Deal Makes Elan Largest Manager Of Cash For ATMs And ATM ISOs.

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Elan Financial Services, a St. Paul, Minn.-based processor and driver of ATM transactions, will become the nation's largest cash
manager for ATMs, kiosks and ATM ISOs with the purchase Tuesday of Palm Desert
National Bank's Electronic Banking Solutions division.
 U.S. Bancorp, Elan Financial's parent, agreed to buy the division from Palm Desert,
Calif.-based Palm Desert Bank for an undisclosed price, Gary Staub, Elan Financial
executive vice president and head of strategic initiatives, tells ATM&Debit News.
With the purchase of Palm Desert Bank's Electronic Banking Solutions division, Elan
Financial will manage $1.4 billion in cash for ATMs, kiosks and ATM ISOs, Staub says.
 Elan Financial processes transactions for 38,000 to 40,000 ATMs in addition to driving transactions for banks, retailers, ATMs, and ATM ISOs.The company also provides cash forecasting and vault-cash services for ATMs and ATM ISOs. Palm Desert Bank Electronic Banking Solutions serves 50 businesses nationwide. The two parties scheduled the deal to close in the third quarter.