– MB Financial Bank and Fiserv complete two rapid conversions, plans for a third –
Brookfield, Wis. — Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced today Chicago-based MB Financial Bank, the local operating unit of MB Financial, Inc. (NASDAQ: MBFI), has completed its conversions of FDIC-closed InBank and Corus Bank to the Signature(TM) bank platform. MB and Fiserv have a history of successful merger and acquisition technology partnering, with these most recent conversions completed in less than 90 days. Fiserv provides rapid conversion capabilities and scalable technology to support acquisitions with minimal disruption to operations and impact on customers.
MB acquired InBank on September 4, 2009 and Corus Bank on September 11, 2009, through FDIC-assisted transactions. This marks the second and third acquisitions by MB of FDIC-closed banks in 2009 following Heritage Community Bank earlier in the year. MB announced its fourth FDIC-assisted acquisition of loans and deposits from Benchmark Bank in early December 2009.
“With recent FDIC acquisitions, we have been able to provide our new customers safety and security of deposits and continuous availability to their accounts,” said Larry Kallembach, executive vice president and chief information officer, MB Financial Bank. “Timing is critical when it comes to successfully bringing an acquired bank into the fold and rapid integration is key to serving our customers, acclimating new staff members and ensuring operational efficiency for cost savings.”
Kallembach continued, “Our technology partner, Fiserv, has been most responsive to our delivery needs as we continue to grow and acquire. Their professionalism and experience has helped make the rapid integration process as seamless as possible to our customers. By converting the systems of the recent acquisitions in about 90 days, we are also better prepared to take advantage of the next opportunity.”
Since first deploying Fiserv technology in 1995 (as Manufacturers Bank), MB has acquired and merged 11 financial institutions with assets ranging from $227 million to $2.6 billion, increasing their assets from $700 million in 1995 to more than $11 billion today, in one of the country?s most competitive banking markets.
“Fiserv seeks to be a trusted partner to our clients in addition to our role as a technology provider,” said Tony Catalfano, division president, Bank Solutions, Fiserv. “By working closely with MB, we are able to keep pace with its goals for integrating acquired banks and delivering quality services to its customers. The more efficient we can make the process for customers, as well as bank staff, the more successful the bank will be in retaining customers and realizing cost efficiencies.”
Fiserv solutions provide real-time data across channels that enable its clients to provide an exceptional experience for their new customers – both from acquisition and organic growth. MB uses a comprehensive set of deposit, loan, EFT and cash management solutions from Fiserv to help it compete in the diverse Chicago-area market. The bank’s markets include middle market commercial banking, wealth management, retail and small business banking as well as a number of ethnic and niche communities. MB relies on Fiserv processing services and solutions to provide employees with consolidated customer information. Additionally, MB chose Fiserv to provide the most comprehensive financial management tools available, including enterprise-wide fraud protection, efficient transaction and payments processing, imaging, treasury management systems, risk solutions, item processing and multi-lingual capabilities.
MB depends on solutions from across all of the five Fiserv core competencies, processing services, payment services, insights and optimization, customer and channel management and risk and compliance.
About MB Financial Bank
MB Financial Bank is a locally-operated financial institution that has been delivering competitive personalized service for nearly 100 years to businesses and individuals who live and work in the Chicago metropolitan area. MB has over 80 locations throughout the Chicagoland area.
MB Financial Bank is the Illinois local operating unit of MB Financial, Inc., a financial services holding company which is traded on the NASDAQ as “MBFI.” MB Financial, based in Chicago, has more than $11 billion in assets. Information about MB Financial can be found at http://www.mbfinancial.com.
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrates its 25th year in 2009. For more information, visit http://www.fiserv.com.