5
funds, to make loans. These loans included consumer and
commercial term loans and letters of credit, as well as
residential and commercial mortgage loans. The banks also
provided services and products to customers in addition to the
loans. For consumer customers these services and products
included checking accounts, savings accounts, money market
accounts, safe deposit boxes, automated teller machine (ATM)
cards, overdraft insurance, credit protection insurance,
certified checks, wire transfers, and traveler's checks. For
commercial customers these services and products included,
deposit products, treasury management services, investment
services, employee benefit plan services, and commercial night
drop services.
At all times material, loan interest was the largest source
of revenue, and interest on deposits and other borrowings was the
largest expense for each bank. Each bank also derived revenues
and incurred expenses with respect to safe deposit boxes, ATM
cards, late payments on loans, wire transfers, and traveler's
checks.
Branches operated by the banks had what are commonly
referred to as "teller operations" and "platform operations".
The teller operation at a branch consisted of teller windows
staffed by tellers who, among other tasks, accepted deposits,
disbursed cash, and sold cashier's checks, traveler's checks, and
money orders. Tellers referred customers who were interested in
other bank products, such as loan and deposit products, to
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011