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Orlando, Fla., (January 15, 2008) --- DiCom Software, a leading provider of credit risk management technology solutions for financial institutions, announced today that Peoples State Bank has licensed DiCom’s full suite of credit quality automation solutions which consists of three key applications: Portfolio Analysis, Portfolio Management and LRS Enterprise.
Headquartered in Many, Louisiana in the parish of Sabine, Peoples State Bank is a 14-branch, $437 million community bank founded in 1913. According to Peoples State Bank President and CEO John J. Blake III, the decision to automate their commercial loan operations and replace manual, labor-intensive processes such as spreadsheets was an important one for managing risk within the bank.
“You don’t have to look far in today’s financial world to understand how critically important it is to have a system which identifies the risks associated with your loan portfolio,” Blake said. What every bank wants to avoid is that surprise in the lending portfolio. As the old saying goes, ‘Your first loss is your least loss’ so the earlier you can identify your next loss the better. DiCom will provide us with the proactive solution necessary to stay ahead of that next potential loss.”
Blake noted that DiCom met all its key selection criteria. Specifically, they wanted the ability to drill down and identify the embedded risk associated with different industries, sectors, and homogeneous groups of loans. They also wanted something very easy to use that would streamline monthly ongoing review of new credits. Finally, they wanted a comprehensive solution that would enable them to more effectively manage risk across their lending portfolio, yet without having to hire additional staff. “In today’s community bank environment, it is all about working smarter, working quick, and with less staff. DiCom was the perfect fit in this regard as well.”
Blake continued, “As a third generation banker I will never forgot the words my dad related to me when I first started in banking. He said that lending is the most profitable thing we do but if not properly managed it can lead to disaster quickly. He made it clear that it is our depositor’s money we are loaning, so as bankers, it is our responsibility to always manage the loan portfolio in the most safe and prudent manner possible.’ The DiCom Solution will allow us to do just that.”
About Peoples State Bank
Founded in 1913, People’s State Bank is a community bank located in Many, Louisiana. With assets of approximately $437 million and 15 branches across the western parishes of Louisiana and Texas, Peoples State Bank is a community-focused financial institution with a long history of banking excellence, innovation and community leadership.
About DiCom Software
DiCom Software is a leading provider of credit risk management technology solutions for financial institutions nationwide. The company’s product suite, DiCom Credit Quality Solution (CQS), delivers tools to efficiently analyze, review and manage loan portfolios while minimizing risk. DiCom’s solutions are the preferred choice of today’s best credit risk personnel at banks across the U.S. ranging in size from $500 million to more than $100 billion in assets. For more information, visit www.dicomsoftware.com.
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