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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: let who wrote (2157)	8/1/1999 1:10:00 PM
From: Secret_Agent_Man	Respond to of 2414

NETBANK-Short candidate per Barrons here's why> Q: Okay, tell us another negative story. A: Net.B@nk is an online bank. The stock was shifted to the Nasdaq National Market list from the small-capitalization list on February 5, and quickly soared to 83 from a 12-month low of 3.58. Recently it was about 24. Our downside target is 7-10. This thing has a huge, huge multiple relative to the overall banking industry, and has a very low spread between what they pay for deposits and charge for loans. True, its deposits are growing very quickly, but I believe this inflow will slow down. By not having a bricks-and-mortar facility and not having face-to-face relationships between loan officers and customers, Net.B@nk needs to pay a much higher rate for deposits collected online than, say, First Union, does in a traditional facility. I see online banking as a complement to face-to-face banking. If I need a loan or other stuff, I'm willing to go to a real bank. I'm not going to mail stuff back and forth. We think Net.B@nk can carve out a niche for itself. But if you think about it, the clients they are getting probably are chasing high yields. They may actually be carving away from other banks the least profitable segment of their business. interactive.wsj.com need to be subscriber no position just FYI

To: let who wrote (2157)	8/1/1999 1:16:00 PM
From: Susan G	Respond to of 2414

ATLANTA, GEORGIA, U.S.A., 1999 JUL 29 (NB) -- By Steve Gold, Newsbytes. Net.Bank [NASDAQ:NTBK], the Web-based bank, says the number of individual accounts on its service has doubled to 40,000 in the last six months. As a result of this growth, the bank has enhanced its Web site at netbank.com to allow new customers to interactively track their account applications online, rather than have them wait for their account activation packs through the mail. Net.Bank offers more than three percent interest on its NetValue and other checking accounts. This is despite the fact that the NetValue account is free of regular charges and only requires a starting balance of $100. In return for the initial deposit, account holders get free checks and an ATM card free of all charges worldwide (excluding where the ATM owner imposes a charge at the point of sale). Andrea Thabit, a spokesperson for the bank, told Newsbytes that one of the most appealing aspects of an online bank is that it can be accessed internationally. "This makes the bank attractive to ex-patriots (of the US)," she said, adding that Net.bank now has account holders in 20 countries other than the US. Thabit said that due to a lack of real estate overhead, the bank can offer excellent rates of interest to customers, both on checking and savings accounts, and loans. "The bank has been profitable for the last five quarters as well, which we think is a major feature, because not too many Web-based operations are profitable," she said. Plans are in hand for Net.bank to introduce several other new facilities for customers in the coming months. These will include check and document imaging for online viewing of all account documents; an instant messenger system in which customers, while online, will be able to immediately send and receive e-mail with a customer service representative; online check reordering, and new systems that allow for faster credit approvals. Fully FDIC insured, the bank also offers a range of services, including free unlimited online bill payment, free unlimited ATM use, Visa and MasterCard credit cards, online brokerage services and mortgage facilities. Reported by Newsbytes.com, newsbytes.com .