http://www.michiganbankermag.com EAST LANSING — Michigan-based Dragon Payment Systems will partner with the Michigan Association of Community Bankers (MACB) to offer the Remote Deposit Capture – Check 21 Plus program to MACB member banks throughout the state of Michigan. This program provides convenience to member bank merchant customers by allowing them to deposit checks received directly into their bank accounts without leaving their places of business. According to Tom Rice, MACB Director of Member Services, “This is a turnkey program that allows banks to have systems installed in merchant locations and be operational in two to three weeks. Competitive set up costs and low per transaction fees allow member banks to bring this popular new service to their commercial customers affordably and securely. Our negotiated pricing structure allows an opportunity for fee income at prices that our member banks and their merchants can afford.” Copyright 2007, Michigan Banker Magazine http://www.michiganbankermag.com/mypodcast/updates/itn_365.gif http://www.michiganbankermag.com EAST LANSING — Michigan-based Dragon Payment Systems will partner with the Michigan Association of Community Bankers (MACB) to offer the Remote Deposit Capture – Check 21 Plus program to MACB member banks throughout the state of Michigan. This program provides convenience to member bank merchant customers by allowing them to deposit checks received directly into their bank accounts without leaving their places of business. According to Tom Rice, MACB Director of Member Services, “This is a turnkey program that allows banks to have systems installed in merchant locations and be operational in two to three weeks. Competitive set up costs and low per transaction fees allow member banks to bring this popular new service to their commercial customers affordably and securely. Our negotiated pricing structure allows an opportunity for fee income at prices that our member banks and their merchants can afford.” Reports indicated that economic activity weakened in September across all twelve Federal Reserve Districts. Several Districts also noted that their contacts had become more pessimistic about the economic outlook. Consumer spending decreased in most Districts, with declines reported in retailing, auto sales and tourism. Nearly all Districts commenting on nonfinancial service industries noted reduced activity. Manufacturing slowed in most Districts. Residential real estate markets remained weak, and commercial real estate activity slowed in many Districts. Credit conditions were characterized as being tight across the twelve Districts, with several reporting reduced credit availability for both financial and nonfinancial institutions. District reports on agriculture and natural resources were mostly positive, although adverse weather associated with hurricanes Ike and Gustav negatively affected the South and the Midwest. Inflationary pressures moderated a bit in September. While several Districts noted continuing pass-through of earlier price increases for metals, food and energy, most indicated that cost pressures had eased. Labor market conditions weakened in most Districts, and wage pressures remained limited. Several Districts reported lower capital spending or reductions in capital spending plans due to the high level of uncertainty about the economic outlook or concerns over the availability of credit. http://michiganbankermag.com Reports indicated that economic activity weakened in September across all twelve Federal Reserve Districts. Several Districts also noted that their contacts had become more pessimistic about the economic outlook. Consumer spending decreased in most Districts, with declines reported in retailing, auto sales and tourism. Nearly all Districts commenting on nonfinancial service industries noted reduced activity. Manufacturing slowed in most Districts. Residential real estate markets remained weak, and commercial real estate activity slowed in many Districts. Credit conditions were characterized as being tight across the twelve Districts, with several reporting reduced credit availability for both financial and nonfinancial institutions. District reports on agriculture and natural resources were mostly positive, although adverse weather associated with hurricanes Ike and Gustav negatively affected the South and the Midwest. Inflationary pressures moderated a bit in September. While several Districts noted continuing pass-through of earlier price increases for metals, food and energy, most indicated that cost pressures had eased. Labor market conditions weakened in most Districts, and wage pressures remained limited. Several Districts reported lower capital spending or reductions in capital spending plans due to the high level of uncertainty about the economic outlook or concerns over the availability of credit. LANSING – Main Street Bank in Northville was closed last month by the Michigan Office of Financial and Insurance Regulation (OFIR), and the Federal Deposit Insurance Corp. (FDIC) was named receiver. The continued downturn in the economy and the problems in the financial industry was more than the bank could fight against. Main Street Bank was the fourteenth bank closure to occur nationally this year. In Michigan , only nine banks, including Main Street Bank, have closed since 1970. Prior to the Main Street closing, the last Michigan bank to shutter its doors was New Century Bank in Shelby Township in 2002. OFIR Commissioner, Ken Ross, explained that all of the deposits of Main Street Bank have been acquired by Monroe Bank and Trust (MB&T) in Monroe, All deposit customers of Main Street are now depositors of Monroe Bank and Trust and have uninterrupted access to their funds. billperry@michiganbankermag.com http://michiganbankermag.com/mypodcast/updates/In The News.htm LANSING – Main Street Bank in Northville was closed last month by the Michigan Office of Financial and Insurance Regulation (OFIR), and the Federal Deposit Insurance Corp. (FDIC) was named receiver. The continued downturn in the economy and the problems in the financial industry was more than the bank could fight against. Main Street Bank was the fourteenth bank closure to occur nationally this year. In Michigan , only nine banks, including Main Street Bank, have closed since 1970. Prior to the Main Street closing, the last Michigan bank to shutter its doors was New Century Bank in Shelby Township in 2002. OFIR Commissioner, Ken Ross, explained that all of the deposits of Main Street Bank have been acquired by Monroe Bank and Trust (MB&T) in Monroe, All deposit customers of Main Street are now depositors of Monroe Bank and Trust and have uninterrupted access to their funds. LANSING — Irwin Financial Corp, with $5.9 billion in assets through 2007, and its subsidiaries, Irwin Union Bank and Trust Co. and Irwin Union Bank, F.S.B., are locally operated and managed banks that reach into ten Midwest and Western states including Michigan. Kurt Hanus, president of the bank in the Lansing Market, said Irwin Union has the spirit and independence of a community bank while offering the strength and resources of a national financial institution. In addition to Lansing , the bank also serves the Grand Rapids , Kalamazoo and Traverse City markets. Since first opening its doors in a dry goods store in Columbus , Indiana more than 137 years ago, Irwin Union Bank has a history that can be traced back to the early days of the Civil War. billperry@michiganbankermag.com http://michiganbankermag.com/mypodcast/updates/News Lead.htm LANSING — Irwin Financial Corp, with $5.9 billion in assets through 2007, and its subsidiaries, Irwin Union Bank and Trust Co. and Irwin Union Bank, F.S.B., are locally operated and managed banks that reach into ten Midwest and Western states including Michigan. Kurt Hanus, president of the bank in the Lansing Market, said Irwin Union has the spirit and independence of a community bank while offering the strength and resources of a national financial institution. In addition to Lansing , the bank also serves the Grand Rapids , Kalamazoo and Traverse City markets. Since first opening its doors in a dry goods store in Columbus , Indiana more than 137 years ago, Irwin Union Bank has a history that can be traced back to the early days of the Civil War. TROY — In the uncertain economic climate that we are all facing today, Crestmark finds itself well-positioned to help small- to medium-sized businesses acquire working capital and to allow traditional banks to retain customers that may be looking for additional financing. It’s something that Crestmark has prided itself on since they opened their doors: the ability to partner with banks to create win-win situations for both businesses and banks. “These are difficult times throughout the country, and particularly in Michigan . This unfortunate situation finds many banks struggling with a plethora of residential and commercial real estate with constantly declining values. This is impinging bank capital and impacting their ability to respond quickly to the credit needs of commercial customers,” said Crestmark Bank Chairman W. David Tull. “Since Crestmark provides exclusively working capital products, we have virtually no real estate-related assets. Our capital and appetite to lend remain strong.” billperry@michiganbankermag.com http://michiganbankermag.com/mypodcast/updates/Cover Story.htm TROY — In the uncertain economic climate that we are all facing today, Crestmark finds itself well-positioned to help small- to medium-sized businesses acquire working capital and to allow traditional banks to retain customers that may be looking for additional financing. It’s something that Crestmark has prided itself on since they opened their doors: the ability to partner with banks to create win-win situations for both businesses and banks. “These are difficult times throughout the country, and particularly in Michigan . This unfortunate situation finds many banks struggling with a plethora of residential and commercial real estate with constantly declining values. This is impinging bank capital and impacting their ability to respond quickly to the credit needs of commercial customers,” said Crestmark Bank Chairman W. David Tull. “Since Crestmark provides exclusively working capital products, we have virtually no real estate-related assets. Our capital and appetite to lend remain strong.” PNC Financial Services announced on October 24 that it is acquiring National City for about $5.58 billion and will receive $7.7 billion in capital from the federal government. PNC will pay $5.2 billion for National City through a stock transaction that values National City at about $2.23 per share. The remaining $384 million will be a cash payment to certain warrant holders. National City has been hit hard over the past year by the downturn in the mortgage market. Earlier this week, the Cleveland-based bank posted a quarterly loss of $5.15 billion, or $5.86 per share. PNC will also receive a $7.7 billion investment from the government, under its $750 billion bailout plan. billperry@michiganbankermag.com http://michiganbankermag.com/mypodcast/updates/Publisher's Column.htm PNC Financial Services announced on October 24 that it is acquiring National City for about $5.58 billion and will receive $7.7 billion in capital from the federal government. PNC will pay $5.2 billion for National City through a stock transaction that values National City at about $2.23 per share. The remaining $384 million will be a cash payment to certain warrant holders. National City has been hit hard over the past year by the downturn in the mortgage market. Earlier this week, the Cleveland-based bank posted a quarterly loss of $5.15 billion, or $5.86 per share. PNC will also receive a $7.7 billion investment from the government, under its $750 billion bailout plan.