CBANC Network Appoints Tom Ferries as New Chief Executive Officer

AUSTIN, Aug. 4, 2020 /PRNewswire-PRWeb/ -- CBANC Network, Incorporated today announced that its Board of Directors has appointed Tom Ferries as President and Chief Executive Officer. Ferries is taking over from Bryan Koontz who will remain on the CBANC Board of Directors after having served as the company's President and CEO since 2014. Mr. Ferries is also joining the CBANC Board of Directors.

Ferries is a seasoned banking executive, having most recently served as CEO of Banking Services for the AAA Bank in Michigan, a primarily digital bank which he helped launch in 2014. Prior to AAA, Tom served in other executive banking roles, including SVP, Chief Marketing & Strategy Officer for Auto and Student Lending at JP Morgan Chase in New York, VP of Product and Consumer Lending for USAA Federal Savings Bank, and Director of Global Commercial Risk for Ford Motor Credit Company.

"Under Bryan's leadership, CBANC has grown its membership and community engagement substantially, now with over 50,000 bank and credit union professionals using our platform from over 8,600 US financial institutions representing a combined $22 trillion in assets," said Hank Seale, CBANC's founder and Chairman. "And fueled by the acquisition of Lendwell in 2019, revenue growth has also risen sharply, making this an excellent time for Tom to step in and lead the company through its next phase of growth."

Ferries also has extensive experience working with early-stage technology and consumer Internet companies, having helped launch USAA's Corporate Development arm in 2010 that invests in FinTech, InsurTech, Security, Data, AI and enterprise infrastructure companies. Tom also oversaw the product implementation of USAA's innovative Deposit@Mobile technology in 2009 which paved the way for remote check deposit capture on mobile apps now commonplace in the industry.

"I am really excited to join the CBANC team. I've watched CBANC with great interest for several years and getting the opportunity to help lead it into its next phase of growth is an opportunity I couldn't pass up," said Ferries. "CBANC has already positively changed the environment for its members. I think the products and services we're going to roll out over the next couple of years can really transform the way our member institutions do business and help them compete and grow in the new world we're entering."

About CBANC

CBANC is the largest professional network of US commercial banking institutions, the people that work for them and the vendors who serve them. We connect bank and credit union professionals, provide them with software to help them streamline their business, and give them access to screened vendors to help them make purchase decisions.

Our mission is to help especially smaller US financial institutions do more, be more efficient, and compete at a higher level, by leveraging the collective power of our network. Over fifty thousand members strong, CBANC's membership represents over 8,600 financial institutions and over $22 trillion in assets. CBANC is based in Austin, Texas.

SOURCE CBANC Network