The Situation

A third-party retirement plan administrator had already had money-market deposits with TriState Capital for a while when we began to look for opportunities related to operating accounts and services. Several of our team members had existing relationships with key individuals in the company, so we responded quickly when we learned about an opportunity.

Assessing the Fit

The company had developed a private label for a very large client, which represented a relationship between $50 million and $100 million. Their demands were specific and couldn’t be met with an off-the-shelf product. As is typical in this space, the company used several banks to meet their needs. However, only TriState Capital was willing to build a customized product that included specialized imaging fi les and formats.

Plan Development and Implementation

There was no “ramping up” period; all the transactions would switch to TriState Capital in a single day. This required an extremely detailed project plan. For about six months, multiple TriState Capital departments collaborated with the administrator’s IT specialists, accounting group and CFO to ensure that the proprietary product and processes would work correctly, accurately and efficiently.

The TriState Capital Advantage

Our willingness to listen to the company’s needs and respond with a custom product made us the obvious choice, and a unique account pricing structure was another advantage. Our concierge-level service and accessibility were important factors in the decision-making process.

Solutions and Results

The relationship continues to grow. In less than two years, TriState Capital has become one of the plan administrator’s primary operating banks. Recently, after we demonstrated our capabilities for specialized exception processing, we also began to expand our relationship to also manage the company’s receivables.

“Our willingness to listen to the company’s needs and respond with a custom product made us the obvious choice.”

– TriState Capital Relationship Manager

The Situation

TriState Capital had been courting a regional midsize payroll company for some time, seeking to become its operating bank behind the scenes. While the Pittsburgh-based firm expressed some interest, there were concerns that only a large regional bank could handle the volume of transactions it needed to process. Eventually, however, the company became frustrated with its existing bank. Costs were inconsistent from month to month, and the bank began removing services such as current-day activity and reports. And although fraud and risk mitigation was an ever-increasing concern, the added costs meant new solutions were out of the question.

Assessing the Fit

For a company in this niche, switching banks is a serious and deliberate move that requires a bit of a leap of faith. After all, even a minor error could have consequences that put a payroll processor out of business. The TriState Capital team demonstrated that our bank not only had the required capabilities, but could also add valuable services the company should have been utilizing all along.

Plan Development and Implementation

With thousands of ACH transactions occurring daily, our team had to ensure that data could be exchanged efficiently. Even more important, TriState Capital needed to provide reliable solutions for fraud and risk mitigation.

The TriState Capital Advantage

Pricing and processing were considerations, but the quality of our support was key in the decision to switch banks. The company likes having a dedicated group of people on hand to respond to day-to-day concerns. And while many banks simply perform spot checks for fraud, TriState Capital checks every transaction.

Solutions and Results

Over the years, the company has been able to leverage our combination of support and risk mitigation to grow its own client base significantly. The owner says switching to TriState Capital was the best decision the company ever made, and she now actively promotes the bank to peer companies.

“In the beginning, the company’s owner didn’t know who TriState Capital was. Now she is our biggest source of referrals.”

– TriState Capital Relationship Manager

The Situation

Timing was everything: A large regional 1031 Qualified Intermediary (QI) in Philadelphia had decided to diversify its banking relationships. TriState Capital learned of the competitive bid through a referral. Meanwhile, our team had been building out its new QI capabilities and was ready to begin prospecting.

Assessing the Fit

With so many escrow accounts at stake—not to mention frequent account openings and closures— the intermediary was looking for a bank that could provide capable technology, nimble service and a competitive rate. TriState Capital was a strong contender on all fronts. Interest posting was another key consideration. Doing so in the middle of the month is a necessary and often cumbersome process. Our team demonstrated sophisticated reporting technology that would make the process easier.

Plan Development and Implementation

In many banks, collaboration between the lending and treasury management divisions is rare. But TriState Capital arrived with a senior member of treasury management, a sales associate and a lender, all moving in lockstep toward the firm’s goals. This accessibility proved to be invaluable in the timeliness of an approved solution. As a result, in just 60 days our team had all accounts open.

The TriState Capital Advantage

The intermediary has been notably impressed by our ability to deftly manage its large number of accounts and the quality of our reporting and processes. Ultimately, though, our greatest advantage is the same thing that initially won the firm’s business: the passion and enthusiasm that our team brings to the work.

Solutions and Results

Currently, the intermediary has $50 million in deposits with TriState Capital, and between 40 and 70 active accounts. Through the efforts of our lending team, we were also able to provide the firm with a mutually rewarding $7 million referral, further enhancing our strength as a partner.

The Situation

A large family business was sold and the assets prompted the creation of a family office. The head of the family was seeking a cash management solution for the family’s foundation and LLC funds. Thus far, he had been considering very large, nonspecialized banks. The Catalyst: TriState Capital recognized that this new family office could benefit from a dedicated solution, a trusting bank relationship, and knowledgeable support as it built its organization.

Assessing the Fit

Through several personal meetings between the head of the family and our team, we made him aware that we were a firm that could relate to their family’s history, could assist in their future development, and had the financial strength that they could trust. Within about 9 months, the family office agreed to work with us. We had to be able to accept at least $25 million of deposits in order to be considered. We agreed, and offered to grow the relationship to $75 million over time. The prospect showed us the rates he had received from competitors, and we were able to do better.

Plan Development and Implementation

Demonstrating our ability to respond faster and more nimbly than a larger bank, we took the initiative to build a proposal in two days. Our abilities to listen, assess the family’s needs, and respond with effective solutions were key factors in being awarded the business. We customized our money market and CD rates to ensure that we were competitive nationally. Within about three weeks, the family agreed to work with us.

The TriState Capital Advantage

TriState Capital’s combination of attractive rates and responsive, family office-focused service has made us an important solution for this family’s short-term cash management needs. Our focus on the unique needs and qualities of family offices of all levels has proven to be a strategic advantage. The head of the family is impressed by the professional attention he receives, and our client management team continues to react quickly to any requests or issues.

Solutions and Results

We aspire to become the full cash management solution for this family office, and we also hope to provide lending in the future.

Our focus on the unique needs and qualities of all levels of family offices has proven to be a strategic advantage.

The Situation

A single family office began its relationship with TriState Capital in 2008 as an investor in the bank. At the time, the family office used a large money center bank for its investments and some of its cash management needs. However, the family was seeking another option for some of its substantial cash holdings: a low-risk solution with great returns that would allow funds to be freed up quickly and effortlessly when necessary. The Catalyst: TriState Capital’s entrepreneurial business model and focus on serving family offices appealed to this client. They believed in the bank’s growth potential and wanted to invest in it.

Assessing the Fit

We initially offered the family offi ce a fully FDIC-insured product while the bank was in its buildout phase. As TriState Capital grew, the family became optimistic and was receptive to additional product offerings.

Plan Development and Implementation

The family opened several accounts, some with very large balances. Over time, their confidence grew and they became interested in our broader product capabilities. When the family decided to transition from the FDIC-insured product to our money market, we provided detailed information demonstrating that our bank had the strength to negate the risk of not having full FDIC insurance. Thanks to a relationship built on transparency and trust, the family office was comfortable utilizing our money market offering instead.

The TriState Capital Advantage

This family office’s accounts are funded in part by redemptions from private equity investments. When a decision is made about the best way to deploy funds, it requires a quick, consistent and accurate response—something a money center bank doesn’t always deliver. Wire transfers and transfers between accounts need to be expedient. TriState Capital provides a consistent point of contact, so the family knows every request will receive personalized, same-day attention.

Solutions and Results

The members of this family office are savvy and sophisticated, with accordingly lofty expectations. Our attentiveness and consistency have helped the relationship evolve successfully over time, as has our willingness to promptly and fully correct any oversights. The family office currently entrusts us with more than 20 accounts.

When a decision is made about the best way to deploy funds, it requires a quick, consistent and accurate response—something a money center bank doesn’t always deliver.

The Situation

When a CEO sold his business to a public company in 2007, he found himself in need of a nearly “instant” family office. He had significant cash holdings, and part of his strategy was to diversify by forming relationships with more than one financial institution. The Catalyst: The former CEO recognized that TriState Capital could fill an important role in his highly defined strategy. He and his wife invested with the bank after they formed the family office.

Assessing the Fit

With no existing infrastructure in place, the former CEO needed to build operational processes and security workflows, and implement a capable online banking system. TriState Capital was uniquely positioned to partner with the family office to build a “ground up” infrastructure and help everyone learn to use and manage it effectively.

Plan Development and Implementation

After the family office hired a CFO, we worked with him to set up banking capabilities for the former CEO and his wife, their children, and their business operations.

The TriState Capital Advantage

As is the case with most TriState Capital clients, our rates and client service model were important draws. But the deciding factor in doing business with us was our ability to confidently provide solutions for the family office’s service and security concerns. We worked closely with the family to build the most secure transaction methods, verification methods and validation processes, and to determine when protocol should require personal verification of specific transactions.

The power of shared ideas is another benefit of working with TriState Capital. We share our best practices with our family office clients, enabling them to improve their processes and in turn use that knowledge to network with other similarly sized family offices.

Solutions and Results

As our relationship approaches the 10-year milestone, this client is confident enough in our abilities to call on us for nearly any banking need. We’ve continued to build the number of accounts every year, and today TriState Capital manages approximately 20 deposit accounts related to this family and the family office’s business and investing opportunities.

TriState Capital was uniquely positioned to partner with the family offi ce to build a “ground up” infrastructure and help everyone learn to use and manage it effectively