Planters Bank Helps Ensure Compliance, Lending Consistency
With Cypress Software’s Mark IV Solution

Automated Lending Software Gives Bank the Consistency
and Reporting Required to Help Satisfy Needs of Federal Examiners 

NORTH RICHLAND HILLS, Texas – March 1, 2010 – Planters Bank of Indianola, Miss. has chosen Cypress Software Systems LP’s Mark IV loan software to automate the bank’s lending processes and enhance compliance and risk management efforts. 

Alan Hargett, executive vice president and chief credit officer at Planters Bank, said his institution was looking for a technology solution that could bring consistency and uniformity to their lending processes and help them meet the requirements of new and forthcoming government regulations. After a search of industry vendors, Planters Bank chose Cypress.

“As the banking and finance industries undergo unprecedented change, it’s important that institutions stay on top of the latest regulations and technology trends,” said Steven Croft, senior vice president of Cypress. “We created Cypress University as a resource for our clients and non-clients alike to learn how to efficiently and effectively navigate through the confusing and continuously evolving industry issues. The classes will also assist our clients to gain additional training and enhanced insight into our products, as well as being fully prepared for the numerous industry regulations and changes that are being implemented.”

“Compliance was our primary underlying need for an automated lending system, and Cypress offered the most user-friendly, community bank-oriented solution,” said Hargett. “Mark IV has given us underwriting and pricing conformity across our entire bank. Those features, combined with the software’s inherent reporting functions, give us great confidence moving forward as we continue to enhance our loan operations and ride the waves of compliance.”

In addition to Mark IV, the integrated solution includes the updated Mark IV Mortgage Processor Module that helps Planters Bank meet current RESPA requirements. The system also includes the NADA Automobile Valuation and BITI Geocoder modules, as well as the Core Import Interface for Mark IV.

Founded in 1920, Planters Bank is a community bank offering a full range of financial services to its business and consumer clients. The institution operates 14 branches in nine locations across Mississippi and holds more than $550 million in assets.

“Planters Bank is a perfect illustration of the positive impact that our consumer and small business lending solutions can have on a financial institution’s lending operations – no matter their shape or size,” said Stephen G. Sargent, president and chief executive officer of Cypress Software Systems. “Whether it’s a large credit union or single-branch community bank, Cypress is ready to help them map out their lending needs – from operational efficiency to compliance to risk management – and meet those challenges head-on.”

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