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Columbia Bank Chooses Precision Computer Systems Unit of Fiserv for New Core Banking System

Posted on: Monday, 22 November 2004, 15:00 CST

Columbia Bank, a $1.9 billion bank and a wholly owned subsidiary of Columbia Banking System, Inc. (NASDAQ:COLB), chose the Vision(TM) system from Precision Computer Systems (PCS) to replace its current core banking solution. PCS is a provider of software solutions to 750 banks nationwide and a unit of Fiserv, Inc. (NASDAQ:FISV).

Columbia Bank contracted with both the PCS Specialized Services and Resource Management Divisions. This strategy provides the Tacoma, Wash.-based bank with a customized approach to enhancements and built-in technology management.

"We determined that newer technology would provide us with the integration and flexibility needed for growth. The PCS solution also will provide the ability to easily and quickly obtain information," said Gary Schminkey, EVP and CFO of Columbia Bank.

In addition to the technology offered, corporate culture played a role in Columbia's decision. "PCS is a proven leader not only in the quality of their applications but in their approach to customer service," said Schminkey.

Columbia Bank President Melanie Dressel said the agreement with PCS will help the bank to meet its fundamental objectives. "We're continually looking for ways to improve products and services, while staying ahead of customer demand and maintaining growth for our shareholders," said Dressel. "We chose PCS because their solution and individualized approach to our business will enable us to deploy a technology strategy that fits our service and expansion goals."

PCS Vision is based on Progress, a powerful, high-performance, fourth-generation language with its own embedded database. The system runs on IBM hardware and operating systems.

"Columbia Bank completed an extensive review of core banking systems before making their final decision, so we are pleased they chose the PCS solution," said Mark Blankespoor, president of Precision Computer Systems. "In addition to performance, utilizing Vision software in a managed resource environment offers them the optimum use of their resources."

Columbia Bank is a Washington state-chartered, full-service commercial bank providing products and services to individuals, business and the real estate community. A wholly owned subsidiary of Columbia Banking System, Inc., Columbia Bank currently operates 34 branches in Pierce, King, Cowlitz, Kitsap and Thurston counties. Columbia bank can be found on the Internet at www.columbiabank.com.

Located in Sioux Falls, S.D., Precision Computer Systems (PCS) is a unit of Fiserv, Inc. and a supplier of core banking products. Vision, the company's flagship system, is complemented by a full line of optional modules including Internet banking, document management and imaging, platform, positive pay and marketing applications. PCS provides both in-house and managed resource solutions to community banks ranging from de novos to multi-billion institutions. A reputation for software service and reliability contribute to the company's 99 percent annual client retention rate. PCS can be found on the Internet at www.pcsbanking.com.

Fiserv, Inc. (Nasdaq: FISV) provides information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 15,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $2.7 billion in processing and services revenues for 2003. Fiserv can be found on the Internet at www.fiserv.com.

Source: Business Wire

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