Commerce Bank, the principal subsidiary of Commerce Bancshares, Inc. a $17 billion, Missouri-based regional bank holding company, has successfully implemented the OBS Online Messenger Alerts service to provide clients with full detail of their incoming and outgoing wires.
Long time OBS customer Commerce Bank leveraged the highly flexible Online Messenger platform to roll out additional event-based multi-channel reporting to meet the growing needs of the business banking market. This service extends traditional online information reporting to both the email and text message channels.
"With the new service, Commerce customers are among the first in the banking industry to receive encrypted messages
containing detail of their wire transactions - considered much more useful than simple notifications that a wire has been received," said Bruce Bienhoff, vice president, Product Development, Commerce Bank.
"Wire notifications add real-time reporting to traditional Treasury Management products and services," says Joe Spatarella, OBS vice president of Sales and Marketing. "In the current volatile environment, up-to-the- minute information about transactions is a requirement for funds management and control."
Showing posts with label Missouri. Show all posts
Showing posts with label Missouri. Show all posts
Monday, 20 October 2008
Commerce Bank
Commerce Bank, N.A. is a subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH) , a $17 billion regional bank holding company. For more than 140 years, Commerce Bank has been meeting the financial services needs of individuals and businesses. Commerce Bank provides a diversified line of financial services, including business and personal banking, wealth management and estate planning and investments through its subsidiary and affiliated companies. Commerce Bank currently operates in approximately 350 locations in Missouri, Kansas, Illinois, Oklahoma and Colorado. Commerce Bancshares also has operating subsidiaries involved in mortgage banking, leasing, credit-related insurance, venture capital and real estate activities.
Friday, 5 September 2008
Mercantile Complete Missouri Banking Mergers
Mercantile Bancorp, Inc. (AMEX: MBR) announced today it has received regulatory approval to combine its two Missouri-chartered banks, Perry State Bank, with HNB National Bank, a wholly owned subsidiary of HNB Financial Services, Inc., all entities wholly owned by Mercantile. As of this date, Perry State Bank's five facilities are now HNB National Bank locations. Remaining operational and other necessary changes will continue to take place over the weekend and new HNB signage will be installed in the coming weeks.
In 2007, Mercantile announced its intent to seek approval to consolidate Perry State Bank under the HNB National Bank name. The combined operations will account for more than $350 million in assets with ten full-service locations, serving the Missouri communities of Hannibal, Palmyra, Monroe City, Perry, Bowling Green, Troy and Wentzville. Ronald B. Verdier remains president and CEO of HNB National Bank and Glen A. Bailey, formerly president of Perry State, is now HNB National Bank's regional president.
"We have been anticipating and carefully planning for this unification to ensure the transition is as seamless as possible," explained Ted T. Awerkamp, President and CEO of Mercantile Bancorp. "Employees and management at both Perry State and HNB are enthusiastic and have done an outstanding job working together to coordinate their efforts. Customers of both banks have been very positive, understanding they will continue to receive the same excellent customer care and dealing with the same bankers. Both of these banks perform and serve their communities well, and as one bank will become the preeminent banking franchise in northeast Missouri."
Awerkamp noted the holding company expects the consolidation to generate operational efficiencies and regulatory and compliance expense savings.
In 2007, Mercantile announced its intent to seek approval to consolidate Perry State Bank under the HNB National Bank name. The combined operations will account for more than $350 million in assets with ten full-service locations, serving the Missouri communities of Hannibal, Palmyra, Monroe City, Perry, Bowling Green, Troy and Wentzville. Ronald B. Verdier remains president and CEO of HNB National Bank and Glen A. Bailey, formerly president of Perry State, is now HNB National Bank's regional president.
"We have been anticipating and carefully planning for this unification to ensure the transition is as seamless as possible," explained Ted T. Awerkamp, President and CEO of Mercantile Bancorp. "Employees and management at both Perry State and HNB are enthusiastic and have done an outstanding job working together to coordinate their efforts. Customers of both banks have been very positive, understanding they will continue to receive the same excellent customer care and dealing with the same bankers. Both of these banks perform and serve their communities well, and as one bank will become the preeminent banking franchise in northeast Missouri."
Awerkamp noted the holding company expects the consolidation to generate operational efficiencies and regulatory and compliance expense savings.
Saturday, 16 August 2008
Wachovia Announces ARS Settlement
Wachovia Corporation announced today that it has reached an agreement in principle for a global settlement with the Missouri Secretary of State (as the lead State in the North American Securities Administrators Association task force investigating the marketing and sale of auction rate securities, or ARS), the Attorney General for the State of New York and the Securities and Exchange Commission regarding ARS. Wachovia is pleased that the settlement produces a liquidity solution for its clients who purchased ARS at Wachovia.
"We understand that unprecedented market conditions have created difficulties for our clients, particularly those holding auction rate securities," said Robert K. Steel, president and chief executive officer of Wachovia Corporation. "We are pleased to announce a comprehensive solution for the liquidity needs of clients who purchased auction rate securities at Wachovia and to resolve this matter with federal and state regulators."
Daniel J. Ludeman, president and chief executive officer of Wachovia Securities, LLC, said, "Since this issue arose in February when auctions first started to fail, we have played a leading role in encouraging ARS issuers to restore liquidity to all of our clients, including those who have become part of our firm through the Oct. 1, 2007, merger of A.G. Edwards and Wachovia Securities. The dollar value of ARS held by Wachovia Securities clients has been cut by more than 50 percent through redemptions and successful auctions. Today's agreement in principle underscores our desire to ensure that clients who purchased ARS at Wachovia receive the liquidity they need."
"We understand that unprecedented market conditions have created difficulties for our clients, particularly those holding auction rate securities," said Robert K. Steel, president and chief executive officer of Wachovia Corporation. "We are pleased to announce a comprehensive solution for the liquidity needs of clients who purchased auction rate securities at Wachovia and to resolve this matter with federal and state regulators."
Daniel J. Ludeman, president and chief executive officer of Wachovia Securities, LLC, said, "Since this issue arose in February when auctions first started to fail, we have played a leading role in encouraging ARS issuers to restore liquidity to all of our clients, including those who have become part of our firm through the Oct. 1, 2007, merger of A.G. Edwards and Wachovia Securities. The dollar value of ARS held by Wachovia Securities clients has been cut by more than 50 percent through redemptions and successful auctions. Today's agreement in principle underscores our desire to ensure that clients who purchased ARS at Wachovia receive the liquidity they need."
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