Net.B@nk, Inc., the holding company for Net.B@nk (http://www.netbank.com), Member FDIC, Equal Housing Lender and the world’s leading Internet bank with more than $1.3 billion in assets, Monday announced the appointment of Michael Fitzgerald as president.
Fitzgerald, who has more than 20 years of experience in the banking industry, reports to D.R. Grimes, Net.B@nk chief executive officer. He joins Net.B@nk from Massachusetts-based Salem Five Cents Savings Bank, where he most recently served as the president of directbanking.com, its electronic banking division. In that position, he created one of the first bank Web sites in the world and the first virtual branch offering a complete home banking program.
“Net.B@nk is experiencing phenomenal growth with more than 5,000 customer accounts per month,” Grimes said. “With the addition of Mike’s experience, we are in an even stronger position to increase those numbers. Mike is known in the Internet banking world for his early and innovative product development skills, his commitment to building an infrastructure to support rapid growth, and his accomplishments in cultivating strategic partnerships that add greater value to the customer’s home banking experience. Like Net.B@nk, Mike has accomplished a great deal in proving the viability of the Internet banking model. I am confident that Mike will help us achieve even greater success in the future.”
Fitzgerald earlier held senior management positions at Century Bancorp, Inc., Mellon Bank and Merchants National Bank. Fitzgerald holds a Bachelor of Arts in Economics from the University of Massachusetts at Amherst and a graduate degree from the University of Colorado School of Bank Marketing.
“With 80 percent of households expected to be banking online this year, my mission is to educate them about the strengths of Net.B@nk — our services, our online banking philosophy and what we uniquely can offer them,” Fitzgerald said. “Online banking has achieved considerable momentum among consumers, and that trend will only continue. Net.B@nk is strongly positioned, and I’m very pleased to be part of a management team that is driven to bring the advantages of Internet banking to its customers.”
Net.B@nk, Inc. (Nasdaq: NTBK), is a financial services company whose sole subsidiary, Net.B@nk, Member FDIC, is the first profitable pure Internet bank in the country, having achieved profitability in the past seven successive quarters. With over $1.3 billion in assets and customers in all 50 United States and 20 foreign countries, Net.B@nk is the largest FDIC-insured bank operating solely on the Internet. In addition to free checking and money market accounts and certificates of deposits with exceptional interest rates, Net.B@nk offers its customers the ultimate convenience in banking. Products and services include free online account access, free unlimited online bill payment, free checks, unlimited ATM use, VISA(R) Check Card, VISA(R) credit cards, online brokerage services, mortgage lending, home equity lines and loans, and business equipment leasing services. Net.B@nk is a member of the Cirrus, Honor/Star, and AFFN ATM networks. For more information on Net.B@nk, its products and services, visit the Web site at [http://www.netbank.com], or call 888-256-6932.