The Bisys Group Inc. has signed multiyear outsourcing agreements with two banks: Pacific Southwest Bank, a $1.5 billion-asset institution in Corpus Christi, Tex., and the Rahway Savings Institution, a $280 million-asset bank in Rahway, N.J.
Both banks will be using Bisys' Totalplus system, which includes software, hardware, networks, telecommunications, and complete support services. Both banks will convert this fall.
Pacific Southwest Bank represents a consolidation of eight savings and loans whose assets have grown from $900 million when first organized together to $1.5 billion. Pacific Southwest has operations in Central and South Texas. The bank recently acquired branches in Texas' Rio Grande Valley.
"Pacific southwest is an organization intent on growth," said John Rodgers, executive vice president of Houston-based Bisys. "They're a large savings bank charter interested in becoming a commercial bank by buying commercial institutions."
Mr. Rodgers said that one of the reasons why Pacific Southwest chose Bisys was that Totalplus supports savings and loan products as well as commercial banking products.
-- Deidre Sullivan