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

To: $Mogul who wrote (1412)	4/12/1999 3:51:00 PM
From: AugustWest	Respond to of 2414

$160? Yow!

To: $Mogul who wrote (1412)	4/12/1999 4:15:00 PM
From: Mike Milde	Read Replies (2) \| Respond to of 2414

$Mogul, read the last posts and the annual report. An all Internet bank has little overhead. Transactions cost them about 1% what a bricks-and-mortar bank does. They can then offer free bill pay, free checking at 3%, 5% money market, free ATM, etc. Normal banks can never do that - their costs are too high. Mike

To: $Mogul who wrote (1412)	4/12/1999 7:01:00 PM
From: Jimbo Cobb	Read Replies (2) \| Respond to of 2414

Mogul...I think a more relevant question might be, what is NTBK doing that another upstart Internet bank (low barrier to entry) can't do tomorrow ??? The traditional banks have no intention of paying the high rates and low fees that NTBK can offer its customers (at least not until they absolutely positively have to)...but I suppose they could invest in new startup Internet banks to compete against NTBK... biz.yahoo.com Jimbo.

To: $Mogul who wrote (1412)	4/14/1999 9:13:00 AM
From: Kimberly Lee	Read Replies (2) \| Respond to of 2414

8:25a Internet's First Exclusively Business-To-Business Bank (FSFH) Business Editors & Internet/On-Line Writers HOUSTON--(BUSINESS WIRE)--April 14, 1999-- -Signs Letter of Intent to Invest in Bank Holding Company to Facilitate Acquisition of National Bank Charter First Sierra Financial, Inc. (Nasdaq: FSFH) today announced that, subject to regulatory approval, it will establish the first Internet-based business-to-business bank. By establishing the Bank, which First Sierra anticipates will be operational by the end of the fourth quarter of 1999, the Company will be able to expand its equipment lease financing offerings to include a broad range of business banking products. The Board of Directors has also approved the Company's pursuit of additional capital to meet regulatory requirements in connection with the establishment of the new Bank. First Sierra's strategy is to expand its e-commerce product and service offerings to the small business market. The Company believes this strategy will be advanced with the creation of the first business-to-business Internet bank devoted exclusively to the needs of small business customers. The total number of small businesses in the U.S. is estimated to be in excess of 10 million. First Sierra has created a sizeable customer base exceeding 50,000 small businesses, including approximately 7,500 new business customers added in the first quarter. The Compaoy received approximately 6,700 business applications in the month of March. "First Sierra's success to date reflects our ability to meet the needs of the small business market, which is underserved by traditional banks," said Thomas Depping, President and Chief Executive Officer. "Now, in addition to providing the financing services most banks no longer offer to small businesses, we're moving fully into the market niche they no longer occupy. By establishing an Internet-based bank, we can diversify our funding sources, lower our all-in cost of funds, and further the e-commerce strategy that is central to First Sierra's continued success." "Our Internet business strategy is to focus on the high volume of repeat transactions that small businesses conduct every day," said Michael Sabel, Executive Vice President. "Our new Internet bank will allow us to offer additional high margin e-commerce products to our rapidly growing number of business customers. We believe that our focus on the business customer has the potential to drive higher margins than the more commoditized Internet consumer bank model." This release contains forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Readers should not place undue reliance on forward-looking statements, which reflect the management's view only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. Readers should also carefully review the risk factors described in documents the Company files from time to time with the Securities and Exchange Commission, including the Form 10-K for the year ended December 31, 1998. First Sierra Financial, Inc., headquartered in Houston, Texas, customizes lease financing products and offers servicing, consulting and technology solutions via on-lioe connections to its state-of-the-art computer system. The Company acquires, originates, sells and services equipment leases on a wide range of computers and peripherals, software, telecommunications, and diagnostic equipment as well as other specialized equipment for the health care, automotive, food and hospitality industries. First Sierra operates 28 offices in 14 states in the US and three locations in the UK. --30--flb/ny* CONTACT: First Sierra Financial, Inc., Houston Thomas Depping, CEO Sandy Ho, CFO Peter Tallas, SVP 713/221-8822 or Morgen-Walke Associates, Inc., New York Michele Katz/Ian Hirsch Press: Brian Maddox 212/850-5600 KEYWORD: TEXAS INDUSTRY KEYWORD: BANKING INTERACTIVE/MULTIMEDIA/INTERNET COMED Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Apr-14-1999 05:45 GMT Symbols: US;FSFH Source BW Business Wire ------ Previous