FOR IMMEDIATE RELEASE
HERNDON, Va., April 25, 2012 – Nacha -- The Electronic Payments Association -- announced today the addition of State Bank and Trust Company as a Direct Financial Institution Member. State Bank, a subsidiary of State Bank Financial Corporation (NASDAQ: STBZ), has been named one of the country’s best-performing community banks in 2010 and 2011 and has locations in Metro Atlanta and Middle Georgia.
Nacha oversees the Automated Clearing House (ACH) Network, the backbone for the electronic movement of money and data. Utilized by all types of financial institutions, the ACH Network serves as a safe, secure, and reliable network for direct account-to-account consumer, business, and government payments, and annually facilitates billions of Direct Deposit via ACH and Direct Payment via ACH transactions.
“We are very pleased to become a direct member of Nacha and look forward to working with the association on ACH rules and innovative electronic payments solutions,” said Dan Speight, State Bank’s Vice Chairman and Chief Operating Officer. “We value the opportunities presented by direct Nacha membership, including the opportunity to contribute to the future of the ACH Network.”
As a direct financial institution member, State Bank benefits from opportunities to be directly engaged in the development of the ACH Network and the Nacha Operating Rules. State Bank may vote directly on Rules ballots, nominate candidates to serve on Nacha’s Board of Directors, and participate in Nacha Councils, tasks forces, committees, and workgroups. Members also actively participate in Nacha efforts to shape regulatory, legislative, and ACH policies, gain up-to-date information on strategic industry issues, and increase their financial institutions’ visibility and exposure.
“On behalf of Nacha and its members, I welcome State Bank to the Nacha family,” said Nacha president and CEO Janet O. Estep. “We look forward to working with them and the industry at large to further explore dynamic solutions on the ACH Network.”
Nacha now has 47 direct members, consisting of 30 financial institutions and 17 regional payment associations. In addition to State Bank, member financial institutions include American Express Centurion Bank, Bank of America Merrill Lynch, BB&T, BMO Harris Bank, BNY Mellon, Capital One, Citibank N.A., Discover Financial Services, Inc., Fifth Third Bank, First PREMIER Bank, Huntington National Bank, J.P. Morgan, KeyBank, M&T, Merrick Bank Corporation, MetaBank, Navy Federal Credit Union, PNC Bank, RBS – Citizens Bank, Regions Financial Corp., Silicon Valley Bank, SunTrust, Synovus Financial Corporation, TCF National Bank, TD Bank, N.A., The Bancorp Bank, U.S. Bank, Wells Fargo, and Zions Bancorporation.
Nacha — The Electronic Payments Association
Nacha manages the development, administration, and governance of the ACH Network, the backbone for the electronic movement of money and data. The ACH Network provides a safe, secure, and reliable network for direct account-to-account consumer, business, and government payments. Annually, it facilitates billions of Direct Deposit via ACH and Direct Payment via ACH transactions. Used by all types of financial institutions, the ACH Network is governed by the fair and equitable Nacha Operating Rules, which guide risk management and create payment certainty for all participants. As a not-for-profit association, Nacha represents more than 10,000 financial institutions via 17 regional payments associations and direct membership. Through its industry councils and forums, Nacha brings together payments system stakeholders to foster dialogue and innovation to strengthen the ACH Network. To learn more, please visit www.nacha.org, www.electronicpayments.org, www.payitgreen.org, and http://direct.nacha.org.
About State Bank Financial Corporation and State Bank and Trust Company
State Bank Financial Corporation (NASDAQ:STBZ) is the holding company for State Bank and Trust Company, one of Georgia’s best-capitalized banks, with approximately $2.75 billion in assets as of December 31, 2011. State Bank has locations in Metro Atlanta and Middle Georgia. State Bank Financial Corporation is headquartered in Atlanta and State Bank and Trust Company is headquartered in Macon, Georgia.
State Bank was named the best performing community bank in the United States for 2011 by SNL Financial LC for banks between $500 million and $5 billion in assets and also the top performing bank in the U.S. by Bank Director magazine’s 2011 Bank Performance Scorecard, a ranking of the 150 largest U.S. publicly-traded banks and thrifts based on 2010 calendar-year financials.
Since 2009 State Bank has been an active acquirer of the assets and deposits of failed banks in Metro Atlanta and Middle Georgia. To date, State Bank has completed 12 transactions facilitated by the Federal Deposit Insurance Corporation.
To learn more about State Bank, visit www.statebt.com.
FOR IMMEDIATE RELEASE