The Retail Banks Market: Generating Revenues Beyond Net

11.03.01 – Retail Banks Tiburon Strategic Advisors, LLC™ 1

Markets & Distribution Channels Research Report Series

The Retail Banks Market: Generating Revenues Beyond Net Interest Income

through Private Banking, Wealth Management, &Trust, Asset Management, & Bank Brokerage Businesses

March 2011


TABLE OF CONTENTS

INTRODUCTION, KEY FINDINGS, & EXECUTIVE SUMMARY....................................57

EVOLUTION OF THE RETAIL BANKS INDUSTRY ......................................................98 Market History ......................................................................................................................98

Emergence Phase ..................................................................................................98 Great Depression Phase.........................................................................................98 Historically Dominant Phase ...................................................................................99 Full-Service & Discount Brokers Emergence Phase .............................................100 Market Slowdown Phase ......................................................................................106 Consolidation & Concentration Phase...................................................................110

Market Definition ............................................................................................................... 113 Federally Chartered Retail Banks .........................................................................113 State Chartered Retail Banks................................................................................113 Foreign Banks with Retail Presence .....................................................................113 Credit Unions........................................................................................................113

Market Growth................................................................................................................... 114 Retail Banks .........................................................................................................114 Retail Bank Branches ...........................................................................................115 Retail Bank Employees.........................................................................................115 Retail Bank Clients ...............................................................................................115 Retail Bank Accounts............................................................................................115 Retail Bank Assets................................................................................................115 Retail Bank Deposits.............................................................................................116 Retail Bank Revenues ..........................................................................................116 Retail Bank Net Profits..........................................................................................116

Leading Retail Banks ........................................................................................................ 117 Retail Bank Branches ...........................................................................................117 Retail Bank Employees.........................................................................................117 Retail Bank Clients ...............................................................................................117 Retail Bank Accounts............................................................................................118 Retail Bank Assets................................................................................................118 Retail Bank Deposits.............................................................................................118 Retail Bank Revenues ..........................................................................................118 Retail Bank Net Profits..........................................................................................119

MARKET SEGMENTATION........................................................................................120 Federally Chartered Retail Banks..................................................................................... 120

Market Definition...................................................................................................120 Top Ten Federally Chartered Retail Banks ........................................................120 Other Federally Chartered Retail Banks ............................................................120

Market Growth ......................................................................................................121 Retail Banks ......................................................................................................121 Retail Bank Branches ........................................................................................121 Retail Bank Employees......................................................................................121 Retail Bank Clients ............................................................................................121 Retail Bank Accounts.........................................................................................121 Retail Bank Assets ............................................................................................121 Retail Bank Deposits .........................................................................................122 Retail Bank Revenues .......................................................................................122


Retail Bank Net Profits.......................................................................................122 Market Segmentation............................................................................................122

Top Ten Federally Chartered Retail Banks ........................................................122 Other Federally Chartered Retail Banks ............................................................122

State Chartered Retail Banks ........................................................................................... 122 Market Definition...................................................................................................122

New York Chartered Retail Banks .....................................................................123 Other State Chartered Retail Banks...................................................................123

Market Growth ......................................................................................................123 Retail Banks ......................................................................................................123 Retail Bank Branches ........................................................................................123 Retail Bank Employees......................................................................................123 Retail Bank Clients ............................................................................................123 Retail Bank Accounts.........................................................................................123 Retail Bank Assets ............................................................................................123 Retail Bank Deposits .........................................................................................123 Retail Bank Revenues .......................................................................................124 Retail Bank Net Profits.......................................................................................124

Market Segmentation............................................................................................124 New York Chartered Retail Banks .....................................................................124 Other State Chartered Retail Banks...................................................................124

Foreign Banks with Retail Presence................................................................................. 130 Market Definition...................................................................................................130

Foreign Banks with Retail Presence ..................................................................131 Foreign Banks with Institutional Presence .........................................................131

Market Growth ......................................................................................................131 Retail Banks ......................................................................................................131 Retail Bank Branches ........................................................................................131 Retail Bank Employees......................................................................................131 Retail Bank Clients ............................................................................................131 Retail Bank Accounts.........................................................................................131 Retail Bank Assets ............................................................................................132 Retail Bank Deposits .........................................................................................132 Retail Bank Revenues .......................................................................................132 Retail Bank Net Profits.......................................................................................132

Market Segmentation............................................................................................133 Foreign Banks with Retail Presence ..................................................................133 Foreign Banks with Institutional Presence .........................................................133

Credit Unions..................................................................................................................... 133 Market Definition...................................................................................................133

Military-Based Credit Unions .............................................................................133 Employer-Based Credit Unions..........................................................................133 Other Credit Unions...........................................................................................133

Market Growth ......................................................................................................133 Retail Banks ......................................................................................................134 Retail Bank Branches ........................................................................................134 Retail Bank Employees......................................................................................134 Retail Bank Clients ............................................................................................134 Retail Bank Accounts.........................................................................................134 Retail Bank Assets ............................................................................................134 Retail Bank Deposits .........................................................................................134


Retail Bank Revenues .......................................................................................134 Retail Bank Net Profits.......................................................................................134

Leading Credit Unions ..........................................................................................134 Retail Bank Branches ........................................................................................135 Retail Bank Employees......................................................................................135 Retail Bank Clients ............................................................................................135 Retail Bank Accounts.........................................................................................135 Retail Bank Assets ............................................................................................135 Retail Bank Loans .............................................................................................135 Retail Bank Deposits .........................................................................................135 Retail Bank Revenues .......................................................................................136 Retail Bank Profits .............................................................................................136

Market Segmentation............................................................................................136 Military-Based Credit Unions .............................................................................136 Employer-Based Credit Unions..........................................................................136 Other Credit Unions...........................................................................................136

KEY SERVICE PROVIDERS TO RETAIL BANKS ......................................................137 Custodians, Clearing Brokers, & Independent Broker/Dealers........................................ 137

Custodians............................................................................................................137 Clearing Brokers ...................................................................................................137 Independent Broker/Dealers .................................................................................137

Mutual Fund Companies & Other Traditional Product Companies.................................. 138 Mutual Fund Companies.......................................................................................138 Other Traditional Product Companies ...................................................................138

Fee-Accounts, TAMPs, & Separate Account Managers.................................................. 138 Fee-Accounts .......................................................................................................138 TAMPs..................................................................................................................138 Separate Account Managers.................................................................................138

Exchange Traded Funds, Hedge Funds, & Other Investment Product Companies ....... 139 Exchange Traded Fund Companies......................................................................139 Hedge Fund Companies .......................................................................................139 Other Investment Product Companies ..................................................................139

Wealth Management & Family Office Service Product Companies ................................ 139 Wealth Management Product Companies.............................................................139 Family Office Service Product Companies ............................................................139

Technology Companies & Other Key Vendors ................................................................ 139 Technology Companies ........................................................................................139 Other Key Vendors ...............................................................................................140

FUTURE PREDICTIONS FOR THE RETAIL BANKS INDUSTRY...............................141 Declining Number of Retail Banks, Industry Consolidation, & Increasing Concentration Amongst Leading Retail Banks......................................................................................... 141

Declining Number of Retail Banks.........................................................................141 Industry Consolidation ..........................................................................................141 Increasing Concentration Amongst Leading Retail Banks.....................................156

Increased Regulatory Scrutiny, Increased Capital Requirements, & Credit Crunch ....... 156 Increased Regulatory Scrutiny ..............................................................................156 Increased Capital Requirements...........................................................................157 Credit Crunch .......................................................................................................157

Streamlining Massive Infrastructure, Refining Branch Structures, & Alternative Forms of Distribution......................................................................................................................... 157


Streamlining Massive Infrastructure ......................................................................158 Refining Branch Structures ...................................................................................158 Alternative Forms of Distribution ...........................................................................158

The Evolution of the Core Deposits & Loans Businesses................................................ 160 Growing Importance of Generating Revenues Beyond Net-Interest Income.................. 160

Private Banking, Brokerage, Wealth Management & Trust, Investment Management, & Insurance ..........................................................................................................160

Private Banking .................................................................................................161 Brokerage..........................................................................................................161 Wealth Management & Trust .............................................................................168 Investment Management ...................................................................................168 Insurance...........................................................................................................181

Growing Importance of Marketing, Advertising, & Branding and Targeting New Customers & Segments....................................................................................................................... 184

Importance of Marketing, Advertising, & Branding ................................................184 Targeting New Customers & Segments ................................................................185

Growing Interest in Emerging Asian & Latin American Markets ...................................... 185 Growing Interest in Asian Markets ........................................................................185 Growing Interest in Latin American Markets..........................................................185

APPENDIX..................................................................................................................186 Profiles of Retail Banks..................................................................................................... 186

Adirondack Bank...................................................................................................186 History ...............................................................................................................186

Early Phase....................................................................................................186 Middle Phase..................................................................................................186 Recent Phase.................................................................................................186

Statistics ............................................................................................................186 Businesses ........................................................................................................186

Personal Banking ...........................................................................................187 Business Banking...........................................................................................187

Organization & Ownership.................................................................................187 Alliance National Bank ..........................................................................................187

History ...............................................................................................................187 Early Phase....................................................................................................187 Middle Phase..................................................................................................187 Recent Phase.................................................................................................187


Personal Banking ...........................................................................................187 Business Banking...........................................................................................188 Consumer & Commercial Lending ..................................................................188

Organization & Ownership.................................................................................188 Alliant Credit Union ...............................................................................................188



Personal Banking ...........................................................................................189


Organization & Ownership.................................................................................189 Ally Bank...............................................................................................................189



Personal Banking ...........................................................................................190 Organization & Ownership.................................................................................190

Amalgamated Bank ..............................................................................................190 History ...............................................................................................................190



Personal Services ..........................................................................................191 Union Services ...............................................................................................191 Business Services ..........................................................................................191 Trust Services ................................................................................................191 Health Care Financial Services ......................................................................191

Organization & Ownership.................................................................................192 Amcore Bank ........................................................................................................192



Personal Banking ...........................................................................................192 Business Banking...........................................................................................192 Mortgages ......................................................................................................193 Wealth Management ......................................................................................193

Organization & Ownership.................................................................................193 American First Federal Credit Union .....................................................................193




American Airlines Federal Credit Union ................................................................194 History ...............................................................................................................194




Personal Banking ...........................................................................................195 Lending ..........................................................................................................195 Investments & Insurance ................................................................................195

Organization & Ownership.................................................................................195 American Savings Bank........................................................................................195



Personal Banking ...........................................................................................196 Business Banking...........................................................................................196 Investments....................................................................................................196 Insurance .......................................................................................................196

Organization & Ownership.................................................................................196 Bancorp South......................................................................................................196



Personal Banking ...........................................................................................197 Business Banking...........................................................................................197 Financial Services ..........................................................................................197

Organization & Ownership.................................................................................197 Banco Santander ..................................................................................................197

History ...............................................................................................................198 Businesses ........................................................................................................198

Sovereign Bancorp.........................................................................................198 Organization & Ownership.................................................................................198

Bank Atlantic.........................................................................................................198 History ...............................................................................................................198



Personal Banking ...........................................................................................199 Business Banking...........................................................................................199 Commercial Banking ......................................................................................199

Organization & Ownership.................................................................................199 Bank of America Corporation ................................................................................200

History ...............................................................................................................200 Early Phase....................................................................................................200 Predecessor Mergers .....................................................................................201 New Bank of America .....................................................................................203


Consumer & Commercial Banking..................................................................217


Countrywide Financial ....................................................................................223 Global Corporate & Investment Banking.........................................................224 Wealth & Investment Management Group......................................................225 Merrill Lynch...................................................................................................238

Organization & Ownership.................................................................................275 Bank of Canton.....................................................................................................276



Personal Banking ...........................................................................................277 Business Banking...........................................................................................277 Mortgages ......................................................................................................277 Investments....................................................................................................277

Organization & Ownership.................................................................................278 Bank of Hawaii......................................................................................................278



Personal Banking ...........................................................................................278 Business Banking...........................................................................................279 Commercial Banking ......................................................................................279 Wealth Management ......................................................................................279

Organization & Ownership.................................................................................279 Bank of Marin Bancorp .........................................................................................279

History ...............................................................................................................279 Statistics ............................................................................................................280 Businesses ........................................................................................................281 Organization & Ownership.................................................................................282

Bank of Montreal...................................................................................................282 History ...............................................................................................................282 Businesses ........................................................................................................282

Harris Bank ....................................................................................................282 Organization & Ownership.................................................................................283

Bank of Napa........................................................................................................283 History ...............................................................................................................283



Personal Banking ...........................................................................................283 Business Banking...........................................................................................284 Online Banking ...............................................................................................284

Organization & Ownership.................................................................................284 Bank of Stockton...................................................................................................284





Bank of the Orient.................................................................................................285 History ...............................................................................................................285



Personal Banking ...........................................................................................285 Business Banking...........................................................................................285 Lending ..........................................................................................................286

Organization & Ownership.................................................................................286 Bank Five..............................................................................................................286



Personal .........................................................................................................287 Business.........................................................................................................287 Mortgage Center ............................................................................................287 Investments....................................................................................................287

Organization & Ownership.................................................................................287 Banque Safdié ......................................................................................................287


Private Banking ..............................................................................................287 Organization & Ownership.................................................................................288

BB&T Corporation.................................................................................................288 History ...............................................................................................................288



Private Banking ..............................................................................................292 Trust Department ...........................................................................................292 Private Banking Credit....................................................................................292 Brokerage.......................................................................................................292 Scott & Stringfellow ........................................................................................292 BB&T Asset Management ..............................................................................295 Insurance .......................................................................................................295

Organization & Ownership.................................................................................296


Bessemer Trust ....................................................................................................297 History ...............................................................................................................297



Private Client ..................................................................................................299 Asset Management ........................................................................................300 Alternative Investments ..................................................................................300 Insurance .......................................................................................................300 Estate Planning ..............................................................................................300 Tax.................................................................................................................300

Organization & Ownership.................................................................................300 BNP Paribas .........................................................................................................300


Retail Banking ................................................................................................301 Organization & Ownership.................................................................................302

Boeing Employees Credit Union ...........................................................................302 History ...............................................................................................................302



Personal Banking ...........................................................................................303 Business Banking...........................................................................................303 Lending ..........................................................................................................303 Wealth Management ......................................................................................303

Organization & Ownership.................................................................................303 BOK Financial Corporation ...................................................................................303



Bank of Albuquerque......................................................................................304 Bank of Arizona ..............................................................................................304 Bank of Arkansas ...........................................................................................304 Bank of Kansas City .......................................................................................304 Bank of Oklahoma..........................................................................................304 Bank of Texas ................................................................................................306 Colorado State Bank & Trust ..........................................................................306

Organization & Ownership.................................................................................306 Boston Private Financial Holdings.........................................................................306

History ...............................................................................................................306 Early Phase....................................................................................................307 Moderate Growth Phase.................................................................................308 Rapid Acceleration Phase ..............................................................................315


Streamlining & Recapitilization Phase ............................................................316 Statistics ............................................................................................................319 Businesses ........................................................................................................319

Private Banking ..............................................................................................319 Boston Private Bank & Trust Company .......................................................319 Borel Private Bank & Trust Company ..........................................................321 Charter Private Bank...................................................................................322 First Private Bank & Trust Company ...........................................................322

Asset Management & Wealth Advisory...........................................................323 Dalton, Greiner, Hartman, Maher, & Company............................................323 KLS Professional Advisors Group ...............................................................324 Bingham, Osborn, & Scarborough...............................................................324 Coldstream Capital Management ................................................................332 Davidson Trust Company............................................................................332 Anchor Capital Advisors ..............................................................................332 Anchor/Russell ............................................................................................332

Organization & Ownership.................................................................................332 Boston Trust & Investment Company....................................................................333



Investment Management ................................................................................335 Client Services ...............................................................................................336 Walden Asset Management............................................................................336

Organization & Ownership.................................................................................336 Bremer Financial...................................................................................................336



Banking ..........................................................................................................337 Investments....................................................................................................337 Trusts .............................................................................................................337 Insurance .......................................................................................................337

Organization & Ownership.................................................................................337 Bryn Mawr Trust ...................................................................................................338



Retail Banking ................................................................................................338 Business Banking...........................................................................................338 Trust & Fiduciary Services..............................................................................339 Wealth Management ......................................................................................339


Insurance .......................................................................................................340 Organization & Ownership.................................................................................340

Cambridge Appleton Trust ....................................................................................340 History ...............................................................................................................341



Investment Management ................................................................................341 Fiduciary Services ..........................................................................................341 Endowments & Foundations...........................................................................341

Organization & Ownership.................................................................................341 Cambridge Trust Company...................................................................................342



Personal Banking ...........................................................................................342 Business Banking...........................................................................................342 Wealth Management ......................................................................................342

Organization & Ownership.................................................................................343 Camden National Corporation...............................................................................343



Personal Banking ...........................................................................................343 Business Banking...........................................................................................343 Wealth Management ......................................................................................344

Organization & Ownership.................................................................................344 Cape Cod Five Cents Savings Bank .....................................................................344



Personal Banking ...........................................................................................345 Mortgage Lending ..........................................................................................345 Business Banking...........................................................................................345 Government Banking......................................................................................345 Wealth Management ......................................................................................345

Organization & Ownership.................................................................................345 Capital Bank & Trust Company.............................................................................345

History ...............................................................................................................345 Early Phase....................................................................................................346


Middle Phase..................................................................................................346 Recent Phase.................................................................................................346



Organization & Ownership.................................................................................346 Capital One Financial............................................................................................346


Hibernia.......................................................................................................347 Northfork Bancorp .......................................................................................348

Organization & Ownership.................................................................................348 Cavalry Bancorp ...................................................................................................348




Organization & Ownership.................................................................................349 Central Cooperative Bank.....................................................................................349




Chevy Chase Bank ...............................................................................................350 History ...............................................................................................................350



Personal Banking ...........................................................................................351 Private Banking ..............................................................................................351 Business Banking...........................................................................................351 Commercial Banking ......................................................................................351

Organization & Ownership.................................................................................351 Circle Bank ...........................................................................................................351

History ...............................................................................................................351 Novato Community Bank Phase.....................................................................352 Circle Bank Phase..........................................................................................352 Recent Phase.................................................................................................352



Personal Banking ...........................................................................................352 Business Banking...........................................................................................352 Lending ..........................................................................................................352 Online Banking ...............................................................................................352

Organization & Ownership.................................................................................352 CIT Group.............................................................................................................353



Corporate Finance..........................................................................................353 Trade Finance ................................................................................................353 Transportation Finance...................................................................................353 Vendor Finance..............................................................................................354 CIT Bank ........................................................................................................354

Organization & Ownership.................................................................................354 Citigroup ...............................................................................................................354

History ...............................................................................................................354 Pre-Citigroup Phase .......................................................................................354 Citigroup Phase..............................................................................................355 Streamlining Phase ........................................................................................356


Global Consumer Group.................................................................................364 Corporate & Investment Banking....................................................................367 Global Wealth Management ...........................................................................367 Bisys ..............................................................................................................372

Organization & Ownership.................................................................................373 City National Corporation......................................................................................374

History ...............................................................................................................375 Early Bank Acquisitions Phase .......................................................................375 Awards Phase ................................................................................................381 Wealth Management Phase ...........................................................................386


Core Banking..................................................................................................389 Commercial Banking ......................................................................................390 Private Client Services ...................................................................................391

Organization & Ownership.................................................................................419 Citizens Equity First Credit Union..........................................................................423




Co Biz...................................................................................................................424




Banking ..........................................................................................................424 Insurance .......................................................................................................424 Investment Banking........................................................................................424 Investment Advisory & Trust...........................................................................425

Organization & Ownership.................................................................................425 Colonial Bank .......................................................................................................425



Personal Banking ...........................................................................................426 Lending ..........................................................................................................426 Wealth Management ......................................................................................426

Organization & Ownership.................................................................................426 Columbia Bank .....................................................................................................426



Personal Banking ...........................................................................................426 Business Banking...........................................................................................427 Financial Services ..........................................................................................427

Organization & Ownership.................................................................................427 Comerica Corporation...........................................................................................427



Personal Banking ...........................................................................................428 Business Banking...........................................................................................428 Corporate Banking .........................................................................................428 Wealth Management ......................................................................................428

Organization & Ownership.................................................................................428 Commerce Bank ...................................................................................................428


Statistics ............................................................................................................429


Businesses ........................................................................................................429 Personal Banking ...........................................................................................429 Business Banking...........................................................................................429 Asset Management ........................................................................................429

Organization & Ownership.................................................................................429 Commonwealth Bank & Trust ...............................................................................430



Personal Banking ...........................................................................................430 Business Banking...........................................................................................430 Mortgages ......................................................................................................430 Wealth Management ......................................................................................430

Organization & Ownership.................................................................................431 Commonwealth Co-Operative Bank......................................................................431

History ...............................................................................................................431 Early Phase....................................................................................................431 Middle Phase..................................................................................................431 Acquisition Phase...........................................................................................431


Personal Banking ...........................................................................................432 Business Banking...........................................................................................432 Loan Products ................................................................................................432

Organization & Ownership.................................................................................432 Community Bank of the Bay..................................................................................432



Business.........................................................................................................433 Personal .........................................................................................................433 Community .....................................................................................................433

Organization & Ownership.................................................................................433 Compass Bancshares...........................................................................................433

History ...............................................................................................................434 Early Phase....................................................................................................434 Bank Consolidation ........................................................................................434 Services Expansion ........................................................................................434


Corporate Banking .........................................................................................435 Retail Banking ................................................................................................435 Wealth Management ......................................................................................435 Treasury.........................................................................................................436



Corus Bank...........................................................................................................437 History ...............................................................................................................437



Commercial Lending.......................................................................................437 Personal Banking ...........................................................................................437

Organization & Ownership.................................................................................438 Country Financial..................................................................................................438



Country Mutual Insurance Company ..............................................................438 Country Trust Bank ........................................................................................438 Country Life Insurance Company ...................................................................439 Country Capital Management Company.........................................................439

Organization & Ownership.................................................................................439 Cullen & Frost Bank..............................................................................................439



Personal Banking ...........................................................................................440 Business Banking...........................................................................................440 Frost Insurance Agency..................................................................................440

Organization & Ownership.................................................................................440 Danversbank ........................................................................................................440



Personal .........................................................................................................441 Commerical ....................................................................................................441 Investments....................................................................................................441

Organization & Ownership.................................................................................441 Eastern Bank ........................................................................................................441




Personal .........................................................................................................442 Business.........................................................................................................442

Organization & Ownership.................................................................................442 East West Bank ....................................................................................................442



Personal Banking ...........................................................................................443 Business Banking...........................................................................................443 Commercial Banking ......................................................................................443 International Banking......................................................................................443

Organization & Ownership.................................................................................443 Encore Bank .........................................................................................................444



Personal Banking ...........................................................................................444 Business Banking...........................................................................................444 Wealth Management ......................................................................................444 Encore Trust...................................................................................................444 Encore Mortgage Company............................................................................444

Organization & Ownership.................................................................................444 Essex Savings Bank .............................................................................................445

History ...............................................................................................................445 Early Phase....................................................................................................445 Middle Phase..................................................................................................445 Acquisitions Phase .........................................................................................445


Retail Banking ................................................................................................446 Business Banking...........................................................................................446 Essex Financial Services................................................................................446 Trust Services ................................................................................................446 John Rafal & Associates.................................................................................446

Organization & Ownership.................................................................................447 Everett Co-Operative Bank ...................................................................................447



Personal Checking .........................................................................................448 Savings & Investments ...................................................................................448 Home Loans...................................................................................................448


Business Checking.........................................................................................448 Organization & Ownership.................................................................................448

Exchange Bank (Natchitoches, LA).......................................................................448 History ...............................................................................................................448



Personal Banking ...........................................................................................449 Business Banking...........................................................................................449 Investments....................................................................................................449

Organization & Ownership.................................................................................449 Exchange Bank (Santa Rosa, CA) ........................................................................449



Personal Banking ...........................................................................................450 Business Banking...........................................................................................450 Investments....................................................................................................450

Organization & Ownership.................................................................................450 Field Point Private Bank & Trust ...........................................................................451



Personal Banking ...........................................................................................452 Business Banking...........................................................................................452 Wealth Management ......................................................................................452 Trust Solutions ...............................................................................................452 Institutional Advisory.......................................................................................452 Family Office Services....................................................................................452

Organization & Ownership.................................................................................453 Fifth Third Bancorp ...............................................................................................453



Personal Banking ...........................................................................................456 Business Banking...........................................................................................456 Corporate Banking .........................................................................................456 Asset Management ........................................................................................456 Howard Hammond .........................................................................................456



First Bancorp ........................................................................................................457 History ...............................................................................................................457



Personal Banking ...........................................................................................457 Business Banking...........................................................................................457 Investments....................................................................................................457 First Bank Insurance Services ........................................................................457

Organization & Ownership.................................................................................458 First Bank Corporation (Alma, MI).........................................................................458



First Bank .......................................................................................................458 Keystone Financial Corporation......................................................................458 Brown, Hiller, Clark, & Associates ..................................................................458

Organization & Ownership.................................................................................459 First Bank (Clayton, MO) ......................................................................................459




First Bank & Trust .................................................................................................460 History ...............................................................................................................460



Personal Banking ...........................................................................................460 Business Banking...........................................................................................460 Agriculture Loans ...........................................................................................460 First Bank & Trust Wealth Management Group ..............................................460 Mortgages ......................................................................................................460

Organization & Ownership.................................................................................461 First Citizens Bank................................................................................................461


Statistics ............................................................................................................461


Businesses ........................................................................................................462 Personal Services ..........................................................................................462 Business Services ..........................................................................................462 Wealth Management ......................................................................................462

Organization & Ownership.................................................................................462 First Federal Savings Bank...................................................................................462


Statistics ............................................................................................................463 Businesses ........................................................................................................463 Organization & Ownership.................................................................................463

First Horizon National Corporation ........................................................................463 History ...............................................................................................................463

First National Bank of Memphis Phase...........................................................464 First National Holding Company Phase ..........................................................464 Streamlining Phase ........................................................................................465


First Tennessee Bank.....................................................................................465 FTN Financial .................................................................................................466

Organization & Ownership.................................................................................467 First Leesport Bancorp..........................................................................................468



Johnson Financial Group................................................................................469 Organization & Ownership.................................................................................473

First Marblehead...................................................................................................474 History ...............................................................................................................474




First Mercantile Trust ............................................................................................475 History ...............................................................................................................475




First Merit Bank.....................................................................................................476





First National Bank ...............................................................................................477 History ...............................................................................................................477




First National of Nebraska ....................................................................................478 History ...............................................................................................................478



First National Bank Omaha.............................................................................479 Organization & Ownership.................................................................................483

First Niagara .........................................................................................................484 History ...............................................................................................................484




First Republic Bank...............................................................................................485 History ...............................................................................................................485

Early Phase....................................................................................................486 Acquisition Phase...........................................................................................486 Bank of America Phase ..................................................................................486 Independence Phase......................................................................................486


Retail Banking ................................................................................................487 Wealth Management ......................................................................................487

Trainer, Wortham, & Company....................................................................487 Starbuck, Tisdale, & Associates ..................................................................487 Froley Revy Investment Company...............................................................487 Cypress Wealth Advisors ............................................................................488

Organization & Ownership.................................................................................488 First Source Bank .................................................................................................488


History ...............................................................................................................488 Early Phase....................................................................................................488 Middle Phase..................................................................................................488 Mutual Funds Introduction Phase ...................................................................488


Personal Banking ...........................................................................................489 Business Banking...........................................................................................489 Specialty Finance ...........................................................................................489 First Source Corporation ................................................................................489

Organization & Ownership.................................................................................491 Flagstar Bank .......................................................................................................491



Banking ..........................................................................................................492 Mortgages ......................................................................................................492

Organization & Ownership.................................................................................492 FNB Corporation...................................................................................................493




Founders Bank .....................................................................................................493 History ...............................................................................................................494




Foxboro Federal Savings......................................................................................494 History ...............................................................................................................494




Fulton Financial ....................................................................................................495 History ...............................................................................................................495

Early Phase....................................................................................................496





Gateway Bank ......................................................................................................496 History ...............................................................................................................496



Personal Banking ...........................................................................................497 Business Banking...........................................................................................497 Home Loans...................................................................................................497 Mortgage Banking ..........................................................................................497 Merchant Banking ..........................................................................................497

Organization & Ownership.................................................................................497 Glenmede Trust Company....................................................................................497



Investment Management ................................................................................498 Business Planning..........................................................................................498 Estate Planning ..............................................................................................499 Tax Planning ..................................................................................................499 Retirement Planning.......................................................................................499

Organization & Ownership.................................................................................499 Goldman Sachs Group .........................................................................................499

History ...............................................................................................................499 Private Partnership Phase..............................................................................499 IPO & Acquisition Phase ................................................................................500 Market Dominance Phase ..............................................................................500


Investment Banking........................................................................................501 Trading & Principal Investments .....................................................................502 Asset Management & Securities Service ........................................................502

Organization & Ownership.................................................................................514 Gold Bank.............................................................................................................514



Gold Trust Company ......................................................................................515


Organization & Ownership.................................................................................515 Granite Savings Bank ...........................................................................................515




Greenfield Co-Operative Bank ..............................................................................516 History ...............................................................................................................517



Personal Banking ...........................................................................................517 Lending ..........................................................................................................517 Business Banking...........................................................................................517

Organization & Ownership.................................................................................517 Hancock Bank.......................................................................................................518



Commercial Banking ......................................................................................519 Retail Banking ................................................................................................519 Hancock Investment Services ........................................................................519 Hancock Advisors...........................................................................................519

Organization & Ownership.................................................................................521 HSBC Holdings.....................................................................................................522


Personal Banking ...........................................................................................522 Business & Corporate Banking.......................................................................522 Global Banking & Markets ..............................................................................522

Organization & Ownership.................................................................................522 Huntington Bancshares.........................................................................................523



Personal Banking ...........................................................................................524 Business Banking...........................................................................................524 Huntington Funds ...........................................................................................524 Sky Financial ..................................................................................................524


Organization & Ownership.................................................................................524 Independent Bank Corporation .............................................................................525



Rockland Trust ...............................................................................................526 Organization & Ownership.................................................................................526

Intrust Bank ..........................................................................................................526 History ...............................................................................................................526



Personal Banking ...........................................................................................527 Business Banking...........................................................................................527 American Independence Funds......................................................................527

Organization & Ownership.................................................................................527 JP Morgan Chase .................................................................................................527

History ...............................................................................................................528 Establishment Phase......................................................................................528 Key Mergers Phase........................................................................................531 JP Morgan Chase Phase................................................................................535


Retail Banking ................................................................................................540 Commercial Banking ......................................................................................544 Investment Banking........................................................................................544 Card Services.................................................................................................547 Treasury & Securities Services.......................................................................548 Asset Management & Private Banking ...........................................................548

Organization & Ownership.................................................................................563 Key Corporation....................................................................................................565

History ...............................................................................................................565 Business as Usual Phase...............................................................................565 First Deals Phase ...........................................................................................565 Aggressive Growth & Restructuring Phase.....................................................565


Retail Banking ................................................................................................567 Business Banking...........................................................................................568 McDonald Financial Group .............................................................................569 Victory Capital Management...........................................................................579

Organization & Ownership.................................................................................581 Kinecta Federal Credit Union ................................................................................582

History ...............................................................................................................582 Early Phase....................................................................................................582 Middle Phase..................................................................................................582


Recent Phase.................................................................................................582 Statistics ............................................................................................................582 Businesses ........................................................................................................582


Kitsap Bank & Mortgage .......................................................................................583 History ...............................................................................................................583




Legacy Bank.........................................................................................................583 History ...............................................................................................................584



Legacy Portfolio Management ........................................................................584 Organization & Ownership.................................................................................584

Lowell Five Cents Savings Bank...........................................................................585 History ...............................................................................................................585




Organization & Ownership.................................................................................586 Lydian Trust Company..........................................................................................586

History ...............................................................................................................586 First Virtual Phase ..........................................................................................586 Lydian Trust Company Phase ........................................................................587 Post Lydian Wealth Management Phase........................................................588


Lydian Bank & Trust and Virtual Bank ............................................................589 Data Services.................................................................................................591

Organization & Ownership.................................................................................591 Marlborough Savings Bank...................................................................................593





Business Banking...........................................................................................594 Mortgages ......................................................................................................594 Investments....................................................................................................594

Organization & Ownership.................................................................................594 Marshall & Ilsley....................................................................................................594

History ...............................................................................................................595 Early Phase....................................................................................................595 Middle Phase..................................................................................................595 Metavante Divestment Phase.........................................................................595


Marshall & Ilsley Bank ....................................................................................595 Organization & Ownership.................................................................................596

Mechanics Bank ...................................................................................................596 History ...............................................................................................................596




Mercantile Bankshares Corporation ......................................................................597 History ...............................................................................................................597



Mercantile Capital Advisors ............................................................................598 Mercantile Mutual Funds ................................................................................598 Mercantile Brokerage Services.......................................................................598

Organization & Ownership.................................................................................598 Mitsubishi UFJ Financial Group ............................................................................599


Union Bank of California.................................................................................599 Morgan Stanley ..............................................................................................600

Morgan Stanley Institutional Securities........................................................601 Investment Banking .................................................................................602

Banking Group Service .........................................................................602 Corporate Advisory Service ..................................................................602 Securities Underwriting Service ............................................................602 Principal Activiies Service .....................................................................602 Real Estate Service ..............................................................................602

Sales & Trading .......................................................................................603 Equity Business ....................................................................................603 Fixed Income Business.........................................................................603 Foreign Exchange Business .................................................................603 Prime Brokerage Business ...................................................................603 Commodities Business .........................................................................603


Hedge Funds-of-Funds Business..........................................................603 Research .................................................................................................603 MSCI Barra ..............................................................................................603

Individual Investor Group ............................................................................604 Morgan Stanley Investment Management ...................................................599

Organization & Ownership.................................................................................607 Mountain One Financial Partners..........................................................................607



Hoosac Bank..................................................................................................608 Coakley, Pierpan, Dolan, & Collins .................................................................608 South Coastal Bank........................................................................................608 True North ......................................................................................................608 Williamstown Savings Bank............................................................................608

Organization & Ownership.................................................................................608 M&T Bank.............................................................................................................609



Personal Banking ...........................................................................................609 Business Banking...........................................................................................609 Commercial Banking ......................................................................................610 MTB Investment Advisors...............................................................................610

Organization & Ownership.................................................................................610 Navy Federal Credit Union....................................................................................610




NBT Bancorp ........................................................................................................611 History ...............................................................................................................612

Small Bank Phase ..........................................................................................612 Mid-Size Phase ..............................................................................................612 Holding Company Phase................................................................................612


NBT Bank.......................................................................................................612 Pennstar Bank................................................................................................613 Tamalpais Advisors ........................................................................................613 Hathaway Insurance Agency ..........................................................................613


Organization & Ownership.................................................................................613 Norcal Community Bancorp ..................................................................................614



Bank of Alameda ............................................................................................615 Online Banking............................................................................................615 Personal Banking ........................................................................................615 Business Banking........................................................................................615

Organization & Ownership.................................................................................615 Northeast Bancorp................................................................................................616




Northern Trust.......................................................................................................616 History ...............................................................................................................617



Carl Domino ...................................................................................................621 Northern Trust Global Advisors ......................................................................621

Organization & Ownership.................................................................................621 Ocean Point Financial Partners ............................................................................621



Bank Newport.................................................................................................622 Personal Banking ........................................................................................622 Business Banking........................................................................................622 Mortgages & Loans .....................................................................................622 Insurance ....................................................................................................622

Organization & Ownership.................................................................................622 Old National Bancorp............................................................................................623


Statistics ............................................................................................................623


Businesses ........................................................................................................623 Personal Banking ...........................................................................................623

Organization & Ownership.................................................................................623 Orange County Teachers Credit Union .................................................................623




Oriental Bank........................................................................................................624 History ...............................................................................................................625




Patelco Credit Union.............................................................................................625 History ...............................................................................................................625




Pentagon Federal Credit Union.............................................................................626 History ...............................................................................................................627




Peoples Bancorp ..................................................................................................627 History ...............................................................................................................627




PHH Corporation ..................................................................................................628 History ...............................................................................................................628

Early Phase....................................................................................................629




PHH Mortgage................................................................................................629 Organization & Ownership.................................................................................629

Pinnacle Trust Wealth Management .....................................................................630 History ...............................................................................................................630



Asset Management ........................................................................................630 Financial Planning ..........................................................................................630 Trust Services ................................................................................................630

Organization & Ownership.................................................................................631 Pitcairn Trust ........................................................................................................631



Investment, Financial, & Tax Strategy Advice.................................................632 Asset Management ........................................................................................632 Education of Family Members ........................................................................632 Fiduciary & Trust Services..............................................................................632 Administering Personal Finances ...................................................................632

Organization & Ownership.................................................................................632 PNC Financial Services Group .............................................................................632

History ...............................................................................................................632 Early Phase....................................................................................................633 Acquisition Phase...........................................................................................633 Return to Retail Banking Phase......................................................................633


Regional Community Banking ........................................................................636 Wholesale Banking.........................................................................................637 PNC Advisors .................................................................................................637 PNC Investments ...........................................................................................638

Organization & Ownership.................................................................................639 Presidio Bank .......................................................................................................639





Private Bancorp ....................................................................................................640 History ...............................................................................................................640



Private Bank...................................................................................................641 Organization & Ownership.................................................................................641

Promistar Bank .....................................................................................................641 History ...............................................................................................................641




Prosperity Bancshares..........................................................................................642 History ...............................................................................................................642




Provident Financial Group ....................................................................................643 History ...............................................................................................................644



Home Credit ...................................................................................................644 Credit Cards ...................................................................................................644

Organization & Ownership.................................................................................644 Raymond James...................................................................................................644


Raymond James Bank ...................................................................................645 Organization & Ownership.................................................................................646

Redwood Credit Union..........................................................................................646 History ...............................................................................................................646





Regions Financial Corporation..............................................................................647 History ...............................................................................................................647

Early Phase....................................................................................................647 Middle Phase..................................................................................................648 Morgan Keegan Phase...................................................................................648


Union Planters Bank.......................................................................................649 AmSouth Bank ...............................................................................................649 Morgan Keegan..............................................................................................650

Organization & Ownership.................................................................................650 Rockland Trust Company .....................................................................................651



Personal .........................................................................................................651 Small Business...............................................................................................652 Commercial ....................................................................................................652 Investing.........................................................................................................652

Organization & Ownership.................................................................................652 Royal Bank of Canada..........................................................................................652


US Banking ....................................................................................................653 Organization & Ownership.................................................................................653

Royal Bank of Scotland.........................................................................................653 History ...............................................................................................................653 Businesses ........................................................................................................654

Citizens Financial ...........................................................................................654 Organization & Ownership.................................................................................654

San Diego County Credit Union ............................................................................655 History ...............................................................................................................655




Sandy Spring Bank ...............................................................................................655 History ...............................................................................................................656





Schools First Federal Credit Union .......................................................................656 History ...............................................................................................................656




Security Service Federal Credit Union ..................................................................657 History ...............................................................................................................657




Signature Bank .....................................................................................................658 History ...............................................................................................................658



Banking ..........................................................................................................659 Organization & Ownership.................................................................................659

Silicon Valley Bank ...............................................................................................659 History ...............................................................................................................659



Commercial Banking ......................................................................................661 Silicon Valley Bank Global..............................................................................662 Silicon Valley Bank Private Client Services ....................................................663 Silicon Valley Bank Alliant ..............................................................................663 Silicon Valley Bank Securities ........................................................................663 Silicon Valley Bank Asset Management..........................................................663

Organization & Ownership.................................................................................663 Siuslaw Valley Bank..............................................................................................663




South Financial Group ..........................................................................................664




Carolina First Bank.........................................................................................665 Mercantile Bank..............................................................................................665

Organization & Ownership.................................................................................665 South Shore Savings Bank ...................................................................................665



Personal Banking ...........................................................................................666 Small Business Banking .................................................................................666 Commercial Banking ......................................................................................666 Investments....................................................................................................666

Organization & Ownership.................................................................................666 Star One Credit Union...........................................................................................666




State Bank Texas United Bancshares...................................................................667 History ...............................................................................................................667




State Employee Credit Union................................................................................668 History ...............................................................................................................668




State Street Corporation .......................................................................................669 History ...............................................................................................................670

Union Bank Phase..........................................................................................670


Emergence Phase..........................................................................................670 Expansion Phase ...........................................................................................671 Restructuring Phase.......................................................................................672


Investment Management (State Street Global Advisors) ................................676 Investment Research & Trading .....................................................................681 Investment Servicing ......................................................................................682

Organization & Ownership.................................................................................684 S&T Bank .............................................................................................................686




Sun Bancorp.........................................................................................................687 History ...............................................................................................................687




Suncoast Schools Federal Credit Union................................................................687 History ...............................................................................................................688




Sun Trust Bank.....................................................................................................688 History ...............................................................................................................689



Private Client ..................................................................................................690 Sun Trust Mortgage........................................................................................690 Credit .............................................................................................................691 Sun Trust Securities .......................................................................................691 Alexander Key Investments............................................................................691 Asset Management ........................................................................................691 Insurance .......................................................................................................691



Susquehanna Bancshares....................................................................................693 History ...............................................................................................................693



Personal Banking ...........................................................................................694 Brandywine ....................................................................................................694 Retirement Plan Services ...............................................................................694 Valley Forge Asset Management....................................................................694

Organization & Ownership.................................................................................695 Synovus................................................................................................................695



Retail Banking ................................................................................................696 Commercial Banking ......................................................................................696 Corporate Banking .........................................................................................696 Private Banking ..............................................................................................696

Organization & Ownership.................................................................................697 TD Bank Financial Group......................................................................................697


Retail Banking ................................................................................................698 Organization & Ownership.................................................................................699

Texas Capital Bank...............................................................................................699 History ...............................................................................................................699



Personal Finance ...........................................................................................700 Business Services ..........................................................................................700 Private Client Services ...................................................................................700 Texas Capital Value Funds.............................................................................700

Organization & Ownership.................................................................................700 The Bank of New York Mellon Corporation ...........................................................701

History ...............................................................................................................701 New York Banking Phase...............................................................................701 National Banking & Investment Management Phase ......................................702 Investment Management & Investment Processing Phase .............................704


Commercial Banking ......................................................................................714 Bank of New York Asset Management ...........................................................714 Processing .....................................................................................................739


PFPC Global Investment Servicing .............................................................740 Pershing .........................................................................................................762

Organization & Ownership.................................................................................787 The Community Bank ...........................................................................................788



Personal .........................................................................................................789 Business.........................................................................................................789 Lending ..........................................................................................................789 Investment......................................................................................................789 Insurance .......................................................................................................789

Organization & Ownership.................................................................................789 The Golden One Credit Union...............................................................................789




The New York Community Bank Family of Banks .................................................790 History ...............................................................................................................790



New York Community Bank............................................................................791 Queens County Savings Bank........................................................................791 Roslyn Savings Bank......................................................................................791 Richmond County Savings Bank ....................................................................792 Roosevelt Savings Bank.................................................................................792 Garden State Community Bank ......................................................................792 Ohio Savings Bank.........................................................................................792 AmTrust Bank.................................................................................................792

Personal Banking ........................................................................................792 Business Banking........................................................................................792 Lending .......................................................................................................792

Organization & Ownership.................................................................................793 The Pennsylvania Trust Company ........................................................................793




Investment Services .......................................................................................794 Fiduciary Services ..........................................................................................794

Organization & Ownership.................................................................................794 The Union Bank & Trust Company........................................................................794



Personal Banking ...........................................................................................795 Stratus Funds.................................................................................................795

Organization & Ownership.................................................................................795 The Village Bank...................................................................................................795



Personal .........................................................................................................796 Business.........................................................................................................796 Investments....................................................................................................796

Organization & Ownership.................................................................................796 Trustmark Corporation ..........................................................................................796



Trustmark National Bank ................................................................................797 Trustmark Securities.......................................................................................797 Trustmark Investment Advisors ......................................................................797 Bottrell Insurance Agency...............................................................................801 Fisher-Brown..................................................................................................801 TRMK Management .......................................................................................801 Somerville Bank & Trust .................................................................................801

Organization & Ownership.................................................................................801 UMB Bank ............................................................................................................802



Personal Banking ...........................................................................................803 UMB Scout Funds ..........................................................................................803

Organization & Ownership.................................................................................803 Umpqua Bank.......................................................................................................803

History ...............................................................................................................803





Union Bank & Trust Company...............................................................................804 History ...............................................................................................................804



Personal Banking ...........................................................................................805 Business Banking...........................................................................................805 Investments....................................................................................................805 Trusts .............................................................................................................806

Organization & Ownership.................................................................................806 Unizan Financial Corporation................................................................................806




US Bancorp ..........................................................................................................807 History ...............................................................................................................807

Early Phase....................................................................................................808 Firstar Merger Phase......................................................................................808 Recent Phase.................................................................................................809


Retail Banking ................................................................................................810 US Bank Home Mortgages.............................................................................810 US Bancorp Investments................................................................................810 US Bancorp Asset Management ....................................................................811 Quasar Distributors ........................................................................................811

Organization & Ownership.................................................................................811 Valley National Bank.............................................................................................811




Wainwright Bank & Trust ......................................................................................813





Washington Trust Bancorp ...................................................................................814 History ...............................................................................................................815



Washington Trust Company ...........................................................................816 Weston Financial............................................................................................816 New Century Portfolios...................................................................................816 Tax & Risk Management ................................................................................818

Organization & Ownership.................................................................................818 Webster Bank .......................................................................................................819




Wells Fargo Corporation .......................................................................................820 History ...............................................................................................................820

Stagecoach Phase .........................................................................................820 West Coast Banking Phase............................................................................820 National Banking Phase .................................................................................821


Community Banking Group.............................................................................833 Wachovia Corporation ....................................................................................842 HD Vest..........................................................................................................949 Wholesale Banking Group..............................................................................981 Wells Fargo Financial .....................................................................................983 Other Businesses ...........................................................................................983

Organization & Ownership.................................................................................985 Westamerica Bank................................................................................................986





Community Banker Services Corporation (CBSC)..........................................987 Organization & Ownership.................................................................................987

West Bancorporation ............................................................................................987 History ...............................................................................................................987



Personal Banking ...........................................................................................987 WB Capital Management................................................................................988

Organization & Ownership.................................................................................991 Western Alliance Bancorporation..........................................................................991



Bank of Nevada..............................................................................................992 Alliance Bank of Arizona.................................................................................992 Torrey Pines Bank..........................................................................................992 Alta Alliance Bank ..........................................................................................992 Western Alliance Equipment Finance .............................................................992 Shine Investment Advisory Services...............................................................992

Organization & Ownership.................................................................................993 Whittier Trust Company ........................................................................................993



Investment Management ................................................................................994 Wealth Management ......................................................................................994 Family Office Services....................................................................................994

Organization & Ownership.................................................................................994 Wilmington Trust...................................................................................................994

History ...............................................................................................................995 Early Phase....................................................................................................995 Acquisition Phase...........................................................................................995 Recent Phase.................................................................................................995


Wilmington Funds...........................................................................................996 Cramer, Rosenthal, McGlynn .........................................................................996 AST Capital Trust ...........................................................................................996

Organization & Ownership.................................................................................996 Wintrust Financial Corporation..............................................................................996

History ...............................................................................................................997 Early Phase....................................................................................................997


Recent Phase.................................................................................................997 Statistics ............................................................................................................997 Businesses ........................................................................................................997

Banking ..........................................................................................................998 Wayne Hummer Investments .........................................................................999 Wayne Hummer Asset Management ............................................................1000 Wayne Hummer Trust Company ..................................................................1000

Organization & Ownership...............................................................................1002 Zions Bank..........................................................................................................1003

History .............................................................................................................1003 Early Phase..................................................................................................1003 Middle Phase................................................................................................1003 Recent Phase...............................................................................................1003

Statistics ..........................................................................................................1003 Businesses ......................................................................................................1003

Personal Banking .........................................................................................1003 Organization & Ownership...............................................................................1003

Profiles of Leading Bank Brokers ................................................................................... 1003 Bank of America Corporation Bank Brokers........................................................1003

Diane Kirchner’s Team ....................................................................................1004 Dan Osborne’s Team.......................................................................................1005 Howard Weiss’ Team.......................................................................................1006 Richard Whiting’s Team...................................................................................1007

JP Morgan Chase Bank Brokers.........................................................................1008 Kirke Meeks' Team..........................................................................................1009

Sun Trust Bank Brokers......................................................................................1010 Perry Chesney’s Team ....................................................................................1010

US Bancorp Bank Brokers ..................................................................................1011 The Cavner Team............................................................................................1011

Wells Fargo Corporation Bank Brokers...............................................................1012 Charles Lewis’ Team .......................................................................................1013 James McCabe’s Team...................................................................................1014 Ken Van Wagenen’s Team..............................................................................1015 Pauline Yore’s Team .......................................................................................1016

Profiles of Leading Private Bankers................................................................................ 1017 Citigroup Private Bankers ...................................................................................1017

Beverly Buker’s Team......................................................................................1017 Aya Stark Hamilton’s Team .............................................................................1018 Joanne Jensen’s Team....................................................................................1019 Jeff Saccacio’s Team.......................................................................................1020

JP Morgan Chase Private Bankers .....................................................................1021 Melissa Marek Babb’s Team............................................................................1021 Fabrice Braunrot’s Team .................................................................................1022 Don Irwin’s Team.............................................................................................1024 Catherine Keating Advisory Company .............................................................1025 Robert Keller’s Team.......................................................................................1026 Roy Nichol’s Team ..........................................................................................1027 Diane Padalino’s Team....................................................................................1028 Michael Peska’s Team.....................................................................................1029 Philip Schlakman’s Team ................................................................................1030 Steven Schroko’s Team...................................................................................1031


Harvey Struthers’ Team...................................................................................1032 Bank of America Corporation Private Bankers ....................................................1033

Ann Darke’s Team...........................................................................................1033 Gregory Kern’s Team ......................................................................................1034

Bessemer Trust Private Bankers.........................................................................1035 David Holmes’ Team .......................................................................................1036

Wells Fargo Corporation Private Bankers ...........................................................1037 Mark Cavalier’s Team......................................................................................1037 Eppy Giles’ Team ............................................................................................1038 Bruce McDermott’s Team ................................................................................1039

Wilmington Trust Private Bankers.......................................................................1040 Thomas Hakala’s Team...................................................................................1040 Benjamin Ledyard’s Team ...............................................................................1041 Ralph Wileczek’s Team ...................................................................................1042

Bank of Montreal (Harris Bank) Private Bankers .................................................1043 Harold Gianopulos’ Team ................................................................................1043

The Bank of New York Mellon Corporation Private Bankers ...............................1044 James McTiernan’s Team................................................................................1044

Profiles of Retail Bank Service Providers ....................................................................... 1045 Alabama Bankers Association ............................................................................1045

History .............................................................................................................1046 Services...........................................................................................................1046

Publications..................................................................................................1046 Educational Seminars & Schools..................................................................1046 State & Legislative Updates..........................................................................1046

Organization & Ownership...............................................................................1046 Alaska Bankers Association................................................................................1046


Education .....................................................................................................1046 Organization & Ownership...............................................................................1047

American Bankers Association ...........................................................................1047 History .............................................................................................................1047 Businesses ......................................................................................................1047

Conferences.................................................................................................1047 Schools ........................................................................................................1049 Certificates ...................................................................................................1050 Classroom Training ......................................................................................1050 Telephone Briefings & Webcasts..................................................................1050 The Institute of Certified Bankers..................................................................1054 American Institute of Banking .......................................................................1054 ABA Securities Association ..........................................................................1055 ABA Insurance Association ..........................................................................1055 Bankers Association for Finances & Trade ...................................................1057 Housing Partners Foundation .......................................................................1057 Corporation for American Banking................................................................1057 ABA Total Business Solutions ......................................................................1059 ABA Marketing Network ...............................................................................1060 ABA Education Foundation...........................................................................1061

Organization & Ownership...............................................................................1064 American Express...............................................................................................1065


History .............................................................................................................1065 Businesses ......................................................................................................1065

Credit Card & Travel Services ......................................................................1065 American Express Bank ...............................................................................1068

Organization & Ownership...............................................................................1069 Arizona Bankers Association ..............................................................................1069


Associate Member Directory.........................................................................1069 Preferred Providers ......................................................................................1069 Publications..................................................................................................1070

Organization & Ownership...............................................................................1070 Arkansas Bankers Association............................................................................1070


Educational Programs ..................................................................................1071 Endorsed Products & Services .....................................................................1071 Publications..................................................................................................1071 Government Relations..................................................................................1071

Organization & Ownership...............................................................................1071 Bankers’ Bank.....................................................................................................1072


Statistics ..........................................................................................................1072 Services...........................................................................................................1072

Deposit Operations Services ........................................................................1072 Autosolution .................................................................................................1072 Bank Credit Services ....................................................................................1072 Federal Funds ..............................................................................................1072 Community Mortgages .................................................................................1072 Community Bank Cards................................................................................1072 Bank Investment Services ............................................................................1073 Retail Investment Services ...........................................................................1073

Organization & Ownership...............................................................................1073 California Bankers Association ...........................................................................1073


Education .....................................................................................................1073 Partner Solutions..........................................................................................1073 Publications..................................................................................................1074

Organization & Ownership...............................................................................1074 Colorado Bankers Association ............................................................................1074


Education .....................................................................................................1075 Publications..................................................................................................1075 Products & Services .....................................................................................1075

Organization & Ownership...............................................................................1075 Connecticut Bankers Association........................................................................1075



Products & Services .....................................................................................1076 Publications..................................................................................................1076

Organization & Ownership...............................................................................1076 CUNA Mutual Group...........................................................................................1076


CUNA Mutual Life Insurance ........................................................................1077 CUNA Mutual Mortgage ...............................................................................1077 CMG Mortgage Insurance ............................................................................1077 Members Capital Advisors............................................................................1077

Organization & Ownership...............................................................................1078 Delaware Bankers Association ...........................................................................1078


Delaware Banker Magazine..........................................................................1078 Products & Services .....................................................................................1078 Web Seminars..............................................................................................1078

Organization & Ownership...............................................................................1079 Discover Financial Services ................................................................................1079


Discover Card...............................................................................................1079 Diner’s Club International .............................................................................1079

Organization & Ownership...............................................................................1079 Fannie Mae.........................................................................................................1080



Homeowner Services ...................................................................................1080 Homebuyer Services ....................................................................................1080

Organization & Ownership...............................................................................1080 Federal Financial Institutions Examination Council (FFIEC)................................1081



Consumer Compliance .................................................................................1081 Organization & Ownership...............................................................................1081

Fidelity Investments ............................................................................................1081 History .............................................................................................................1082 Businesses ......................................................................................................1082 Fidelity Institutional ..........................................................................................1082

National Financial Services ..........................................................................1082 Organization & Ownership...............................................................................1084


Fidelity National Financial ...................................................................................1085 History .............................................................................................................1085 Businesses ......................................................................................................1085

Metavante ....................................................................................................1085 Organization & Ownership...............................................................................1086

Fiduciary & Investment Risk Management Association (FIRMA).........................1086 History .............................................................................................................1086 Services...........................................................................................................1086

Conferences.................................................................................................1087 FIRMA Forum...............................................................................................1089

Organization & Ownership...............................................................................1089 Fiserv..................................................................................................................1091


Process Outsourcing ....................................................................................1092 Organization & Ownership...............................................................................1094

Florida Bankers Association................................................................................1094 History .............................................................................................................1094 Services...........................................................................................................1095

Government Relations..................................................................................1095 Education .....................................................................................................1095 Publications & Media Information .................................................................1095 BancServ Endorsed Vendors .......................................................................1095 Trust Division................................................................................................1095

Organization & Ownership...............................................................................1095 Freddie Mac........................................................................................................1095




Organization & Ownership...............................................................................1096 Georgia Bankers Association..............................................................................1097


GBA University .............................................................................................1097 Member Services .........................................................................................1097 Government Relations..................................................................................1097 Personal Economics Program ......................................................................1097 E-Publications ..............................................................................................1097

Organization & Ownership...............................................................................1097 Ginnie Mae .........................................................................................................1097





Organization & Ownership...............................................................................1098 Hawaii Bankers Association................................................................................1098


Government Relations..................................................................................1099 Organization & Ownership...............................................................................1099

Hewlett Packard..................................................................................................1099 History .............................................................................................................1099 Businesses ......................................................................................................1099

Hardware......................................................................................................1099 Organization & Ownership...............................................................................1099

Idaho Bankers Association..................................................................................1099 History .............................................................................................................1100 Services...........................................................................................................1100

Education & Training ....................................................................................1100 Endorsed Products.......................................................................................1100 Fraud-Net .....................................................................................................1100 Government Relations..................................................................................1100

Organization & Ownership...............................................................................1100 Illinois Bankers Association.................................................................................1100


Government Relations..................................................................................1101 Law & Compliance Resources......................................................................1101 Education .....................................................................................................1101 Publications..................................................................................................1101

Organization & Ownership...............................................................................1101 Indiana Bankers Association...............................................................................1101


Government Relations..................................................................................1102 Publications..................................................................................................1102 Education & Events ......................................................................................1102 Products & Services .....................................................................................1102

Organization & Ownership...............................................................................1102 Iowa Bankers Association...................................................................................1102


Government Relations..................................................................................1103 Compliance ..................................................................................................1103 Marketing .....................................................................................................1103 Management ................................................................................................1103 Human Resources........................................................................................1103 Operations....................................................................................................1103 Lending ........................................................................................................1103 Training ........................................................................................................1103

Organization & Ownership...............................................................................1103 Kansas Bankers Association...............................................................................1104

History .............................................................................................................1104


Services...........................................................................................................1104 Education .....................................................................................................1104 Legal & Government.....................................................................................1104 Publications..................................................................................................1104 Job Services.................................................................................................1104 Products & Services .....................................................................................1104

Organization & Ownership...............................................................................1104 Kentucky Bankers Association............................................................................1105


Compliance & Legal Services.......................................................................1105 Education .....................................................................................................1105 Publications..................................................................................................1105 Products & Services .....................................................................................1105

Organization & Ownership...............................................................................1105 Louisiana Bankers Association ...........................................................................1106


Education .....................................................................................................1106 Products & Services .....................................................................................1106

Organization & Ownership...............................................................................1106 LPL Financial ......................................................................................................1107


Bank Business..............................................................................................1107 Organization & Ownership...............................................................................1107

M Foundry ..........................................................................................................1108 History .............................................................................................................1108

Early Phase..................................................................................................1108 Middle Phase................................................................................................1108 Recent Phase...............................................................................................1109


Mobile Banking.............................................................................................1109 Mobile Payments..........................................................................................1109

Organization & Ownership...............................................................................1109 Market Rates Insight ...........................................................................................1109


Statistics ..........................................................................................................1110 Businesses ......................................................................................................1110 Organization & Ownership...............................................................................1110

Maryland Bankers Association............................................................................1110 History .............................................................................................................1110 Services...........................................................................................................1111

Government Relations..................................................................................1111 Education .....................................................................................................1111 Maryland Bank Services...............................................................................1111

Organization & Ownership...............................................................................1111


Massachusetts Bankers Association...................................................................1111 History .............................................................................................................1112 Services...........................................................................................................1112

Conferences.................................................................................................1112 Publications..................................................................................................1114 Endorsed Products & Services .....................................................................1115 Insurance Agency.........................................................................................1115

Organization & Ownership...............................................................................1115 Master Card........................................................................................................1117


Credit Card...................................................................................................1118 Organization & Ownership...............................................................................1118

Michigan Bankers Association ............................................................................1118 History .............................................................................................................1118 Services...........................................................................................................1118

Advocacy......................................................................................................1119 MBA Service Corporation .............................................................................1119 Education .....................................................................................................1119 Banking Resources ......................................................................................1119 Fraud-Net .....................................................................................................1119

Organization & Ownership...............................................................................1119 Microsoft .............................................................................................................1119


Software .......................................................................................................1119 Organization & Ownership...............................................................................1120

Minnesota Bankers Association ..........................................................................1120 History .............................................................................................................1120 Services...........................................................................................................1120

Education .....................................................................................................1120 Government Relations..................................................................................1120 Legal & Compliance .....................................................................................1120 Products & Services .....................................................................................1120 Group Insurance...........................................................................................1121 Consulting Group .........................................................................................1121

Organization & Ownership...............................................................................1121 Mississippi Bankers Association .........................................................................1121


Advocacy......................................................................................................1121 Education .....................................................................................................1121 Products & Services .....................................................................................1122 Conventions .................................................................................................1122

Organization & Ownership...............................................................................1122 Missouri Bankers Association .............................................................................1122


Government Relations..................................................................................1122 Compliance ..................................................................................................1123 Education .....................................................................................................1123


Insurance .....................................................................................................1123 Products & Services .....................................................................................1123

Organization & Ownership...............................................................................1123 Montana Bankers Association.............................................................................1123


Government Relations..................................................................................1124 Education .....................................................................................................1124 Products & Services .....................................................................................1124

Organization & Ownership...............................................................................1124 Nebraska Bankers Association ...........................................................................1124


Career Services............................................................................................1124 Products & Services .....................................................................................1125 Education .....................................................................................................1125 Legislative Services......................................................................................1125

Organization & Ownership...............................................................................1125 Nevada Bankers Association ..............................................................................1125


Training & Education ....................................................................................1125 NBA BankPAC .............................................................................................1126

Organization & Ownership...............................................................................1126 New Hampshire Bankers Association .................................................................1126


Education & Training ....................................................................................1126 Government Relations..................................................................................1126 Insurance Trust ............................................................................................1126 Brocarius ......................................................................................................1126 Mortgage Insurance......................................................................................1127

Organization & Ownership...............................................................................1127 New Jersey Bankers Association........................................................................1127


Seminars & Events.......................................................................................1127 Publications..................................................................................................1127 Products & Services .....................................................................................1128 Government Relations..................................................................................1128

Organization & Ownership...............................................................................1128 New Mexico Bankers Association .......................................................................1128


Government Relations..................................................................................1128 Education .....................................................................................................1128

Organization & Ownership...............................................................................1129 New York Bankers Association ...........................................................................1129


Government Relations..................................................................................1129


Education & Meetings...................................................................................1129 Profit Solutions .............................................................................................1132 Publications..................................................................................................1132

Organization & Ownership...............................................................................1132 North Carolina Bankers Association....................................................................1133


Community Bank Services............................................................................1133 Community Service ......................................................................................1133

Organization & Ownership...............................................................................1134 North Dakota Bankers Association......................................................................1134


Education .....................................................................................................1134 Products & Services .....................................................................................1135 Publications..................................................................................................1135

Organization & Ownership...............................................................................1135 Ohio Bankers League .........................................................................................1137


Government Relations..................................................................................1137 Education .....................................................................................................1138 Employee Benefits .......................................................................................1138 Products & Services .....................................................................................1138 Trust Banking ...............................................................................................1138 Financial Literacy .........................................................................................1138

Organization & Ownership...............................................................................1138 Oracle.................................................................................................................1138


Servers.........................................................................................................1138 Organization & Ownership...............................................................................1138

Oregon Bankers Association...............................................................................1139 History .............................................................................................................1139 Services...........................................................................................................1139

Education .....................................................................................................1139 Government Relations..................................................................................1139 Products & Services .....................................................................................1139 Publications..................................................................................................1139

Organization & Ownership...............................................................................1139 Pennsylvania Bankers Association .....................................................................1140


PBA Services Corporation............................................................................1140 Education & Training ....................................................................................1141 Events ..........................................................................................................1141 Government Relations..................................................................................1141 Grassroots Advocacy Program.....................................................................1142

Organization & Ownership...............................................................................1142 Raymond James.................................................................................................1143

History .............................................................................................................1144


Businesses ......................................................................................................1144 Raymond James & Associates .....................................................................1144

Organization & Ownership...............................................................................1144 Rhode Island Bankers Association......................................................................1145


Education .....................................................................................................1145 Organization & Ownership...............................................................................1145

Sallie Mae...........................................................................................................1145 History .............................................................................................................1146 Services...........................................................................................................1146

Student Loans ..............................................................................................1146 Organization & Ownership...............................................................................1146

SEI Investments..................................................................................................1146 History .............................................................................................................1146 Businesses ......................................................................................................1147

Private Banking & Trust Business.................................................................1147 Organization & Ownership...............................................................................1149

South Carolina Bankers Association ...................................................................1150 History .............................................................................................................1150 Services...........................................................................................................1150

Government Relations..................................................................................1150 Education .....................................................................................................1150 Products & Services .....................................................................................1150 Publications..................................................................................................1150

Organization & Ownership...............................................................................1150 South Dakota Bankers Association .....................................................................1151


Education .....................................................................................................1151 Insurance & Services....................................................................................1151

Organization & Ownership...............................................................................1151 Tennessee Bankers Association.........................................................................1151


Education .....................................................................................................1152 Government Relations..................................................................................1152 Products & Services .....................................................................................1152

Organization & Ownership...............................................................................1152 Texas Bankers Association.................................................................................1152


Conferences.................................................................................................1153 Publications..................................................................................................1154 Legislative Advocacy ....................................................................................1154

Organization & Ownership...............................................................................1156 United States of America ....................................................................................1156

History .............................................................................................................1156 Branches .........................................................................................................1156

Executive Branch .........................................................................................1156 Department of Treasury ............................................................................1157


Organization & Ownership...............................................................................1158 Utah Bankers Association...................................................................................1158


Advocacy......................................................................................................1158 Education .....................................................................................................1158 Products .......................................................................................................1158 Endorsed Products & Services .....................................................................1158

Organization & Ownership...............................................................................1158 Vermont Bankers Association .............................................................................1159



Organization & Ownership...............................................................................1159 Virginia Bankers Association...............................................................................1159


Government Relations..................................................................................1160 Educatoin .....................................................................................................1160

Organization & Ownership...............................................................................1160 Visa ....................................................................................................................1160


Credit Card Services ....................................................................................1160 Organization & Ownership...............................................................................1161

Washington Bankers Association........................................................................1161 History .............................................................................................................1161 Services...........................................................................................................1161

Advocacy......................................................................................................1161 Education .....................................................................................................1161 WBA Professional Services ..........................................................................1161

Organization & Ownership...............................................................................1161 West Virginia Bankers Association......................................................................1162



Organization & Ownership...............................................................................1162 Wisconsin Bankers Association ..........................................................................1163


Education .....................................................................................................1163 Advocacy......................................................................................................1163 Financial Institution Products Corporation ....................................................1163 WBA Employee Benefits Corporation Trust ..................................................1163

Organization & Ownership...............................................................................1163 Wyoming Bankers Association............................................................................1164

History .............................................................................................................1164


Services...........................................................................................................1164 Education .....................................................................................................1164 Advocacy......................................................................................................1164 Products & Services .....................................................................................1164

Organization & Ownership...............................................................................1164 Duplication or distribution of this report, and/or the data in this report, is strictly prohibited

without the written consent of Tiburon Strategic Advisors, LLC

The Retail Banks Market: Generating Revenues Beyond Net

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