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Case Study
Farmers State Bank
Company DesCription
Farmers State Bank of Hartland,
Minnesota, is a community financial
services institution with $75 million
in assets, 20 employees and three branch
offices. It works with other participating
banks to combine funds to provide
loans to customers.
the problem
• E-mail wasn’t secure enough to
transmit scanned documents
containing customers’ private data
• Packaging and shipping of paper
loan documents to customers and
participating banks was too expensive
and time-consuming.
• Dropping off and picking up loan
documents made the loan processes
much longer than they needed to be
• Typical electronic file-delivery methods
offered no branding capabilities
the solution
YouSendIt Corporate Suite
When Corporate Suite was deployed
to seven principal users to replace risky
e-mail delivery and expensive courier
services, it improved efficiency, reduced
costs and enabled the bank to leverage
its brand.
Farmers State Bank of Hartland
Financial Services
Farmers State Bank Uses YouSendIt to Securely Receive and Transmit
Customer Loan Documents
Situation and Challenges
Farmers State Bank of Hartland, Minnesota, is a community financial services institution
with $75 million in assets, 20 employees and three branch offices. One of fewer than
8,000 small community banks in the United States, Farmers State Bank is technologically
more advanced than many of its peers but must work with participating banks to meet
the needs of many customers. The bank is limited by regulation to loaning no more than
$1 million per customer. Many customers, however, need to borrow greater amounts. So
Farmers State Bank partners with other banks that have similar limits to collectively share
in the lending function.
When applying for a loan, customers must provide Farmers State a number of documents
that can add up to hundreds of pages including tax returns, financial statements, loan
papers and other private information. Farmer