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An interesting newswire today FYI ----
Mr. Rhino
(PR NEWSWIRE) TIB Financial Corp. Completes Internet Banking Capabilities
TIB Financial Corp. Completes Internet Banking Capabilities
KEY LARGO, Fla., April 26 /PRNewswire/ -- TIB Financial Corp.
(Nasdaq: TIBB), parent company of TIB Bank of the Keys, announced today the
completion of its strategic steps and alliances that insure the availability
of full-service, real-time, on-line Internet banking. Together with the
company's 30% owned affiliate, ERAS JV, a Miami-based software developer and
data/item processor, and a recently signed long-term agreement with Q-UP
Systems, Inc., a Texas-based Internet banking systems provider, TIB Bank will
be providing its Internet banking products to its existing 30,000 customers
and to prospective Internet customers by early summer.
"Having the resources, respect and momentum of a well-established core
bank, TIB has been successful in developing this partnership with industry
leaders in on-line Internet banking. This combination of experience and
technological leadership will position TIB to offer what we believe to be an
enhanced and exciting Internet product. As an example, traditional on-line
products and services will be complemented by customer access to their check
images, which is a feature offered by few banks today. Cash management tools
for commercial accounts and future links to our Investment subsidiary and
Government Loan subsidiary will also be added in the months ahead," said Ed
Lett, President and Chief Executive Officer of the company.
Dan Taylor, Executive Vice President and Chief Operations Officer, has
been creating Internet banking products for the past two years. Taylor has
positioned TIB to be competitive in offering technology-driven products and
services over the Internet.
In 1997, TIB Financial Corp. purchased a 10% interest in ERAS JV to begin
the strategic process for Internet banking. In 1998, TIB converted its 30,000
customer base to imaged-item processing at ERAS JV. In September of 1998,
ERAS JV signed an agreement with Phoenix International, a data processing
software provider. ERAS JV has, through this agreement, become a third-party
Phoenix provider and offers a desirable outsourced solution for banks wanting
the Phoenix data processing. TIB has subsequently increased its ownership of
ERAS JV to 30%.
"A successful conversion of TIB's existing customer base to Phoenix on
April l2th, combined with our pre-existing imaging capabilities and the
addition of Q-UP Systems as our Internet delivery solution, has accomplished
our initial moves toward providing real-time, on-line Internet banking. Our
customers will soon be invited to use and enjoy the Internet banking system.
Marketing plans will offer TIB's products to on-line Internet users during the
summer of 1999," said Dan Taylor.
Copies of TIBB press releases, SEC filings, current price quotes, stock
charts and other valuable information for investors may be found on the
website tibbank.com.
For further information, contact Edward V. Lett, President and Chief
Executive Officer of TIB Bank of the Keys, at (305) 451-4660, Ext. 117.
SOURCE TIB Financial Corp.
-0- 04/26/99
/CONTACT: Edward V. Lett, President and Chief Executive Officer of TIB
Bank of the Keys, 305-451-4660, ext. 117/
/Web site: tibbank.com
(TIBB)
CO: TIB Financial Corp.; TIB Bank of the Keys; ERAS JV; Phoenix International
ST: Florida, Texas
IN: FIN
SU: LIC
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