AUSTIN, Texas--(BUSINESS WIRE)--Kasasa® by BancVue, an award-winning financial technology and marketing services company, announced that its executive vice president, Coleman J. Clougherty, was appointed to both the Premara Financial, Inc. and Carolina Premier Bank Boards of Directors. His appointment is in conjunction with Premara’s recent capital raise, announced last month.
Prior to joining Kasasa by BancVue, Clougherty served as president and chief executive officer of Farmers Citizens Bank, a $375 million community bank in Ohio. A seasoned veteran with more than 36 years of community banking experience, he has held numerous senior level positions at other banks, including Heartland Bank, Armstrong County Trust and 1st Summit Bank. Bringing a keen understanding for banking, Clougherty will provide strategic direction and guidance to the boards.
Based in Charlotte, N.C., Premara Financial, Inc. is the bank holding company for Carolina Premier Bank, a provider of Kasasa-branded rewards checking accounts. Through the bank, Premara serves the communities of Charlotte in North Carolina; and Blacksburg, Rock Hill and Six Mile in South Carolina by offering a broad range of commercial and consumer banking services to small and medium-sized businesses, professionals and local residents.
“Kasasa’s leadership team is not only comprised of technologists, but of bankers who truly understand the competitive advantages and challenges community financial institutions face,” said Gabe Krajicek, CEO of Kasasa by BancVue. “This is further validated by Coleman’s appointment. By serving on Premara and Carolina Premier’s Boards of Directors, he will strengthen our industry’s collective objective to win the war against megabanks. We’re confident he will be a valuable asset to them.”
If all things were equal, two out of three U.S. adults would rather bank at a community financial institution than one of the big national banks, according to the 2015 Consumer Banking Insight (CBI) Study. As consumer sentiment of megabanks continues to remain poor, community financial institutions are at a significant advantage that needs to be leveraged: a sense of community and personal service. Unfortunately, while most consumers would prefer to bank with a CFI, they are hesitating to switch due to a false perception that they lack the products and services they want, such as free checking and rewards.
Kasasa provides free, rewards-based accounts that preserve strong value for the consumer. With a zero minimum balance, these accounts motivate members to engage more deeply with their CFI while also facilitating a member acquisition cost of about half that of free checking accounts. Kasasa has 344 community banks and credit unions currently offering its rewards checking and savings accounts to consumers across 47 states. The company is also ranked among the world’s largest FinTech providers, being recently included on the 2015 FinTech Forward 100 list of leading financial technology providers in the world.
About Premara Financial, Inc.
Headquartered in Charlotte, North Carolina, Premara Financial, Inc. was founded in August 2011 as a North Carolina corporation and bank holding company for Carolina Premier Bank, which was founded in August 2007. Through the Bank, Premara serves the communities of Charlotte in North Carolina; and Blacksburg, Rock Hill and Six Mile in South Carolina by offering a broad range of commercial and consumer banking services to small and medium-sized businesses, professionals and local residents. Shares of Premara trade on the OTC Bulletin Board under the symbol PARA. For more information about Premara and the Bank, please visit our website at www.carolinapremierbank.com.
About Kasasa by BancVue
Kasasa® by BancVue® is the innovative leader in branded, community-powered banking products proven to drive profit and growth for community financial institutions. Their flagship Kasasa® suite provides a comprehensive strategy that integrates breakthrough products with world-class marketing and unprecedented access to training, compliance, research, support resources and customized consulting. This full-circle approach gives local institutions the power and resources of a national product brand that enhances their unique, existing brand and service advantage. With nearly 750 clients, BancVue is helping community financial institutions thrive even as the industry landscape presents new challenges and competitors. Currently, Kasasa is the 7th largest banking branch network in the nation. For more information, please visit www.kasasa.com, or visit them on Twitter @BancVue and @Kasasa, Facebook, or LinkedIn.