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Article: Bankers' Banks Mine for GoldInSoutheast, Silverton Country.(Community Banking)
- Article from:
- American Banker
- Article date:
- June 18, 2009
- Author:
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Marissa Fajt
Silverton Bank's former customersare finding nature really does abhor a vacuum.
Atlanta-based Silverton, the biggest correspondent bank in the Southeast, failed seven weeks ago, and area community banks are already awash in choices to replace it. It's no wonder bankers' banks are interested - the $4.1 billion-asset Silverton left behind more than 1,000 customers.
"What attracts a bankers' bank to a particular area is the ability to pick up new correspondent relationships," said Joseph Quinlan 3rd, the president of the First National Bankers' Bank in Baton Rouge. "There is a finite number of correspondent relationships, and ...
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