The Peoples Bank (TPB) has been a staple of Marion, KY, since its founding in 1946. A true community bank of “local people focusing on local people,” this institution strives to offer customer service rivaling regional and national competitors while maintaining a hometown feel.
But when new management took over TPB in 2007, they knew it would take some work to usher the bank into the modern era. They affectionately called TPB a “62-year-old de novo” because although they already had a customer base, it felt like starting from the beginning.
The Peoples Bank’s new leaders wanted to change its logo, bank colors and other attributes. But first, they wanted to focus on technology and an effective core provider that could connect them with valuable customer data. So, with limited resources but lofty goals, they prioritized the right technology partner to help them reach those new heights.
Choosing the Right Technology Partner for Growth
Before he and a group of shareholders acquired the bank, Terry Bunnell, chairman, president and CEO of The Peoples Bank, already had some familiarity with CSI. Bunnell had previously started a de novo bank and had relied on CSI for core technology for approximately four years.
“The number one thing I liked about it was the contact and the personality of CSI. When I started talking to different vendors, the CSI group had a different flavor,” says Bunnell of the decision-making process. “You could just see the character of the company.”
According to Bunnell, that character included high contact, consistency and dependability. CSI’s Founder, John Williams, gave a presentation to The Peoples Bank team about why an enterprise core partnership with CSI could accelerate growth and position them to compete at a larger scale.
I don’t have the time or the expertise to find partners to help me. But I do have a company that can bring those partners to me, and that’s what CSI brings to the table. CSI is on the cutting edge to grow your bank – and they’re out looking for partners, too.
Terry Bunnell
Chairman, President and CEO
The Peoples Bank
Growing Together with CSI and NuPoint®
As TPB began to grow, it expanded into Glasgow, KY, with a full-service sales center. With more centralized data through NuPoint core, the bank could also expand its customer base and strengthen its ability to serve them.
Through CSI’s NuPoint system, data became less siloed and easier to access. NuPoint’s intelligence and analytics tools also helped TPB harness tremendous amounts of customer data to improve their service and determine which integrated digital banking solutions they needed next.
The improvements to the bank and consistent customer service gave TPB the confidence to rely on CSI for various other solutions, including website hosting, digital banking, VPN and managed services, regulatory compliance and more. The Peoples Bank has received some of its most positive customer feedback around its mobile banking app.
According to Bunnell, “Customers feel in control of their finances. When you use the app, you can see that a check has cleared, see what your balance is, look at your line of credit, look at other loans and your debit card.”
Working in coordination with their CSI Relationship Manager, the team regularly maps out their needs. If CSI doesn’t offer the right solution, they recommend a partner that does.
“I don’t have the time or the expertise to find partners to help me. But I do have a company that can bring those partners to me, and that’s what CSI brings to the table,” says Bunnell. “CSI is on the cutting edge to grow your bank – and they’re out looking for partners, too.”
Looking Ahead
The Peoples Bank soon plans to launch more digital tools, such as NuFund, CSI’s updated account opening solution. Bunnell believes that fully entering the digital space will take the bank to the next level, and remains thankful that CSI will help carry the weight to keep them competitive.
When asked about the partnership and his outlook on growth for the future, Bunnell added, “We’ve grown a lot. But when I was a small bank, I was treated one way, and as we’ve grown, I’m treated that same way. We have that rapport, and that’s really made a difference for us … Our bank would not be where we are today without CSI as a partner.”