
Falcon International Bank, Laredo, TX
CDARS
is a great success story in terms of customer retention."
-- Rhonda Swanson, Executive Vice President
and Chief Financial Officer
Palm Desert National Bank, Palm Desert, CA
Palm Springs Desert Sun, March 5, 2004 With
CDARS, we can offer our customers the convenience of local relationship
banking with security of investing in CDs with FDIC insurance.
And your CDARS transactions can make more credit available locally."
-- Marty Sellars, President
First National Banking Company, Ash Flat, AR
The Villager Journal, March 17-23, 2004 A lot of individuals are reaching
that $100,000 mark with their retirement savings. CDARS
is a way for them to protect those fixed-income funds through
one financial institution."
-- Alice Browning, Vice President of Accounting
First Federal Savings Bank of Eastern Ohio, Zanesville, OH The Daily Reporter, May 28, 2004 |
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