ICBA News Release
FOR IMMEDIATE RELEASE
Promontory Interfinancial Network Announces National Launch of Bank Assetpoint
ICBA Has Cooperative Alliance with Promontory Interfinancial Network That Includes Bank Assetpoint
Washington, D.C. (Oct. 24, 2013)—The Independent Community Bankers of America® (ICBA) and Promontory Interfinancial Network, LLC, today announced the national launch of Bank Assetpoint, an online marketplace that enables community banks to conveniently sell and purchase bank assets while simultaneously connecting with market participants across the nation. The beta release of the platform, which opened in February, resulted in more than 4,000 participants—1,000 of which were community banks.
“ICBA is encouraged by the success of Bank Assetpoint during its beta period and is excited to again bring the service to our members’ attention as it becomes nationally available,” said Dan Clancy, ICBA executive vice president of services. “This platform simplifies the asset market by offering a secure space, allowing community banks to develop relationships with potential buyers of bank assets and to diversify their portfolios.”
Bank Assetpoint allows community bankers to post assets for sale directly or through a real estate broker or loan sale advisor. By posting assets for sale, bankers are able to promote a single listing to a large pool of potential buyers that may not have had access to the opportunity previously. Bankers can also monitor a wide range of assets that may help them understand the market value of their own assets and diversify their portfolios through the purchase of real estate and loan assets across geographic or industry-specific areas. Additionally, the platform offers information about a range of third-party support, including real estate brokers, pricing and valuation experts, correspondent banks, and more.
“Bank Assetpoint pulls everything—the asset listings, the players, the professional advisors—onto one comprehensive platform,” said Richard Walter, senior managing director at Promontory Interfinancial Network and head of Bank Assetpoint. “In just eight months, it has created new opportunities for buyers and sellers to connect, allowing banks to diversify and enhance their portfolios.”
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.