Kelvin L. Anderson has been named president of Exante Bank, member FDIC, a leading administrator of health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs).
Exante Bank has more than $540 million in assets and more than 1.3 million health financial accounts. It also processed more than 100 million health transactions in 2007 via its Electronic Payments and Statements solution, a fully integrated electronic remittance advice and funds transfer system.
Anderson takes over on the eve of Exante Bank’s, and its parent company, Exante Financial Services’, transition to OptumHealth Bank and OptumHealth Financial Services on March 3. The name changes reflect the companies’ affiliation with OptumHealth, a UnitedHealth Group (NYSE:UNH) business dedicated to helping individuals optimize their health, well-being and financial security.
Chad Wilkins, chief executive officer of Exante Financial Services, noted that health accounts are increasingly part of the solution for employers, government benefits providers and individuals trying to manage their health care costs while maintaining meaningful health benefits.
“Exante Bank has experienced tremendous growth over the last several years. Kelvin’s deep experience in bank operations and credit card payment services are the right fit for Exante Bank as it continues to deliver financial health care solutions that meet the needs of employers, payers, providers and consumers,” said Wilkins.
Anderson most recently was the chief operating officer and chief financial officer of both Escrow Bank USA and Capmark Bank. At Escrow, he was instrumental in building assets under management to $6 billion while maintaining internal controls to sustain rapid growth. Capmark’s assets grew under his guidance from $3.8 billion to more than $8 billion in just the last 12 months.
Anderson is a graduate of the University of Utah with a bachelor’s degree in accounting. Prior to Escrow Bank and Capmark Bank he was president and CEO of Merrick Bank and vice president and controller of First USA Financial Services, Inc.
Anderson began his appointment on January 14. He replaces Dean Mason, who joined UnitedHealth Group in 2003 and served as Exante Bank president since 2006. Mason has decided to pursue new opportunities outside of the company.
About Exante Financial Services and Exante Bank
Exante Financial Services (Exante), based in Minnetonka, Minn., is focused on enhancing and serving the health care financial needs of consumers, insurers, benefits administrators and health care professionals. Exante currently manages more than 1.3 million health care accounts, including HSAs, HRAs and FSAs. It produces innovative card technology and a host of payment solutions for the health care industry. Through its subsidiary, Administration Resources Corporation, Exante also administers voluntary employee benefit association (VEBA) trusts and provides COBRA and other benefits administration services for employers. Exante Bank, member FDIC, is a Utah-state chartered industrial loan corporation located in Salt Lake City, chartered in January 2002 by UnitedHealth Group (NYSE:UNH). Exante provides consumer health financial services capabilities to 22 independent health administrators.