ITLA Capital Corp. in La Jolla, Calif., has signed a deal that gives its customers free use of Wells Fargo & Co.'s branches and automated teller machines.
The agreement was announced Friday.
Customers at Imperial Capital Bank, a unit of the $3 billion-asset ITLA, will be able to use Wells' networks to make deposits to and withdrawals from their Imperial accounts.
Imperial has seven branches in California but 27 loan production offices throughout the country.
The company said that it hopes its deal with Wells will attract deposits from these borrowers.
Wells is one of a handful of large banking companies that have opened their ATM and/or branch networks to smaller banks in the last few years. Others that have done so include KeyCorp, U.S. Bancorp, M&T Bank Corp., and Huntington Bancshares Inc.
