Effective January 2, 2020, Bankers’ Bank of the West purchased an equity stake in Bankers’ Banc Investment Services, LLC, the holding company of First Bankers’ Banc Securities Inc. (FBBS). With this purchase, BBW is the fourth bankers’ bank to become a shareholder in the company.
FBBS has worked with more than 1,000 clients in some 25 states since its founding. The firm currently has offices in four states, primarily in the Midwest. Founded to serve community banks of all sizes and their investment portfolios, FBBS is in sync with the bankers’ bank philosophy of responsive service and partnership.
This move achieves BBW’s objective of augmenting our securities product offering with high-quality investment product and professional services, which include municipal and agency bond products, portfolio advisory, portfolio accounting, and ALM/IRR reporting. For FBBS, this mutually beneficial relationship creates expansion opportunities in the West.
It is important to note that BBW’s safekeeping services, which have been performed in-house for years, will be unaffected. They will stay in-house, and the process will be streamlined for BBW safekeeping clients who choose to trade through FBBS.
While we realize you likely have existing relationships with securities firms, we would appreciate your giving FBBS the opportunity to earn your business.
Duane Kerner, an FBBS investment officer, will work out of Bankers’ Bank of the West’s Denver offices. Duane plans on traveling with BBW’s correspondent team to introduce himself in the future. We look forward to sharing more information with you and wish you a prosperous year ahead.