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May 2018
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CEO Corner

By Jon Evans

On April 6, we implemented the conversion of our systems with those of BBN. While we experienced some problems at the time, operations should be flowing smoother now. There still need to be some changes made to XNET and for that, we seek your input, as our goal is to have an efficient, user friendly customer communications platform.
 
We recently adjusted our product and service pricing across our geography with the objective of maintaining a revenue neutral pricing philosophy, post-merger. The new Fee Schedule was communicated to you earlier this spring. While we had not adjusted pricing in many years we tried to be as fair as possible with the changes. We hope this did not negatively affect you on your total monthly bill. 
 
Our next step is to standardize our product and service delivery and business processes. Again, our goal is to minimize the impact on you, our customers. We will communicate these changes and their impact to affected customers well before implementing them. Customer training will be made conveniently available to your staff to make sure they are aware and understand the changes. We believe process consistency will help us deliver the best service possible to you.  
 
You can expect to see more frequent communication from the Bank in 2018. On that theme, in this newsletter you will find an ACBB product/service Key Contact list to help you navigate to the right person to contact with any of your questions or issues. Additionally, you’ll find our 1st quarter financial update to keep you up-to-date on our performance.
 
In closing, as a bigger and stronger bankers’ bank, we look to the future optimistically with new product and service concepts in development to make your business better and more profitable. While we have our own new product and service thoughts, the best ideas come from you, our customers, who are facing the competition and the rapid advancement of technology everyday. Please feel free to reach out to me, our senior management team or your Relationship Manager with your thoughts. We would love to hear from you!
 
We thank you for your business and support and look forward to continuing to serve your correspondent banking needs.


www.acbb.com 
www.acbb-bits.com 
www.bbnfirst.com

Click here to view the latest ACBB Financial Highlights
ACBB is committed to adding value for our cooperative partners. As part of our ongoing evaluation process, we would like to get your feedback on various topics. Please take a few moments to complete a two question survey – your participation is greatly appreciated. Click here to take the survey.

Earning Credit Rate


As a cooperative, ACBB is committed to providing its shareholders and customers attractive products at competitive prices. This even includes pricing on overnight deposits. Beginning July 1st, ACBB will pay shareholders an Earning Credit Rate (ECR) on deposits equal to the Fed Funds target rate. As of May 30th, ACBB’s shareholder ECR is 1.55%. Assuming no additional rate increases, the shareholder ECR will increase to 1.75% on July 1st. Non-shareholders will still receive a competitive, yet slightly lower ECR than the shareholder ECR. Moving forward, we expect the shareholder ECR to shadow the Fed Funds target rate. If you have questions, please contact your Relationship Manager.

Who Do You Call?

By Craig H. Howie
Senior Executive Vice President

The foundation for the merger of BBN with ACBB was to provide a stronger bankers’ bank for community financial institutions throughout the Mid-Atlantic states and New England. We can achieve this through operational efficiency, a broader array of competitive products and better customer pricing through greater aggregation. We are now in the process of streamlining and synchronizing our business practices and procedures. Depending on products and services used, this may result in changes that could affect your institution.

I am sure you or your staff may have some questions regarding these and other topics. The following is a list of product and service specialists that you can contact with your questions. As always, your Relationship Manager is your primary advocate and is available to assist and to address any concerns you may have.

Click Here for Key Contacts

Welcome to ACBB!
We at ACBB would like to announce and welcome our newest shareholders!
 
Hometown Bank, Oxford, MA
Washington Savings Bank, Lowell, MA
First County Bank, Stamford, CT 
Middlesex Federal Savings Bank, Somerville, MA 
Activo Bank, San Juan, PR 
Community National Bank, Newport, VT
Advantage International Bank Corporation, San Juan, PR 
Passumpsic Savings Bank, St Johnsbury, VT
Millbury Savings Bank, Millbury, MA 
Mechanics Savings Bank, Auburn, ME
Woodsville Guaranty Savings Bank, Woodsville, NH
Norwood Co-operative Bank, Norwood, MA
Pawtucket Credit Union, Pawtucket, RI
Follow us on: Linkedin  |  717-441-4507

Compliance Anchor Overview

By Kevin Martin, CRCM, CAMS
Compliance Anchor Consultant 


Compliance Anchor is one of ACBB’s best-kept secrets! Many of you are new to ACBB and/or Compliance Anchor and may only be aware of us as webinar providers. There is so much more to tell!  Here’s an overview of what Compliance Anchor does for community financial institutions:

Veterans’ Venues – Let Compliance Anchor do all the reading through the month for you and bring your institution the news in bullet point format with links to the original documents included. Compliance Veterans’ Venues includes an expanded section on a specific topic. One of the best parts of these sessions is the networking opportunity. Members are able to poll the group or discuss topics of interest with one another during these online sessions. We also share documents and Q&A’s within our membership.

Read More

Upcoming Events

Beyond the Basics, BSA School:
June 25:
 Kingston, NY

Webinars:
June 12: What You Need to Know About Cryptocurrency
August 21: The Rise of the Chief Risk Officer - Your Purpose and What's Expected of You
October 23: Fintech and Crowdfunding: A New Frontier
Veterans Venues:
BSA                   Compliance
June 5                June 21
July 10                July 19
August 16           August 7
 
Learn More & Register for Upcoming Events

Follow us on: Linkedin Twitter YouTube  |  888-400-BITS

Message from the CEO

Our family keeps growing! So far this year, BITS has been off to a fantastic start! We have already signed over 100 branches worth of clients in the first quarter alone, including banks primarily in New England and Iowa. We have even more banks in the pipeline, including prospects ranging from local banks with +$100MM in assets, to several large opportunities in the $4-10B asset range. Thanks to all our clients who have either referred us to other banks or served as great references. The more customers we install, the better price pressure we can apply on our wholesale carriers when renegotiating your carrier pricing; a true win-win for our customers and BITS, with our co-op model.

Read More
To learn more contact:
Jerry Murphy - CEO

jerald.murphy@bits.us 
973-474-1822
Christian Ericson - CMO
christian.ericson@bits.us 
973-474-1828
 
Copyright © 2017 ACBB, All rights reserved.

Phone: 717-737-9335  Fax: 717-737-7975  |  acbb.com

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Atlantic Community Bankers Bank · 1400 Market Street · Camp Hill, PA 17001 · USA

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