We are pleased to announce that Calumet Bank will merge with Colony Bank in 2019. Click here to read the announcement by Colony Bank.
FDIC Insurance Coverage Over $250K – All in One Place
With Calumet Bank and the Insured Cash Sweep® (ICS) service, you can earn interest on private funds placed into money market deposit accounts and have a peace of mind knowing that your ICS funds are eligible for multi-million-dollar FDIC insurance.
With ICS, You Can:
• Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
• Earn interest. Put excess cash balances to work by placing funds into money market deposit accounts and earn competitive rates of interest on your funds. Enjoy daily liquidity in your transaction account at our bank and withdraw ICS funds up to six times per month.
• Save time. By providing access to FDIC insurance through a single bank relationship with Calumet Bank. Forego opening accounts under different insurable capacities or managing multiple bank relationships. You can check your ICS balances and track other important information of interest to you online, 24/7, through a specialty designated Depositor Control Panel. Your confidential information remains protected.
• Support your community. Feel good knowing that the full amount of your funds placed through ICS can stay local to support lending opportunities that build a stronger community.
How ICS Works:
When Calumet Bank places funds for you using ICS, your deposit is sent from your transaction account at our bank into deposit accounts at other ICS Network banks in amounts below the standard FDIC insurance maximum ($250,000). This makes your funds eligible for FDIC protection. As a result, you can access FDIC insurance coverage from many institutions while working directly with just us, an institution you already know and trust.
It’s that easy.
Calumet Bank is pleased to announce the opening our first Loan Production Office in the Atlanta market. Calumet Bank has had a presence in the Atlanta market since bringing Weare Gratwick, a seasoned Atlanta commercial banker on board as Regional President in late 2016. The office is located in Atlanta Tech Park, a technology incubator located at 107 Technology Parkway in Peachtree Corners, GA. The facility features a video podcasting studio, private offices, events space and a 100-person auditorium.
Calumet Bank is proud to announce the promotion of Tracy Van Norman to the position of Columbus City President. Van Norman joined the Bank in 2017 as a commercial lender, and will now assume the position as market leader for Columbus.
LBC Bancshares, parent company of Calumet Bank, announced the unaudited financial results for the second quarter of 2018. The company reported net income of $585 thousand, or $0.37 thousand per diluted share, for the second quarter of 2018, compared with $309 thousand, or $0.19 per diluted share for the second quarter 2017. Return on average assets was 1.18% for the second quarter of 2018 as compared to .73% for the second quarter of 2017.
Mike Phillips, Chief Strategy Officer and EVP, recently wrote an article on the importance of management accounting expertise within small and medium-sized enterprises (SMEs). Click here to read the article.