BITS - Message from the CEO

Thank you to all of you who joined us for ConnectedLive, our second annual technology conference. We had another great event, thanks to your participation and feedback. We doubled our participation from our inaugural event, and we look forward to seeing more of you next year as we continue to grow.

CEO Corner

On October 3, 2018, FRB Board Governor Lael Brainard provided remarks on the faster payments initiative which is being undertaken by the Federal Reserve System and the private sector. Her remarks were supportive of a faster payments environment in which payments are executed in real time on a 24 x 7 x 365 basis. While her remarks were positive, there was little in the way of updates on a framework solution or the role the Federal Reserve System would play.

CEO Corner

We had an exciting first half of 2018 as we completed our merger and conversion. While the bulk of operational services have been consolidated, a couple of additional changes are still needed. This includes migrating former ACBB clients who utilize foreign check services to a new platform as well as vault services changes for former BBN clients. The latter includes a new portal, in addition to the way armored car services are provided. Customer training for these will be offered for the remainder of 2018.

CEO Corner

 By Jon Evans

On April 6, we implemented the conversion of our systems with those of BBN. While we experienced some problems at the time, operations should be flowing smoother now. There still need to be some changes made to XNET and for that, we seek your input, as our goal is to have an efficient, user friendly customer communications platform.

Merger Update

By Jon Evans President & CEO, ACBB

I wanted to provide everyone with an update on our merger with Bankers’ Bank Northeast (BBN) and what it will mean for our shareholders and customers.

2016 Results

By Jon Evans
President & CEO

ACBB reported net income (unaudited) of $3,951,103 for the period ending 12/31/16, yielding an ROAA of .67%.