Internet First: Online Bank Takeover

Be among trailblazing marketing pros at Brandweek this September 23–26 in Phoenix, Arizona. Experience incredible networking, insightful sessions and a boost of inspiration at ADWEEK’s ultimate brand event. Register by May 13 to save 35%.


NEW YORK — In what is being billed as the first Internet bank takeover, NetBank on Thursday announced that it was purchasing all of the deposit accounts of CompuBank.

D.R. Grimes, chief executive of NetBank, said the move would add more than 50,000 accounts to his bank’s 170,000 total. “It very well could be the first Internet bank takeover,” Grimes said. “That makes it exciting for us.” He declined to disclose the terms of the deal.


AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in