| Market Expansion and Acquisitions |
Star Banc Corporation operates under the growth strategy that profitability is far more important than size. Star's recent financial results are certainly
evidence that size is not an essential condition for success. Thus, any expansion or acquisition to enhance and extend our franchise must meet Star Banc's disciplined criteria. Foremost among these is that acquisitions must
be accretive to earnings.All of Star Banc's recent acquisitions have met these criteria and are adding to the value of the Corporation and its earnings. It is our expectation that the most recent acquisition, that of Great Financial Corporation, headquartered in Louisville, Kentucky, will be as successful as our recent prior purchases have been. Star Banc has become proficient at the process of converting acquired banks into Star Banks. Operations and information systems teams are experts on the technical side, and we have an enviable record of customer and account retention based on high quality communication processes and guaranteed service. Employees of the new banks are fully and quickly trained in the Star Bank sales and service culture and procedures. Current Star Bank employees are assigned temporarily to new banks and branches as "Ambassadors." At the point of conversion and after, they help see the new branches through the early days of account openings, questions and new processes. New Star Bank signs, marketing materials, sales tools and account literature are in place immediately. At the same time, Star Bank acknowledges and respects the culture, customers and new communities we enter, and we rely heavily on the wisdom and community knowledge of those at the banks we merge into Star Bank. We communicate fully and frequently with our new employees and our new customers throughout the process, retaining as much familiarity as possible. Star's most recent acquisition, which was completed on February 7, 1998, opened new market areas of Kentucky to Star. Great Financial was an outstanding organization with an 85-year history of quality customer service. Combining with Great Financial gave Star Banc the opportunity to attract new customers and further extend its platform of convenience and service into geographic regions which were natural extensions of Star's existing Kentucky franchise. Great Financial has operated consumer, mortgage banking, commercial lending and private banking services in and around the major markets of Louisville, Lexington and Owensboro, Kentucky. Recent Acquisitions TransOhio Federal Savings Bank Cleveland and Northeastern Ohio 1994 Household Bank, FSB Columbus and Central Ohio 1995 National City Bank branches Connersville, IN 1996 AmeriFirst Bank branches Southwestern Ohio 1997 Great Financial Corporation Louisville, Central and Western Kentucky 1998 back to the top |
Profitable growth of existing business lines
Commercial banking
Consumer banking
Multiple delivery channels
Startrust
Additional growth strategies