A community bank holding company in California that just four years ago did not have a single ATM-and did not want one-is now counting on the fee- laden machines to drive its earnings.

The parent of Palm Desert National Bank, Palm Desert Investments, recently filed an application with the Federal Reserve Bank of San Francisco to broker sales of automated teller machines. The $93.3 million- asset company could also run the machines, which would be located in hotels, casinos, and other nonbank sites.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.