ST. PETERSBURG, Fla.,
March 4, 2015 /PRNewswire/ -- C1 Bank
(NYSE: BNK) and CenterState Bank of Florida, N.A. announced today a partnership
whereby CenterState, through its Correspondent Division, would
provide analytics, launch and market C1 Lab's Smart Loan Express to
financial institutions across the country. Smart Loan Express
helps bank lenders and management teams better understand and
manage the risk-adjusted return on equity of a new loan and
relationship through an easy to use online, mobile or tablet
interface. C1 Labs is the in-house development team of C1 Bank
focused on rapid fin-tech application development.
C1 Bank has used Smart Loan Express since 2013, running over
4,000 simulations to date, and has seen an improvement in both
production and profitability. The Smart Loan Express asks the user
to input basic information about the proposed loan and then
calculates the risk-adjusted profitability of that loan including
deposits and fees. C1 Bank's lender incentive program is linked to
the Smart Loan Express output so that the incentive structure
favors those loans with a higher risk-adjusted incremental return
on equity.
"We empower our lenders to shake hands on price, so Smart Loan
Express is essentially a live term sheet driven by the results of
the C1 Labs Smart Loan Calculator," said C1 Bank President, CEO,
and Smart Loan Express inventor Trevor
Burgess. "This is a modern day version of the rate-sheet,
taking into account the dynamics of each individual deal overlaying
management's objectives for portfolio composition," said
Trevor.
"Bank relationships are too complicated to price by gut
anymore," said Chris Nichols, the
Chief Strategy Officer for Center State Bank. "Smart Loan
Express is state-of-the-art when it comes to bank analytics as the
artificial intelligence makes context-sensitive suggestions, as
well as gives the lender the probability of approval based on the
bank's past credit approval history - the end result is more lender
confidence and greater bank profitability," said Chris.
Smart Loan Express is a secure, cloud-based application that is
customized for each bank and is priced as low as $80 per month. Coming in both a web and app
version, Smart Loan Express has no upfront or set up fees plus can
be set up for a bank in minutes as opposed to weeks. More
information can be found at www.SmartLoanExpress.com.
About C1 Bank
C1 Bank is a bank by entrepreneurs for entrepreneurs that serves
thousands of sophisticated savers and borrowers from 30 locations
across Florida and online at
www.C1Bank.com. C1 Bank was ranked the sixth fastest-growing bank
in the United States, as having
the "Coolest Office Space," and ranked in the 2014 Inc. 5000.
C1 Bank President & CEO, Trevor
Burgess, was named the American Banker 2014 Community Banker
of the Year and won Ernst & Young Entrepreneur Of The Year®
2013 in Florida in the Financial
Services category. C1 Bank is a leader in business loans, SBA
loan programs, portfolio residential mortgages, association and
treasury services, and a wide suite of checking and savings
depository products. C1 Labs is a division of the bank
focused on developing applications to enhance client relationships
and improve bank productivity. C1 Bank is the Official Bank
of the Tampa Bay Buccaneers, the Official Bank of the Outback Bowl,
the Official Bank of the Tampa Bay Rowdies and a Corporate Partner
of the Miami HEAT. On August 14,
2014, C1 Financial, Inc., the parent of C1 Bank, became a
publicly traded company on the New York Stock Exchange under the
ticker symbol "BNK."
About CenterState Bank
Headquartered in Winter Haven,
Florida, between Orlando
and Tampa, CenterState provides a
range of consumer and commercial banking services, including trust
services. These services are provided to individuals,
businesses and industries throughout Central, Southeastern and
Northeastern Florida.
The Company, through its Correspondent Division, also provides
research; an automated SBA platform called SmartBiz; clearing/cash
management; fixed income; loan sales services; hedging; foreign
exchange; fed funds purchased products; safekeeping; proprietary
bond accounting; asset/liability; strategic planning and consulting
services to financial institutions located throughout the United States.
Smart Loan Express is a registered trademark of C1 Bank.
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SOURCE C1 Bank