HomeMy WebLinkAboutPSA - 1st Source Bank - Renewal of Banking ServicesILL
db
N
re
ik-
-now
;W.7 JN
I:v L
■
WIN
11
Tr-
!Q
1.
Cc: Tina Dougherty <doughertyt@lstsource.cam>
Subject: BE: 2-Year Banking Services Proposal Draft
John,
I hope you had a nice vacation. My family and I are going to Tokyo this spring break. I used to work there and we
haven't been back for 10 years, so we're really looking forward to it.
The PDIF paragraph represents the Indiana Board of Depositories' potential requirement of financial institutions in
Indiana to post collateral for public funds on deposit. They perform a credit analysis of approved depositories in Indiana
on a quarterly basis. They notify all approved depositories every quarter whether or not they are required to post
collateral for their deposits. If the Board stated that we are required to pledge collateral for 100% of all public funds on
deposit, we will need to work closely with our public fund relationships to manage the balances. We have contingencies
in place under this scenario to ensure that operations and liquidity are not significantly disrupted; however, we do want
to be prepared should something occur in the future to protect our customers and the bank.
With all that said, we do not view the PDIF collateral requirement scenario as probable. The Bank's financial standing is
strong and we have not had any issues with the Board's quarterly assessments. I'm just trying to ensure that we are
being as transparent as possible with the statement.
to discuss further, I'd be more than happy to connect with you.
Also, I will get a signed hard -copy of our proposal to you.
Thank you again,
Brett
From: Brett Bauer [mailto:bauerb lstsource.com]
Sent: Friday, March 17, 2017 12:53 PM
To: John Murphy <'mur h sauthbendin. av>
Cc: Tina Daugherty <dou hert t lstsource.com>
Subject: 2-Year Banking Services Proposal Draft
John,
I can't believe 2 years have passed so quickly, but it's that time again for a new proposal to renew banking services. Tina
and I called earlier and left a message, but 1 wanted to get a draft of our proposal to you (attached) for your review. if
you agree with the details, please left me know and I will sign it and have a hardcopy delivered to you as soon as possible
for your final review and consideration.
We really appreciate all of your business and we hope that you will consider our proposal for another 2 years of
continued banking services.
Thank you again.
Sincerely,
Brett Bauer
Senior Vice President
Funds Management
v
a
a
ar
9 421 @ mlqvGo�