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NetBank Rebrands RBMG, Inc.; RBMG Assumes NetBank Name; Will Operate as Division of the Bank.

ATLANTA -- NetBank, Inc. (Nasdaq: NTBK), a diversified financial services provider and parent company of NetBank(R) (www.netbank.com), today announced that its wholly owned subsidiary, RBMG, Inc., will operate as a division of the bank effective today. The Correspondent and Wholesale Lending divisions will now be known as NetBank Funding Services. The company's private-label mortgage processing division will continue to operate as Resource Mortgage Solutions(SM).

"Our goal has always been to be our customer's primary choice as a full-service financial services provider," said Douglas K. Freeman, chairman and CEO, NetBank, Inc. "In order for us to achieve that goal, it's critical that we present a seamless experience to the customer, and that includes having a consistent brand."

"Growing our customer base while cross-selling our array of financial products and services to our various customer segments is a primary focus," said Jerry McCoy, chief marketing, product and segmentation executive, NetBank, Inc. "Rebranding RBMG as NetBank will strengthen our cross-sell initiatives, especially within our mortgage business. Changing the name is also an important part of our efforts to build more brand awareness for NetBank. For example, we recently began testing some new advertising in key markets that highlights the depth and breadth of our services."

NetBank's conforming mortgage operations will continue to be based in Columbia, S.C.

About NetBank, Inc.

NetBank, Inc. (Nasdaq: NTBK) operates with a revolutionary business model through a diverse group of complementary financial services businesses that leverage technology for more efficient and cost effective delivery of services. Its primary areas of operation include personal and small business banking, retail and wholesale mortgage lending, and transaction processing. For more information, please visit www.netbank.com.
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Publication:Business Wire
Date:Oct 1, 2004
Words:279
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