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Missouri Bank Invests Where Their Trust Is

HUTCHINSON, KS, 2004 – Brad Gregory, President of Bank of Bolivar in Missouri, and his Board think they know a good financial investment when they sees one: the people and companies their bank knows. Over the years, this bank with their main office in Bolivar, Missouri , has made business investments in several ventures with something in common: they're more Main Street than Wall Street, and they have a personal involvement with the bank and/or community. In other words, Brad and his Board aren't afraid to get financially involved or buy ownership where their strong sense of trust guides them, from businesses and people in the communities they serve, to most recently, the bank's data processing and technology provider, Data Center Inc. 

Says Gregory, "Lots of people choose their stock purchases and other investments based only on the numbers. But we also put a high value on integrity, quality and a company's personal connection with us. If we have personal experience, trust and confidence in the company and people, we don't feel like we're risking anything, and it has been successful for us. That's why stock purchases like DCI are such an easy decision for us."

 

This April, Bank of Bolivar purchased nearly 2% of the available outstanding stock in Data Center Inc. (DCI), a private, 40-year-old core processing and technology company. Headquartered in Hutchinson , Kansas ,  DCI is owned by bankers that are also customers like Bank of Bolivar. 

 

"We've been a DCI customer for 7 years, and they have been just great to us. Their products, service, and people are all just terrific. They're a tight-knit group and I liked the idea of having ownership in a company that is owned by the customers they serve. They treat their customers like family, and get them involved in the company."  

 

J.V. Lentell, DCI Chairman of the Board, said "The board was pleased to approve Bank of Bolivar's purchase of stock. We are fortunate and honored to have successful stockholders like Bank of Bolivar that believe enough in DCI to get involved in our future."

The business model really suits DCI well. John Jones , DCI President and CEO says, "Because we are privately owned by our customers, we aren't controlled by stock market trends, so we can really focus on what our customers need and be more aggressive with new, leading technology improvements." DCI put their focus to the test nine years ago by boldly moving away from mainframe technology to focus on their client-server core system, named iCore®, well ahead of their competition, and at a time when many thought the move to be risky.

 

Says Gregory, "DCI knows where they are going as a company and have proven they know what they are doing. And they really care about making sure their customers have the best products and services to offer to the communities they serve. Plus, we actually think their stock is undervalued. All around, it is just the kind of investment we like."

 

About DCI

DCI develops and delivers advanced bank technology products and services to community banks of all sizes, nationwide. Backed by 40 years of experience, DCI solutions include in-house and outsourced core processing with integrated, executive management and reporting systems, online decisioning tools, Internet banking, item processing, imaging, document imaging, credit and exceptions management, deposit forms management, teller/branch automation, network solutions, complete ATM/debit card processing and more.  www.datacenterinc.com.

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11/05/2004             

 

Media Contact:      

Mark Harris

Marketing Director

620.694.6771         

620.694.1150 fax

www.datacenterinc.com

 


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