Legacy Bank Gains Underwriting, Loan-Pricing Consistency
With Cypress Software’s Mark IV System

Automated Lending Software Helps Bank Manage Risk, Increase Profitability
Through Decreased Lending Losses and Higher Returns

NORTH RICHLAND HILLS, Texas – May 26, 2010 – Oklahoma-based Legacy Bank has chosen Cypress Software Systems LP’s Mark IV loan software to automate the bank’s lending processes, which has helped the bank enhance its lending efficiency and profitability.

Michael Chaloner, president of Legacy Bank, said that Mark IV has helped his institution standardize its lending policies and pricing across its 11 branches, while maintaining Legacy’s focus on more personal relationships with its customers.

“Our bank has been rapidly growing over the past decade, and we realized the need for a centralized loan processing system that would help us streamline our underwriting in a way that helps us deliver consistent loan decisions across our branches. Cypress’ Mark IV solution certainly met that need,” said Chaloner. “The lending consistency that Mark IV provides has helped us decrease our loan losses while increasing returns, thus providing enhanced risk management and increased profitability. That consistency also aids in our compliance efforts as well.”

Mark IV has also brought additional lending efficiency to Legacy Bank. The institution now trains its upper-level tellers and loan clerks to input and submit consumer loan applications, freeing the bank’s loan officers to work on more complex commercial loans. The software also interfaces with Legacy’s core system and doc prep solution to reduce data entry redundancy.

Steven Croft, senior vice president at Cypress Software Systems, said, “We’re excited to help Legacy Bank enhance its lending operations, while supporting their commitment to personal customer service. No matter the shape, size or location of a financial institution, we are ready and eager to help them create a lending solution that fits their specific needs, while supporting risk management and compliance efforts.”

In addition to Mark IV, the integrated solution includes the system’s NADA Automobile Valuation, BITI Geocoder, Housing Valuation and Flood modules, as well as the Core Import Interface and LaserPro Interface.

Founded in 1902, Legacy Bank today serves the Oklahoma market, including the Oklahoma City metropolitan area, with 175 employees across 11 branches. The community bank holds more than $450 million in assets, and is committed to providing its patrons with a small-town personality that is committed to personal service with modern conveniences.

Cypress’ Mark IV is a software platform that automates the consumer loan application and decisioning process, and helps institutions with risk management issues. With Mark IV, service associates electronically input application information while interviewing customers. The software then quickly retrieves credit reports, efficiently analyzes the capacity for repayment, and deploys the institution’s loan policies. The result is a fast, quality loan decision.

About Cypress Software Systems

Headquartered in North Richland Hills, Texas, USA, Cypress Software Systems LP is a leading developer of automated credit application decision support technology. Cypress provides community and regional banks, finance companies and credit unions with loan application decision and tracking tools equivalent to those used by the largest national lending institutions. Clients, nationwide and in 16 countries, use the company’s flagship products, Mark IV and BizMark, to quickly and consistently process consumer and small commercial loan applications. Cypress Mark IV offers a flexible, risk-based processing approach that includes tracking consumer loan applications from point of entry to point of decision. Cypress’ BizMark loan automation software processes commercial loan requests within a customer relationship management environment. Both products may be licensed in the bundled Cypress Suite and are offered in either an application service provider (ASP) or traditional business model. The company’s product line also includes AppMark, an ASP-only consumer lending solution for community banks with assets of $250 million or less.

Web site:
www.go-cypress.com

Industry Blog:
"Sixty Seconds With Cypress"

Media Contact:
Jeff Green
Michael A. Burns & Associates Inc.
(214) 521-8596
greenj@mbapr.com