Paducah Bank Rekindles Thirty-Year Relationship with CSI

January 04, 2012 at 11:05 am

MarketScreener.com By

Bank positions itself, customers for growth with trusted partner and core processor CSI

In 1965, Paducah, Ky.-based Paducah Bank ($530 million in assets) first began working with Computer Services, Inc. (CSI) (OTCQX: CSVI), a leading provider of core banking solutions. For nearly the past 15 years, however, the bank opted to manage its core processing business in-house. Today, Paducah Bank has returned to CSI to form a new and mutually productive partnership.

Joe Framptom, chief executive officer of Paducah Bank, cites CSI's ability to better handle the complex data processing needs required of modern banks as the reason for its recent decision.

"Working with CSI again is a lot like reconnecting with an old friend," said Framptom. "After more than 30 years as a CSI customer, we decided to process internally, but in today's complex and demanding data processing environment, we have reevaluated our needs and determined that it is in the best long-term interests of our customers to renew our partnership with CSI."

CSI's NuPoint® is a comprehensive core banking suite delivered via service bureau and supported by solution customization and training. By leveraging CSI's infrastructure, resources and expertise, the bank eliminates the investments in hardware and software needed for in-house systems. This liaison significantly strengthens Paducah Bank's provision of mobile and Internet banking services such as online banking, SMS text banking, mobile browsing or smartphone applications.

"The growth and development of banking technologies will give our bank new and creative ways of delivering these services to our customers," Framptom said. "CSI's technology innovators have taken these products to a new level, and we are excited about the ability to now offer these enhancements to our community."

"Several companies provide basic processing services, but none can do it any better than CSI, a well-respected industry leader located here in Paducah," said Framptom. "Our bank's owners, directors and staff are truly pleased that we can engage a local company, managed and run by our friends and neighbors, to provide these vital products and services to us and to our customers."

"CSI is ready to write the next chapter in the story of our relationship with Paducah Bank while providing them with the tools necessary to offer their customers the most up-to-date banking technologies available," said Steve Powless, chief executive officer of CSI. "Paducah Bank is an important part of our history, and having them trust CSI with their banking technology needs brings that history full circle."

About Paducah Bank

Paducah Bank is Paducah's only locally owned bank with 150 employee/owners and six locations throughout Paducah/McCracken County. Paducah Bank is currently the top small business lender and the top mortgage lender in Paducah/McCracken County. In 2007, the bank was named Kentucky's Best Place to Work among medium-sized companies. In 2008, Paducah Bank was named one of the Top 15 Small Workplaces in North America by the Wall Street Journal. The bank is also a leading contributor to civic and charitable projects including being a founding partner of the community's award-winning Artist Relocation Program.

About Computer Services, Inc.

Computer Services, Inc. (CSI) delivers core banking, payments processing, Internet, card services, risk assessment, fraud prevention, network management, managed services, regulatory compliance and document delivery solutions to financial institutions and corporate entities across the nation. Technology planning, personal account management and world-class customer service explain why CSI is known as one of the nation's premier providers of technology solutions for the financial services industry. CSI's stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.