Startrust Structured Capital Our Structured Capital Division provides secured, asset-based lending primarily in the Midwest, Mid-Atlantic, South, Southeastern and Southwestern regions of the country. Generally, the companies are manufacturers, wholesalers, distributors, select retail or service-related businesses with annual sales ranging from $15 million to $250 million. We lend funds for leveraged buyouts, selective turnarounds, rapid growth financing, bridge loans and recapitalizations. Structured Capital increased year-to-year asset growth by 22 percent in 1997 over the previous year. Equipment-Lease Financing Star has expanded its presence in this line of business in the Cleveland and Columbus markets in addition to its prominence in the Greater Cincinnati/ Northern Kentucky region. We finance income-producing equipment, with a focus on transportation vehicles, industrial and manufacturing equipment, office and computer equipment, aircraft and railroad equipment. Lease financing now makes up nearly 90 percent of our portfolio, with secured loans comprising the remainder. A significant benefit of borrowing or leasing with Star Bank is our full line-up of financing structures. Commercial Real Estate Star's Commercial Real Estate portfolio is primarily in-market, with the portfolio evenly split between income producing and investor-owned properties. This line of business is Star's largest secured lending business and represents about 27 percent of Star's Commercial Banking revenues. At year-end 1997, Commercial Real Estate assets totaled $1.56 billion, a 12 percent increase over 1996. Since 1919, Star Bank's StarTrust Division has been recognized as a leading provider of trust, investment and financial management services for individuals, corporations, private companies, foundations, charities, public entities and other organizations. StarTrust has clients in all 50 states and several foreign countries. With approximately $50 billion in total assets and $10 billion under management, it is clear that StarTrust meets the needs of its diverse client base. StarTrust revenue increased 21 percent in 1997. Personal Trust StarTrust is a premier provider of Personal Trust and Financial Services in our markets, with client relationships which span generations, administered by trust officers who average 16 years of on the job experience. Our clients' needs range from the sophisticated requirements of our high net worth clientele, to personal financial services for individuals, to strategic financial planning and portfolio management, to retirement planning and estate/probate administration. Our trained Personal Trust specialists assist not only long-time trust clients and families, but also beginning investors, new parents and grandparents, closely held business owners and trust beneficiaries. Family Asset Management focuses on the specialized needs of high net worth individuals and their families. Utilizing a sophisticated level of investment management, trusts, tax planning and asset protection services, StarTrust officers provide customer-tailored service to their clients. The Personal Asset Management Division focuses on Star Bank's branch clientele, specializing in strategic Financial Planning and Portfolio Management, as well as providing IRA products and services. Capital Management The Capital Management Division manages the proprietary Star Funds, the Star Select Funds and the fiduciary assets of StarTrust. Capital Management is committed to provide individually defined investment performance, the rigorous application of disciplines, the employment of innovative techniques and client communication. StarTrust maximizes its expertise and capitalizes on the enormous client interest in mutual fund investing through its management of the investments of the Star Funds, the Star Select Funds, the Investar Vision Annuity and the Investar Advantage Annuity. These investments are available to the retail public through Star Bank branch offices. In November three new mutual funds were introduced: the Star International Equity Fund, the Star Market Capitalization Fund, and the Star Ohio Tax-Free Money Market Fund. In June a new no-load family of mutual funds, managed by Star Bank, was introduced with the REIT-Plus Fund. With the addition of these new funds, Star Bank now manages proprietary mutual funds with more than $2.5 billion in total assets and $10 billion through the entirety of StarTrust. In 1997, the Star Relative Value Fund was recognized by Morningstar as one of its Five Star funds for the past three years. Retirement Plans Division The ALLSTAR 401(k) daily valuation program, our premier retirement plan product, experienced tremendous growth during 1997. The extensive number of investment options offered, as well as the comprehensive employee communications program and the 24-hour access to account information, have enabled us to compete and obtain business on a national basis as well as in our market areas. We offer trustee, investment, administrative and consultation services for traditional pension and defined contribution plans, non-qualified deferred compensation arrangements and 403(b) plans for employers large and small. Corporate Trust StarTrust serves as trustee, security holder and recordkeeping agent for municipal and corporate issuers of publicly issued or privately placed debt and equity securities. The division also provides specialized services to the mutual fund industry. Star's Trustee's Ranking for Municipal Debt in the United States is 14th. Private Banking An increasing business of client referrals and heightened call programs resulted in expanded staff and record growth for the Private Banking Group. The StarTrust Private Banker becomes the client's confidential envoy to the bank's full scope of credit, investment and asset management services. Through proactive wealth management, Private Bankers work with clients to achieve their financial goals. Private Bankers focus on the special needs of physicians and surgeons, attorneys, CPAs, entrepreneurs and corporate executives. Institutional Custody Services The year 1997 was another exceptional year for the Institutional Custody Services Division of StarTrust, which is recognized in the industry as a premier provider of custody services in the United States. StarTrust provides these services to mutual funds, municipalities, financial institutions, insurance companies, registered investment advisors and charitable organizations. At year-end 1997, total assets under custody increased 98 percent, and revenue increased 36 percent over 1996. In this highly specialized field, StarTrust fields a team of experts who guarantee outstanding performance in safekeeping of underlying securities, collection of securities income and the settlement of securities transactions. We also provide supplementary services, such as cash management, Turnkey IRA, 403(b), employee benefits and global custody services. Professional Sports The year 1997 marked the second year of operation for the Professional Sports Division of StarTrust, one of only three banks nationally to handle professional athletes with a dedicated business unit. Professional Sports provides highly specialized services to meet the uncommon requirements of professional athletes. Relocation services, disability insurance counseling, cash flow projection, transitional credit and the establishment of private foundations are just some of the complex services these young athletes require. StarTrust represents clients in every major professional sport and has been recognized in the national press for its skilled approach to this business. back to the top (other categories) Profitable growth of existing business lines Commercial banking Consumer banking Multiple delivery channels Market expansion Additional growth strategies