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For Immediate Release
Friday, March 5, 2010
FSI JOINS FORCES WITH MARKET CONTRACTORS
Market Contractors, Ltd., an Oregon Corporation today announced the acquisition of Financial Supermarkets, Inc., a Georgia Corporation and “pioneer” of the financial services industry. Market Contractors is a nationally recognized general contracting firm based in Portland, Oregon, with 32 years of highly diversified experience and a client base specializing in financial services, retail, and healthcare industries. Constructing over 1,400 bank branches themselves, their national design and construction projects have led to both extraordinary growth and an exceptional reputation making this employee-owned company the perfect match for Financial Supermarkets, Inc. (FSI). FSI has over twenty-five year history as the pioneer in the supermarket banking industry and is considered one of the premier providers of in-store/on-site bank branches in the nation. Together, these highly respected entities will become the nation’s strongest and most comprehensive provider for retail delivery channels in the financial services industry.
Headquartered in Cornelia, Georgia, Financial Supermarkets, Inc. is the leading bank/credit union consulting company specializing in the design, development, and management of in-store banking centers. Established in 1984, FSI pioneered in-store banking and since then has installed over 1,000 branches for over 260 different financial institutions and retail centers in 42 states across the U.S. Additionally, FSI maintains relationships with over 150 retail clients and has been named a strategic partner of the Food Marketing Institute, based in Washington, D.C. FSI became the first company in the nation to license the in-store banking concept with its trademark, The Supermarket Bank®. As part of the acquisition, the interim corporation – FSI Corp – will retain its seasoned staff and management team. FSI’s corporate headquarters will also remain in Cornelia, Georgia.
With the addition of FSI, Market Contractors’ “footprint” will now spread coast-to-coast. The new enterprise will, in fact, become the nation’s – if not the world’s – largest provider of in-store/on-site facilities for the financial services industry. Additionally, with the ability to cross-train FSI’s sales force, Market Contractors is looking to incorporate the emerging retail healthcare market for medical and dental clinics.
In making this announcement, Steve Sorensen, President of Market Contractors, commented, “We are extremely excited about the union of these two great firms. Our mutual goal is to be the nation’s largest and best provider of in-store/on-site retail branches. Despite the recent economic downturn, a merger like this makes the future look brighter, indeed. The synergy of Market Contractors and Financial Supermarkets should provide dynamic growth opportunities.”
Roy Bell, President and CEO of Financial Supermarkets, Inc., stated, “This merger ultimately serves to increase our value as the country’s in-store banking pioneer. It also makes so much sense in today’s dramatically changing world that both partners, bringing their best qualities and abilities to the table, can accomplish so much more together. We complement each other’s service offering so well. We are delighted with this merger and know that our clients, both existing and prospective, will benefit tremendously by it.”
According to company officials, more details will follow as strategic plans evolve from the merger.
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For information regarding this press release please contact
Roy Bell, President & CEO, Financial Supermarkets, Inc.
1-800-992-4978
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