29 Hoosier Banker November 2016 PSP SHOWCASE Rod Lasley is vice president-products & services of the Indiana Bankers Association, and also serves as president of the for-profit companies owned by the IBA. He can be reached at 317-387-9380, email: rlasley@indianabankers.org. As I travel the state, talking with our membership, many tell me margin compression is an ongoing concern, and they ask where they can find revenue. Non-interest income is one of the areas where additional income can be found. Title Center of Indiana LLC (TCI) is a solid option for non-interest income. Indiana banks that have an ownership interest in TCI are able to boost their income levels with the utilization of their own title company, while also providing quality personal service to their customers. By owning a piece of a title company, your bank has input into the success of the company, by generating title work and closing activity on your loan requests. It is definitely a win-win, with quick turnaround time on title work and timely closings by qualified closers, or even your very own bank personnel; plus the benefit that the money received from these activities is coming back to your institution as non-interest income, through annual distributions. Investors Title Insurance Company is the underwriter for TCI. Based in North Carolina, Investors serves several states throughout the country. The company has tremendous financial strength and excellent ability to meet any claims obligations. Currently Title Center of Indiana LLC is owned by 21 Indiana banks, along with Investors Title Insurance Company and the Indiana Bankers Association. The ownership within TCI has increased over the last few years, with more banks realizing the opportunity this company provides them, through customer service to their bank clients and additional revenue to their bottom lines. TCI also has strengthened its ongoing relationship with owners by hiring a marketing officer, Linda Givens, to regularly meet with the bank’s loan operations teams and continue to support and answer questions bankers might have about processes or the status of various transactions or concerns regarding regulatory changes in the real estate mortgage industry. This commitment serves to solidify and increase the connection between TCI and its owners, which in turn increases the number of transactions being processed through the agency. TCI has offices in Columbus and Warsaw, providing quality service with its knowledgeable and courteous staff. In addition, Greg McComas represents TCI throughout Indiana, calling on existing and prospective bank owners. Greg has 35 years of banking and insurance experience and has been with Investors Title since 2006, supporting agency business development and management efforts in Indiana and several other states. A graduate of Ohio Wesleyan University, Greg was involved in the formation of TCI and the recruitment of the 12 original member banks in 2008. As your bank looks ahead to 2017 and where additional revenue might come from, consider becoming an owner in the Title Center of Indiana LLC. Let TCI review your loan activity and provide you with an analysis what it could add to your institution. Clearly it’s a win-win. If you would like further details on the Title Center and what it can offer, do not hesitate to contact me at the IBA offices. Or contact Greg McComas at gmccomas@invtitle.com, 248-835-3126. t Title Center of Indiana LLC: A Win-Win Option for NonInterest Income
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