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New Mexico Business Journal, August, 2000 by Kent Paterson

Wells Fargo Bank

When the Wells Fargo-First Security merger goes through as expected later in the year, Wells Fargo will be the largest bank in New Mexico, knocking Bank of America off its No. 1 perch. Wells spokeswoman Marilyn Taylor says the company prides itself on the variety of services it offers to the public.

Indeed, Wells may have something for everyone. Some 5,000 of its ATMs dot the national landscape, in-store bank branches are growing in popularity, telephone banking with 24-hour call centers is just a dial away, and good old brick and mortar banks abound. In terms of growth strategy, Taylor says Wells Fargo is driven by consumer demand. "For us, it's not any one direction, it's based on what our customers want," she says.

Compass Bank

While Compass Bank is another institution based out of State (Alabama), George Hall, the president of Compass New Mexico, is quick to point out that his company retained all the senior management and loan officers "to a person" after Compass' recent purchase of Western Bank.

By retaining experienced, local personnel, says Hall, Compass' relationships with its customers are strengthened. The goal is to provide the full range of banking services while keeping the character of a personalized bank. Says Hall, "I don't think it's been proven that bigger is necessarily better."

For Hall, community involvement, support for economic development and philanthropic leadership are the cornerstones of being a good corporate citizen.

KENT PATERSON, AN ALBUQUERQUE-BASED FREELANCE WRITER, IS A REGULAR CONTRIBUTOR TO THE NEW MEXICO BUSINESS JOURNAL.

Cyberbanking

Better get used to it

In one way or another, all New Mexico banks are increasingly linked to high technology. Besides the highly competitive ATM market, telebanking is another key strategic component. Among others, Bank of Albuquerque, offers a 24-hour call center service to its customers. And, of course, loan applications, account transfers, payroll and a myriad of other transactions can all be done nowadays from a computer.

Even Farmers and Stockmens Bank in small, rural Clayton, which doesn't yet offer Internet banking, expects to go online within five years, says Larry Fluhman, president. The rural banker, who is concerned about privacy issues and computerized banking, says he prefers to sit back while others work out the kinks in the technology.

Like most other financial institutions, New Mexico Bank & Trust offers both retail and business accounts. Greg Leyendecker, the ceo, says one bank has an e-mailed notification system that advises the client when a check clears or an account dips below a certain balance.

Working with a client base of 2.3 million cyber customers across the United States, Bank of America is the largest online provider of banking services in the country. Recently forming partnerships with high-tech providers such as BroadVision, Inc. and Biztro, the bank is poised to make its leap into the new century with business-to-employee (B2E) portal solutions that aim to revolutionize the way much business is done.