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    Testimonials

    Promontory Interfinancial Network

    Member Experiences


    Jim Di Misa

    Executive Vice President/CEO
    Community Bank of the Chesapeake


    Brian Argrett

    President/CEO
    City First Bank of D.C.


    Charles Levingston

    Executive Vice President/CFO
    Eagle Bank


    John Milleson

    President/CEO
    Bank of Clarke County


    Jim McCarty

    Chief Administrative Officer
    Bank of Clarke County


    What Bankers Say

    [Promontory Interfinancial Network has] provided, if you will, a wonderful tool for us to fund the expansion of the bank. As we grow the scale of the bank, what we do is grow our capability, our capacity, to be able to lend back into the community. And that’s what it’s really all about, so that we can lend back into the community and really make a difference with these underlying businesses.
    Brian Argrett 
    President and CEO
    City First Bank of DC

    Promontory Interfinancial Network wants to serve us. It’s all about the relationship.
    Ken Burgess 
    Chairman
    FirstCapital Bank of Texas

    We have a partner in Promontory Interfinancial Network that really is what we need. They’re very knowledgeable. When you look at the sales and service and back support that you receive, that tells me from stem to stern that they’re a wonderful, professional partner.
    Jim Di Misa 
    EVP and COO
    Community Bank of the Chesapeake

    ABA first endorsed the services that Promontory Interfinancial Network offers [more than] 15 years ago. Our ongoing due diligence and strong banker validation reinforce the value Promontory Interfinancial Network provides to our members and the banking industry. Promontory Interfinancial Network’s services offer a versatile suite of financial solutions for banks of every size and type. The company has a solid track record of success in helping banks to improve their bottom line.
    Christine Walika
    Former Executive Vice President
    Community Bank Group and ABA Endorsed Solutions Group

    I started my career out as a bank examiner with the Federal Reserve. I can’t stress enough the importance of maintaining a strong and robust regulatory compliance infrastructure and overall risk management infrastructure. Promontory Interfinancial Network being such a significant vendor or partner, really, you know we have to go through a vendor due diligence process on an annual basis. I’ve never had any issue with presenting a dozen, two dozen questions to the folks over at Promontory Network and getting a very thorough and expeditious response from them. It shows in the culture of Promontory Network and how they’ve been able to help us deal with our vendor due diligence and compliance issues.
    Charles Levingston
    Executive Vice President, CFO
    Eagle Bank

    Unlike its competitors, Promontory Interfinancial Network doesn’t compete with us for our customers. We own our customer relationships. We set our rates. Promontory Interfinancial Network crafts its services from a banker’s perspective. Head to toe, Promontory Interfinancial Network is all about community banks. The company’s services level the playing field, helping us to better compete with much larger players.
    Jim Di Misa
    EVP and COO
    Community Bank of the Chesapeake

    The services Promontory Interfinancial Network provides give Main Street a fighting chance in competing for customers with nationwide and global financial institutions.
    Dan Clancy
    Former Executive Vice President, Services
    Independent Community Bankers of America

    [Promontory Interfinancial Network] gives us a lot of advantages that some of the largest institutions may have today so that we can provide some of our more sophisticated borrowers with the products and services that they really want.
    Frank Sorrentino
    Chairman and CEO
    ConnectOne Bancorp

    The products that Promontory Interfinancial Network offers…CDs through CDARS, and money market deposit accounts, demand deposit accounts through [the Insured Cash Sweep service] that are insured—those are products that appeal to a space that has, for community banks, been difficult to garner from the big box banks over the years.
    Jim Di Misa
    EVP and COO
    Community Bank of the Chesapeake

    It’s really important for us to have a stable, reliable, accessible, and nimble source of funding at a reasonable price, and that’s something that Promontory Interfinancial Network provides for us.
    Charles Levingston
    Executive Vice President, CFO
    Eagle Bank

    Because we are a member of the Promontory Network, we have an opportunity to generate fee income on deposits we are not using for lending when loan demand is slack.
    Phil Guarnieri
    CEO
    Empire State Bank

    One of the most powerful aspects of our relationship with Promontory Interfinancial Network is our ability to attract depositors who believe what we believe—believe that placing capital in an institution that is focused on making a difference in the community is a worthwhile practice. But they want to do so with a fair rate, without additional risk. Promontory Network allows us then to take those deposits and, in turn, invest them locally within the community, accomplishing both the community development objective but very importantly also the underlying desire of those depositors who understand and believe in what we’re doing. And so we’re quite appreciative of that relationship and that partnership that’s really enabled us to grow and to, in turn, serve our community.
    Brian Argrett
    President and CEO
    City First Bank of DC

    With the help of Promontory Interfinancial Network and access they provide to multi-million-dollar FDIC insurance, we’ve been able to build loyal, large-dollar relationships.
    Jim Langmead
    EVP and Chief Financial Officer
    EagleBank, MD

    We’ve been with Promontory Interfinancial Network for more than 10 years, and it’s been a wonderful relationship. It started with really the need to offer our high-end customers the opportunity to retain insurance for their deposits beyond the traditional FDIC insurance [limit], but we’ve gone way past that. Now, it’s churches, firehouses, school systems, government entities. The product diversification that Promontory Network offers has really appealed to these other constituencies.
    Jim Di Misa
    EVP and COO
    Community Bank of the Chesapeake

    In 2008, we were very tight on managing our collateral for public funds. Local municipalities were able to provide larger amounts of deposits but required protection. Prior to Promontory Interfinancial Network’s products, we had hard thresholds and a difficult time retaining and originating these relationships. As we continue to see growth of our balance sheet, Promontory Network’s products will be important to taking care of certain customers. I think our success allows us to serve that mission better.
    Jim McCarty
    Chief Administrative Officer
    Bank of Clarke County

    Promontory Interfinancial Network has been a big partner with us in order to fund growth.
    John Milleson
    President/CEO
    Bank of Clarke County

    I’ve been President & CEO since 1999. I remember going to a meeting and a guy told me that I would be the last president of the Bank of Clarke County because, at some point, the bank would be forced to sell because of all the regulatory pressures and constraints on earnings. And, you couldn’t keep your shareholders happy. In order to survive, we needed to grow. In a perfect world, you use core deposits, but core deposits and the loan demand sometimes don’t flow at the same time. So we’re able to use Promontory Interfinancial Network to sort of fill in and sort of level off the gaps there, and it’s been a real big help to us. And it allows us to sort of leverage the assets we have and the capital we have to grow.
    John Milleson
    President/CEO
    Bank of Clarke County

    Half of our members rely on Promontory Interfinancial Network’s services to attract deposits so they can make loans supporting community development in some of the most underserved urban neighborhoods and rural communities in the country. On average, the community development banks attract reciprocal deposits at four times the level of other community banks. That translates into loans to small businesses, loans for mortgages and home improvement, loans for revitalization projects—loans that otherwise would not be made.
    Jeannine Jacokes
    Chief Executive and Senior Policy Advisor
    Community Development Bankers Association

    It’s fair to say that Promontory Interfinancial Network’s deposit placement services provide a lifeline to minority-owned banks by enabling our members to attract large deposits from civic-minded and socially motivated investors and to put those deposits to work in communities we serve.
    Michael Grant
    Former President
    National Bankers Association