- Stephanie Honan 513.534.6957
Merchants & Southern Bank Signs with Fifth Third Processing Solutions
Merchants & Southern Bank located in Gainesville, Florida, has signed a contract with Fifth Third Processing Solutions for electronic fund transfer services, including debit and ATM card processing, card production and ATM terminal driving. Merchants & Southern Bank has over $300 million in assets and serves its customers with 11 branch locations and 12 ATMs.
"A comparative analysis of current versus future costs, when combined with significant bank and customer service improvements, made this decision easy,” said Herbert Clark, senior vice president and chief financial officer for Merchants & Southern Bank. “Moreover, Fifth Third representatives were well-aware of the business conditions we face and committed to building a customized processing package based on our competitive needs. We look forward to increased operational efficiency and enhanced customer satisfaction.”
“Our delivery of first-rate products and services and our ability to develop and execute customer-focused solutions enable Fifth Third to partner with premier financial institutions like Merchants & Southern Bank throughout the country,” said Angela Brown, senior vice president and general manager for Financial Institution Services, Fifth Third Processing Solutions. “We look forward to the opportunity to serve Merchants & Southern Bank and its customers.”
Fifth Third Processing Solutions processes over 21 billion ATM and POS transactions per year for more than 2,300 financial institutions and over 143,947 retail locations worldwide, including the Armed Forces Financial Network (AFFN), First Niagara Financial Group, Sovereign Bank, The Kroger Co., AutoZone, Abercrombie & Fitch, Nordstrom, Inc. and The Finish Line. Annually, Fifth Third processes $148.1 billion in credit card sales. According to The Nilson Report (March 2007), Fifth Third Bank is the fourth largest bankcard acquirer.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $99.8 billion in assets, operates 18 affiliates with 1,166 full-service Banking Centers, including 109 Bank Mart® locations open seven days a week inside select grocery stores and 2,120 Jeanie® ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania and Missouri. Fifth Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisors and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2007, has $225 billion in assets under care, of which it managed $34 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded through the NASDAQ® National Global Select Market System under the symbol “FITB.”