First Business Bank Brings Cashless Banking to Northeast Wisconsin
OSHKOSH, WI - August 17, 2007 - First Business Bank, a business focused financial institution, is opening offices in northeast Wisconsin, bringing with them their unique cashless business model that has already proven to be successful. Their clients transmit transactions electronically using password-protected online banking, remote deposit capabilities, and branch automation. There are several benefits to this style of banking including convenience and lower costs for their clients.
Because of the way First Business Bank is structured, they can leverage the lending power of the entire organization. "We can lend significantly more per client than a typical start-up bank, which is only able to lend about $1 million per client. It’s much more efficient, and that efficiency gets passed along to the client in price," said Mickey Noone, President - Northeast Region.
Clients with multiple needs and who demand a high level of service will benefit the most from First Business Bank?s offerings. Trust services, investment management services, qualified retirement plans, equipment finance and leasing, asset-based lending, commercial lending, and treasury management are the core focus of the First Business family of companies, with total assets in excess of $800 million.
"We have identified small to medium-sized privately held companies as our target market so we can produce the service we think they deserve rather than trying to be everything to everybody," Noone said. Noone also adds this banking format is not a good fit for every business. "The very small and start up businesses, or those with a lot of cash transactions, are typically not a good fit for us as their product and service needs are much different than what we are structured to provide." First Business specifically targets manufacturing, wholesale, distribution, and commercial real estate companies.
About First Business Bank - Northeast First Business Bank - Northeast operates from 601 Oregon Street in Oshkosh and will be opening an Appleton office at Highways 41 and BB in the fall of 2007. In addition to offering commercial loan products, First Business Bank - Northeast offers a full line of deposit, investment, and leasing products through its affiliates First Business Bank - Madison and First Business Trust & Investments, including remote deposit, cash management products, Internet banking, retirement plans, investment management services, trust services, asset-based lending, and equipment finance and leasing.