Correspondent banking isn't quite ready for a glass case; evolution, not extinction, is the consensus. (Corporate Banking)

ABA Banking Journal, May, 1991 by Cocheo, Steve

Is correspondent banking dead? "I've heard that for 20 years," says Don Jeffery, a first vice-president of the Midwest Banking Division of NBD Bank, N.A. Jeffery, who has been in banking for 43 years and in correspondent banking for 38 of them, does not consider his business to be a dinosaur by any means.

In fact, Jeffery points with pride to the fact that NBD was doing correspondent business of one kind or another with 75% of Michigan's banks 15 years ago, and, with the exception of two large Detroit competitors, now is a correspondent for 100% of the state's banks.

"Our business has never been better, says Jim Johnston, executive vice-president and manager of NCNB Corp.'s Dallas-based Financial Institutions Department.

"A lot of business...

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