SOURCE: BancVue

BancVue

February 28, 2012 14:23 ET

BancVue Completes Sale of $120 MM Credit Card Portfolio to First Arkansas Bank & Trust

Strategic Transaction to Provide Resources for Expansion of Kasasa Network

AUSTIN, TX--(Marketwire - Feb 28, 2012) - BancVue (www.BancVue.com), the leading provider of innovative products, dynamic marketing, and data-driven consulting solutions to community financial institutions around the country, today announced it has completed sale of the firm's holdings in BV Card Assets, LLC to First Arkansas Bank & Trust.

Atlanta-based BV Card Assets, previously a majority-owned subsidiary of BancVue, was formed in September 2010 prior to BancVue's purchase of the Silverton credit card portfolio from the FDIC.

According to Gabe Krajicek, BancVue's Chief Executive Officer, "Closing on the sale of the $120 million dollar portfolio was a strategic decision for the company. It will allow us to focus on building what is becoming the most powerful brand in banking by growing the Kasasa network. Marketing the Kasasa brand of innovative consumer facing products has proven to be very successful in empowering community banks and credit unions to win the war against the megabanks, which is our core mission. This transaction will enable us to accelerate the execution of that strategy."

First Arkansas Bank & Trust, headquartered in Jacksonville, Arkansas, has 27 locations across the state. According to Larry Wilson, the family-owned bank's Chairman, President, and CEO, "...the executive management team, led by Wayne Johnson currently in place for BV Card Assets will not change and the operation will remain in Atlanta."

"They're delivering great product and great service to existing customers," says Mr. Wilson, "and we want to build on the foundation."

Austin-based BancVue, recognized last year by Fast Company as one of the 10 Most Innovative Companies in Finance, was one of an elite group of financial technology companies to be included in Bank Technology News FinTech 100 in 2011. The firm has been bringing game-changing innovations to the marketplace since its founding in 2004, including Kasasa®, a dynamic suite of banking solutions that make a difference with innovative accounts and money management tools.

About BancVue
BancVue is the leading provider of innovative products, world-class marketing, and data-driven consulting solutions to community financial institutions across the U.S. Featuring Kasasa®, a dynamic suite of banking solutions that make a difference with innovative accounts and money management tools, BancVue products are designed to deliver controlled new account growth, higher profitability, and increased customer retention. Today serving nearly 1300 community banks and credit unions around the country, BancVue is empowering its clients to compete in and win the war against megabanks. For more information on BancVue, visit www.bancvue.com.

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