BCT-Bank of Charles Town automates commercial loans with Jack Henry


CITY OF CHARLES, W.Va., January 5, 2022 / PRNewswire / – (OTC: PTBS) – BCT-Bank of City of Charles, also known as The Community’s Bank, today announced that it will digitize its commercial lending experience through a collaboration with Jacques Henri & Associates, Inc. (NASDAQ: JKHY).

BCT has grown rapidly in recent years after investing heavily in digital banking solutions, namely their website, digital wallets and mobile deposit functionality. Yet the bank’s old loan origination system had a manual background process, resulting in a painful experience for borrowers and employees and a long turnaround time for loans. To continue to grow, BCT needed a loan origination solution with a superior customer interface and a transparent process, one that would increase efficiency, improve the customer experience, streamline internal work efforts, and ultimately eliminate customer disruption. unnecessary costs. With Jacques Henri, the bank benefits from a centralized and flexible solution that allows lenders to make an informed credit risk decision, track and monitor individual loans as well as manage portfolios.

Anthony J. Ranghelli, Vice President and Technical Director of BCT, explained: “We have selected Jack Henry lending platform because it supports our broader digital banking strategy. The platform will help us grow with scalability and efficiency while improving everyone’s experience. Our immediate goal for the next few years is to geographically expand our digital loan footprint to support businesses in neighboring communities and diversify our portfolio. We selected Jacques Henri to position us for success and help us break down physical barriers. “

The solution’s fully digital loan portfolio creation, analysis, review and management workflows will enable BCT to better serve clients and small and medium businesses in their communities and beyond. In addition, mobile capabilities will allow the bank to meet customers wherever they are by giving them the ability to bank and apply for loans at their own pace. Ranghelli added “With Jack Henry, we will be better equipped to help small and medium businesses in our community and increase our support for niche industries like dental and law firms, a top priority for our bank. This extended relationship will not only streamline efficiency with customers, but will also improve internal processes, as our employees will benefit from cross-training and have a single point of contact with the supplier, resulting in a supplier experience. coherent and greater continuity. “

Gary lewis, Managing Director of Jack Henry Lending, commented, “The digitalization of the banking industry is happening rapidly, and consumers expect their financial institutions to follow and continue to serve them on their financial journeys. By making strategic investments in digital solutions now, institutions like Banque de City of Charles will be better positioned to serve their customers and communities in the future and to differentiate themselves from the competition. Our loan system reinvigorates the lending process by providing lenders and borrowers with an easy-to-use, fast and flexible solution, which is exactly what customers are looking for today. “

About the BCT-Banque de City of Charles

Founded in 1871 and celebrating its 150th anniversary, the BCT-Banque de City of Charles, also known as The Community’s Bank, is a wholly owned subsidiary of Potomac Bancshares, Inc. (OTC: PTBS). With about $ 701 million active at September 30, 2021, the Company operates through its head office, eight additional branches and two loan production offices. The offices of the BCT are located at Jefferson and Berkeley Counties (WV), County of Washington (MD) and Counties of Loudoun and Stafford (VA). The Bank provides a variety of banking products and services, including free access to over 55,000 ATMs through the Allpoint® network, as well as online and mobile banking services for individuals, businesses and local governments. The Bank also offers commercial lines and term loans, residential and commercial construction loans, commercial real estate loans and agricultural loans. The Residential Loans Division offers secondary market and portfolio mortgages, one-off indefinite construction loans, as well as home equity loans and lines of credit. For over 60 years, BCT Wealth Advisors has provided financial management, investment, trust and estate services to its clients. In 2019 and 2020, the Bank was named “Best Bank to Work For” by American Banker. In 2018, Forbes named BCT “Best In State Bank” for Maryland.

The Company’s shares are listed on the OTC Pink Sheet market under the symbol “PTBS”. For more information on Potomac Bancshares, Inc. and the Bank, please visit our website at www.mybct.bank.

On Jacques Henri & Associates, Inc.

Jacques Henri (NASDAQ: JKHY) is a leading SaaS provider primarily aimed at the financial services industry. We are an S&P 500 company that serves approximately 8,500 clients nationwide through three divisions: Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions; Symitar® provides leading edge solutions to credit unions of all sizes; and ProfitStars® provides highly specialized solutions to financial institutions of all asset sizes, as well as various business entities outside of the financial services industry. With a heritage of dedicated openness, partnership and user orientation for over 40 years, we are well positioned as the driving force behind the market for digital solutions and payment processing services ready for the customer. to come up. We give our customers and consumers human-centered, technology-driven and knowledge-driven solutions that will get them where they want to go. Are you ready for the future? Further information is available on www.jackhenry.com.

SOURCE BCT – Bank of City of Charles

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