The Paducah Bank and Trust Company, Paducah, KY
"Paducah Bank has had a relationship with the Promontory Network for over 10 years. It started with CDARS reciprocal deposits for a large public fund and we added ICS both the checking and savings products when they became available. We also added the CDARS "1-way" funding to supplement our borrowing needs and use that product weekly. Our bank recommends these services as an efficient way to secure local deposits and supplement funding needs."
Mr. John Durbin, CIO
Traditional Bank, Inc., Mount Sterling, KY
"Traditional Bank used CDARS since 2004 and has had great success with the program. We also utilize both the reciprocal and one-way sell ICS products which have been an even greater success for the bank. With the use of both of these programs we have been able to reduce the amount of securities that would have been used for collateral to obtain these deposits. We currently have over one-third of our $1.2 million deposits in both ICS and CDARS. It has been a win-win for both our customers that require FDIC insurance on large deposit balances and for the bank by garnering new relationships with customers we may have not been able to get. Traditional Bank recommends the program to other Kentucky banks."
Traditional Bank, Inc.,