M&I Data Services Inc., a subsidiary of Marshall & Ilsley Corp., a $12.5 billion bank holding company based in Milwaukee, signed two data processing contracts.
Pinnacle Banc Group Inc., Oak Brook, Ill., selected the company for all core processing services. In addition, Pinnacle will use M&I's branch automation and information and reporting products.
The bank is scheduled to begin converting to M&I's system next spring.
Pinnacle, a three-bank holding company with $700 million of assets, now uses data processing services from three firms. Processing at the $500 million-asset lead bank is now handled by Electronic Data Systems Inc. Pinnacle Bank of the Quad Cities, with $100 million of assets, uses a Fiserv data center. Batavia (Ill.) Savings Bank, with $70 million in assets, is processed by On-Line Financial in Oak Brook, Ill.
Mercantile Bancorp., St. Louis, has licensed M&I's Integrated Banking System software. The $12 billion-asset bank holding company now uses software developed in house. Conversions at the 41 affiliate banks are scheduled to begin in 1995.
