NetBank(NTBK)-formerly Atlanta Internet Bank Message Board

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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank

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To: Les White who wrote (586)	5/31/1998 12:57:00 AM
From: peter michaelson	Read Replies (1) of 2414

Thanks, Les. That branching strategy sounds very powerful, indeed, and low cost. Horizon spending gazillions on a branch - it is unbelievable. Everywhere I look my interest not being paid on my checking deposits and being paid on loans is being spent on pricey real estate. The bricks and mortar come from the days when security was primary - like it's hard to break into the vault type of security. That has not been a significant banking issue for a long time and shows how old-fashioned and tradition bound banking still is. We're about to see banking get a whole lot more efficient. These banking mega-mergers we are seeing are not the most significant current event in banking. They are all still Sears, when Wal-Mart is coming to town. BTW, I continue to have an exceedingly positive experience working on a mortgage with AIB. They are using a mortgage outfit located in southern Florida for underwriting and processing, but the guy I'm dealing with is very efficient and experienced. Costs and rates are the best I've seen around. I can use my own title insurance company and lots of other good stuff. Peter

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