Alabama National BanCorporation Announces Expansion of Investment Service Offerings.Business Editors BIRMINGHAM, Ala.--(BUSINESS WIRE)--April 13, 2000 Alabama National BanCorporation (Nasdaq/NM:ALAB ALAB Atomic Safety and Licensing Appeal Board ) (ANB ANB American National Biography ANB American National Bank ANB Alaska Native Brotherhood ANB Arab National Bank ANb Agoraphobic Nosebleed (band) ANB Amarillo National Bank (Texas) ) announced the expansion of investment products and services offered through NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. Securities, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of ANB's lead bank, National Bank of Commerce of Birmingham. Professional Asset Management Consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects Program (the ProAM Program) The ProAM Program offers clients financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal of NBC Securities and independent professional money managers using individual securities as the underlying investments in a client's portfolio. NBC Securities also provides certain administrative services including the execution of securities transactions, custody of investments, monthly account statements and quarterly performance reports. The ProAM Program begins with personal discussions between the client and an NBC Securities financial consultant in which an investor profile and questionnaire is prepared about the client's current financial situation, income needs, risk tolerances, desired investment returns, future expenses, retirement needs and other information to accurately determine the client's investment objectives. Based on this information, NBC Securities develops a recommended asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. model and an investment strategy using independent professional investment managers (sub-advisers) who participate in the ProAM Program. The minimum account size for ProAM Program accounts is normally $100,000. Clients in the ProAM Program pay an asset-based management fee, commonly referred to as a wrap fee, in lieu of commissions on securities transactions. Asset Management Account ANB's new Asset Management Account (AMA (Automatic Message Accounting) The recording and reporting of telephone calls within a telephone system. It includes the calling and called parties and start and stop times of the call. ) provides customers a convenient way to manage their banking and investing needs. The AMA combines an FDIC-insured checking account with an NBC Securities brokerage account Brokerage Account An arrangement between an investor and a licensed brokerage firm that allows the investor to deposit funds with the firm and place investment orders through the brokerage, which then carries out the transactions on the investor's behalf. to allow ease in managing cash and investments while earning a premium money market rate--all for no monthly or annual fees. With a total of $5,000 or more in checking and securities investments, AMA customers earn a premium money market rate and receive unlimited check writing and Internet Banking with bill payment at no charge. The AMA offers customers access to a personal, full-service broker Full-Service Broker A broker that provides a large variety of services to its clients, including research and advice, retirement planning, tax tips, and much more. Of course, this all comes at a price, as commissions at full-service brokerages are much higher than those at discount who can provide independent research on companies and securities markets around the world. Customers may invest in hundreds of mutual funds managed by some of the nation's most experienced investment experts--as well as stocks, bonds and annuities. For efficient account management, AMA customers receive one convenient combined monthly statement listing checking and investment portfolio activity. "We have developed what I believe is the premier product in the banking and brokerage industry today," said John H. Holcomb, III, chairman and chief executive officer of ANB. "AMA customers, through their combined bank and brokerage account, have the ability to conduct trades, access a financial adviser, and receive a combined statement. By using the Internet Banking component of the AMA, customers can also view images of cleared checks from their personal computer." Online Trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. In addition to full brokerage services, NBC Securities, Inc. offers clients the use of real-time, online trading and account information services See Information Systems. . Through its Web site, www.nbcsecurities.com, clients can view their investment accounts and access real-time portfolio updates and stock quotes. Clients have the option of investing using the advice of a financial consultant or directing their own investments and trading online. ANB is a $1.9 billion bank holding company operating 47 locations through ten bank subsidiaries in Alabama, Florida and Georgia. The lead bank subsidiary for the holding company is Birmingham-based National Bank of Commerce (NBC). Other Alabama subsidiaries include: First American Bank First American Bank is the name of numerous banks operating separately in each state of the United States. Please refer to the individual articles for more information on each bank. in Decatur; First Citizens Bank in Talladega; Bank of Dadeville; Alabama Exchange Bank in Tuskegee and First Gulf Bank in Baldwin County. Florida subsidiaries are: Citizens & Peoples Bank, N.A. in Pensacola; Community Bank of Naples, N.A. and Public Bank in metropolitan Orlando. ANB has one subsidiary in Georgia, Georgia State Bank in metropolitan Atlanta. ANB provides full banking services to individuals and businesses. Brokerage services are provided to customers through NBC's wholly owned subsidiary, NBC Securities, Inc. Investments are not bank guaranteed, not FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). insured and may lose value. Insurance services are provided through Rankin Insurance, Inc., a wholly owned subsidiary of First American Bank. ANB common stock is traded on the NASDAQ/National Market System under the symbol "ALAB." Statements contained in this press release which are not historical facts are forward-looking statements. In addition, ANB, through its senior management, may make from time to time forward-looking public statements concerning the matters described herein. Such forward-looking statements are necessarily estimates reflecting the best judgment of ANB's senior management based upon current information and involve a number of risks and uncertainties. Certain factors which could affect the accuracy of such forward-looking statements are identified in the public filings made by ANB with the Securities and Exchange Commission, and forward-looking statements contained in this press release or in other public statements of ANB or its senior management should be considered in light of those factors. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements. |
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