Paducah Bank Renews Fintech Partnership with CSI
PADUCAH, Ky., July 29, 2019 – Paducah, Kentucky-based Paducah Bank ($668 million in assets) has renewed its long-standing partnership with Computer Services, Inc. (CSI) (OTCQX: CSVI). The bank will continue to partner with CSI, a leading provider of financial technology solutions, as its core banking solution provider for another seven years.
“We are pleased to announce the extension of our working relationship with CSI,” said Mardie Herndon, Paducah Bank’s president and COO. “We have great respect for the leadership of CSI, the partners that service this commitment and the enhanced degree of strategic support provided to our organization. The continuation of this contract benefits our clients and ultimately the communities we serve.”
Paducah Bank rejoined CSI as a core processing customer in 2012, though the two organizations had worked together previously. The bank leverages CSI’s NuPoint®, a cloud-based core banking platform that offers scalable, efficient banking technology for improved work flows, reporting and access to customer information. Additionally, Paducah Bank utilizes several other CSI fintech solutions, including its treasury management tools and fully integrated digital banking platform. Since rekindling its relationship with CSI seven years ago, the bank has grown its assets organically by 26 percent through its focus on enhancing the customer experience for its retail and commercial clients.
“There is great cultural synergy between Paducah Bank and CSI as we both look to accelerate growth while remaining true to the foundation of our success,” Herndon said. “We look to the future with tremendous optimism, and we are glad to have CSI as a trusted, long-term partner.”
Paducah Bank and CSI celebrated their continued partnership at a signing ceremony at CSI headquarters on Friday, July 26. Senior leaders from the bank and CSI were present to recognize the shared vision and values between both organizations.
“At CSI, we understand the importance of building relationships through proven technology and trusted service, which is central to Paducah Bank’s culture as well,” said Steve Powless, CSI’s chairman and CEO. “We are ecstatic to continue our partnership with Paducah Bank, and we look forward to supporting their strategic growth plans for years to come.”
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.