Midwest Payment Systems, a subsidiary of Fifth Third Bancorp, announced that it will provide electronic funds transfer services to Sterling Federal Bank, Sterling Ill.
Midwest Payment is an unbranded processor and provides gateway services to electronic funds transfer networks.
The deal will help $213 million-asset Fifth Third continue its growth activity outside the Chicago area in western Illinois.
Sterling Bank chose Midwest Payment because of competitive pricing, said the bank's president Curtis Dahlgren.
Midwest Payment processes more than 1.7 billion automated teller machine and point of sale transactions per year for more than 1,100 financial institutions and 18,000 merchants worldwide.