FOR IMMEDIATE RELEASE
ICBA Expands Cooperative Alliance with Promontory Interfinancial Network to Include Bank Assetpoint
Online platform allows community banks to connect with purchasers of bank assets
Washington, D.C. (February 4, 2013)—The Independent Community Bankers of America (ICBA) today announced that it has expanded its Cooperative Alliance with Promontory Interfinancial Network to include Bank AssetpointSM. Promontory Interfinancial Network today launched the beta release of the Bank Assetpoint service, which provides a new, online platform that allows community banks to connect with eligible buyers and sellers of bank assets.
“Bank Assetpoint enables community bankers to post and search for listings of assets, such as commercial real estate and loans,” said Dan Clancy, executive vice president of services at ICBA. “Potential purchasers can communicate with banks that post asset listings in a seamless, easy process. ICBA is delighted to introduce this solution to its member banks.”
Bank Assetpoint features Asset SourceSM, which allows banks and other participants to list and search for a variety of bank assets, including bank-owned commercial real estate, and performing and non-performing loans. The service also includes the Assetpoint CommunitySM, which enables banks to search for service providers that can assist with an asset sale or purchase. Promontory Interfinancial Network offers a full range of customer service and technical support to assist all parties.
Bank Assetpoint is operated by Assetpoint Services, LLC, a wholly owned subsidiary of Promontory Interfinancial Network, LLC. More than 3,000 financial institutions participate in Promontory’s network by using one or more of its services. These institutions include approximately 40 percent of the banks in the United States.
The Independent Community Bankers of America®, the nation’s voice for nearly 7,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit www.icba.org.