Thursday, August 07, 2008
Elavon Acquires Merchant Services Business From Capital City Bank
By Holly Lytle
Exclusive Marketing Agreement Spans 70 Branches, 2,200 Merchants
August 7, 2008
ATLANTA and Tallahassee, Fla. - August 7, 2008 - Elavon, formerly NOVA Information Systems, a wholly owned subsidiary of U.S. Bancorp (NYSE:USB), has acquired substantially all of the merchant processing portfolio of Capital City Bank, a subsidiary of Capital City Bank Group Inc. (NASDAQ: CCBG), with 70 branches across Florida, Georgia and Alabama. The agreement extends Elavon's robust payment processing solutions to Capital City Bank's existing base of 2,200 merchants and will also service new merchants.
"We are pleased to align Elavon's solutions with Capital City Bank's merchant portfolio," said Stuart C. Harvey, Jr., CEO of Elavon. "Through our referral bank model, we enable financial institutions of all sizes to create operational and financial efficiencies that address both their business needs and those of their clients."
"Our alliance with Elavon delivers true value to our commercial and small business clients," said Ed Canup, Executive Vice President of Commercial Banking. "It allows us to confidently market a variety of secure and flexible payment solutions to merchants, knowing that they are backed by Elavon's powerful processing network and excellent customer service."
While the transition of merchant services to Elavon will not affect Capital City clients' banking relationships, merchants will benefit from robust debit and credit card processing, a choice of point-of-sale devices and software, advanced e-commerce products, gift card solutions, electronic check services, and enhanced reporting.
Elavon's Global Acquiring Solutions organization is a part of U.S. Bancorp (NYSE: USB). Elavon provides end-to-end payment processing services to more than one million merchants in the United States, Europe, Canada and Puerto Rico. Solutions include credit and debit card processing, electronic check services, gift cards, dynamic currency conversion, multi-currency support, and cross-border acquiring. Elavon's services are marketed through multiple alliance partner channels including financial institutions, trade associations and ISOs. Elavon has solutions to meet the needs of merchants in specialized markets including small business, retail, hospitality/T&E, health care, education and the public sector. Elavon represents the former brands of NOVA Information Systems and its affiliates FHMS and euroConex. For more information about Elavon visit www.elavon.com.
About Capital City Bank Group, Inc.
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Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial services companies headquartered in Florida and has approximately $2.7 billion in assets. The Company provides a full range of banking services, including traditional deposit and credit services, asset management, trust, mortgage banking, merchant services, bankcards, data processing and securities brokerage services. The Company's bank subsidiary, Capital City Bank, was founded in 1895 and now has 69 banking offices, one mortgage lending office, and 82 ATMs in Florida, Georgia and Alabama. Since 2005, the Company has been named annually as a dividend Achiever by Mergent, Inc., a leading provider of information on publicly traded companies. To be named a Dividend Achiever, a public company must have increased its regular cash dividends for at least 10 consecutive years. For more information about Capital City Bank Group, Inc., visit www.ccbg.com.